Alacra Compliance Messaging Service (ACMS)

Alacra Compliance Enterprise (ACE) is a SaaS workflow solution that is widely used by financial institutions for KYC, client due diligence, onboarding, refresh, remediation and ongoing monitoring. ACE facilitates the gathering of client due diligence documents, beneficial owner information and ID verification, automates comprehensive adverse news, PEP and sanctions checks and creates a single document that contains all the relevant information to meet regulatory requirements. ACE drives benefit to financial institutions through lowered cost of client due diligence, a consistent and standardized global process and the elimination of errors, creating a greatly improved customer experience through a faster onboarding process.

Alacra Compliance Messaging Service builds on the benefits of the ACE solution by enabling tight integration of Alacra compliance workflow and data with the bank’s front, middle and back office systems. ACMS is an advanced suite of web services that help firms develop efficient, effective and fully integrated compliance workflows by:

  • Creating seamless, automated communication between bank systems and the Alacra Compliance Enterprise solution
  • Enabling full programmatic control of the Alacra Compliance Enterprise solution from bank applications
  • Enabling straight-through processing/auto-clear for efficient basic screening

ACMS Workflow

 

Use Cases

Automated Communication

Many Alacra customers use ACMS in conjunction with ACE to automate communication between the bank’s systems and Alacra. For example, using ACMS, new client information collected by relationship managers in the branch can be sent directly from the bank front office application to KYC analysts using ACE. Once the analyst resolves the case in accordance with bank policy, the decision, supporting data and due diligence report can be passed from ACE to the bank’s account opening systems. The relationship manager is kept up to date as the case transitions seamlessly from one stage to the next. This greatly simplifies the process, eliminates the need to repeat data entry, speeds up communication and ultimately accelerates onboarding.
Automated Communications

External Control

ACMS allows the bank’s systems to control the status and details of cases in ACE, add users, control monitoring and more without anyone opening the ACE application. This permits a bank to keep the data in ACE synchronized with that in systems such as case management and account lifecycle platforms. This offers time saving as users do not need to update separate systems and also avoids the risk of having data that is not current in one system over the other.
External Control

Straight-Through Processing/Auto-clear

Banks can dramatically simplify and accelerate the due diligence process for low risk onboarding using ACMS. Basic compliance tasks such as the performance of an initial sanctions search, media screen or PEP screen can be completed with a single web service request. Instead of creating a workflow in the ACE user interface, results are passed directly back to the bank system. Entities with no hits can automatically move to the next stage of onboarding, while cases can be created in Alacra Compliance Enterprise for those with potential matches requiring fuller CDD investigations.
Straight-Through Processing/Auto-Clear

Flexible, Configurable, Powerful

ACMS offers deployment and configuration options that enable the desired level of integration for your IT infrastructure.

  • ACMS supports XML integration via WCF service, RESTful Web API or FTP (Microsoft Excel templates are also supported via FTP for creation and return of cases).
  • More than 30 unique service requests are available to effect full control of all Alacra Compliance capabilities.
  • service requests are created each time Alacra expands its compliance offerings, ensuring that integration options are always available for key compliance modules.