Compliance violations. com. NICE vs SAS. 3 Global AML Software Revenue by Manufacturers 4. Our anti-money laundering software ensures that your organization stays compliant with regulations while mitigating the risk of financial crime. Finally, data visualization tools enable users to quickly identify illegal or suspicious financial activity that may have gone unnoticed otherwise. ATOMS is an advanced analytics solution that automates the tuning and periodic review of thresholds for transaction monitoring or any. 4. NICE Actimize. SentroWeb uses the reputable Dow Jones database with independent and accurate sources, covering over 3 million sanctioned and blacklisted persons or entities, Politically Exposed Persons (PEPs), and. The anti-money laundering (AML) software market is a subset of the software industry that provides financial institutions and other enterprises with tools for preventing, spotting, and disclosing. 528 billion in 2021. your compliance. Find the top Anti Money Laundering (AML) Software with Gartner. Read reviews. Location: New York, New York. Best Practices for Anti-Money Laundering Compliance 2 Since 1985, state licensed casinos have been defined as “financial institutions” under the Bank Secrecy Act (BSA). The report, titled “KYC/AML Software Solutions 2020: Market Update and Vendor Landscape”, positions PwC as a category leader in KYC products and services. 73% during the forecast period, reaching USD 5032. The goAML is a fully integrated software developed by the United Nations Office on Drugs and Crime (UNODC) to be used by financial intelligence units across the world to curb money laundering and terrorist financing. Using advanced AI systems, we help banks discover money laundering and really know their customers, more efficiently – to stop the. Find the best AML Software for your organization. . AML compliance is a fundamental requirement for regulated entities, such as banks, financial and money service businesses. ComplyCube is a market leader in identity verification platforms. i-AML Software provides top-notch anti-money laundering solutions, including the best AML software for banks. To combat this ever-evolving threat, Anti-Money Laundering (AML) software has become an essential tool. Plus, Alessa allows your investigators to. 8 (72) 2023 Capterra Shortlist™. Actico. As legislation. List of top companies in Anti-Money Laundering Software Market: Aquilan Inc. Customers include government, legal, telecoms and financial services. The software monitors digital payments, card payment transfers, deposits and withdrawals, checks, loan payments, and cyrptocurrency transfers. Anti-money laundering software helps to easily verify provided documents, sign new ones, and otherwise onboard businesses from all over the world. All the financial crime-fighting power you need in one AML case management platform. You can carry out AML checks and create proposals in. The On-premise AML Software segment accounted for the majority of the market revenue, and held a share of 89 percent in 2013. It supports complex needs with advanced features while keeping the ease of use at its core. Identity verification is a must-have for any KYC and AML solution. Zenefits: Best for onboarding. Choosing the right software vendor is as crucial as selecting the right tools for a job. Compare Dow Jones Risk & Compliance to Refinitiv World-Check Risk Intelligence. From financial services to manufacturing or retail to healthcare. Ondato. 3. Benefits of the Best AML Software. Compliance Management. The software monitors digital payments, card payment transfers, deposits and withdrawals, checks, loan payments, and cyrptocurrency transfers. The best AML software vendors also can customize the software to meet your specific needs. The largest company building anti-money laundering software is SAS with more than 10,000 employees. It uses AI and analytics to identify suspicious customer. ComplyAdvantage. AML UAE is an AML compliance services provider with a specific focus on the UAE market. It is estimated that the AML software market in India, which accounted for approximately 4. Compare top AML Software tools with customer reviews, pricing and free demos. Alloy is how smart banks and fintech companies take a closer look at the whole picture. Data sources and coverage: The foundation of any AML and KYC system is its data. The global anti-money laundering software market size was USD 1. 17% Small-Business. AML Compliance Software. Analyst Report Matrix: Leading Fraud & AML Machine Learning Platforms SAS is a best-in-class vendor in the most recent Datos Insights report, Matrix: Leading Fraud &. Transaction AI provides real-time, continuous fraud and AML transaction monitoring to help you reduce your risk, save time and money. KYB (Know Your Business) Compare the best KYC software of 2023 for your business. Singapore/Hong Kong, 15 December 2020 – Napier has won Best Solution in AML/CTF Compliance in the 3rd Regulation Asia Awards for Excellence 2020 in an online ceremony on 15 December 2020. LONDON, Jan. Celent profiles 22 vendors of AML packages for large, medium and small firms. Shufti Pro is a top software in the financial industry that offers Identity Verification services with the help of KYC & AML Screening solutions. AML compliance is an increasing challenge for casinos, which are required to follow regulations designed for banks while operating in the busi. Find the best AML Software for your organization. Its identity verification features include machine learning for fraud detection and live video. Connect via online dashboard and/or API integration. Real-time Risk Management: Real-time data-vendor push of updates to your client data, which results in automated screening and Risk analysis processes. The selected companies operate within the AML KYC software technology market. And. AML software, short for Anti-Money Laundering, enables companies, financial institutions, and banks to conduct KYC, detect suspicious financial activities, and evaluate risks in. Acumatica Cloud ERP offers best-in-class functionality for small and mid-sized businesses to thrive in the new digital economy. . With our AML screening software, companies can perform Anti-Money Laundering checks in real-time, and screen and monitor clients against global PEP and sanction lists in seconds. 21 Jan, 2016, 06:10 ET. AML software is designed to assist financial institutions, banks, and other organizations in ident. Summary. $0. Great AML software! PROS. With a highly configurable workflow module, Alessa facilitates collaborative case management and investigation. Encompass. Vendors who bid for placement can be. It is a great tool to detect money laundering early in the stage and minimize the risk while providing excellent customer service. Crystal provides crypto transaction analysis and monitoring for exchange, bank, and FI AML compliance requirements. Now, reduce your compliance workload with automated Sanctions, PEPs, and Adverse Media checks using IDMaml fraud prevention software. In this comprehensive guide, we will explore the top AML software. Read Full Review. On this episode, we are revisiting the topic of anti-money laundering. Read Sanction Scanner Reviews. Celent's anti-money laundering vendor evaluation reports have become something of a de facto standard, used by financial institutions and regulators. SAS Anti-Money Laundering takes a risk based approach to helping you uncover illicit activities and comply with anti-money laundering (AML) and combating the financing of terrorism (CTF) regulations. Crystal Blockchain Crystal Blockchain Crystal is the all-in-one blockchain investigative tool. We at Smart Infotech provide a fast and easily configurable compliance system to help you meet your AML regulatory obligations in a cost-effective way. Read more about Ondato. Best free Anti Money Laundering Software across 28 Anti Money Laundering Software products. What to Look for When Comparing AML Software Vendors. This. January 10, 2022. Paycor: Best overall. Hoboken, NJ, April 15, 2021 – NICE Actimize, a NICE (Nasdaq: NICE) business, has been ranked by global advisory and consulting firm Quadrant Knowledge Solutions as a Technology Leader in its recently released “SPARK Matrix™ Anti-Money Laundering (AML) Solution, 2021 report. The platform integrates with your current systems and offers access to our best-in-class partners to help ensure complete coverage. At Lucinity, we use Human AI to explain AI findings so that every compliance professional can take on. Crowdfunding, in conjunction with cryptocurrencies and social media, increases the risks of terrorist financing by allowing bad actors to utilize the reach of crowdfunding platforms and crypto asset technologies to gain support from followers and receive funds. Find out how AML Platform stacks up against its competitors with real user reviews, pricing information, and what features they offer. 5%, 15. Among with the AML software market development, there is also a significant growth in banks’ interest in custom solutions. Customer Due Diligence (CDD) Vendor B’s software offers robust features for customer due diligence, a crucial aspect of AML compliance. 5 (6) 5. We are dedicated to improving the compliance of businesses in UAE with all the relevant anti-money laundering and combating the financing of terrorism rules and regulations. OneHypernet KYC Screening. 5. AML Compliance Monitoring AI and machine learning technologies are powerful tools aiding banks and financial institutions in adhering to anti-money laundering regulations. Compliance Management. This prestigious recognition stems from the publisher’s annual voting, solidifying Vneuron’s industry standing. ScanWriter. 4 Global AML Software Sales Price by ManufacturersThe five pillars of AML. 42. WatchDOG Elite leverages several sanctions screening tools to best. Transaction AI provides real-time, continuous fraud and AML transaction monitoring to help you reduce your risk, save time and money. 5 (4317 reviews) Recently recommended 57 times. Compare the best AML Software in Canada. 9% more than the average of search queries in. /. Get the G2 on the right Anti Money Laundering Software for you. We are hiring. bits and pieces. KYC2020. All ratings, reviews and insights for Dow Jones Risk & Compliance. This option sorts the directory by those bids, highest to lowest. AML Software industry report classifies global market by share, trend, and based on component, deployment type, application, end-use, and region | anti-money laundering (AML). Customers include government, legal, telecoms and financial services. Obligated organizations are required to verify their clients in order to avoid financial. It aggregates emotional response ratings across 25 provocative questions, creating a powerful indicator of overall user feeling toward the vendor and product. In some instances, people financial services and compliance technology backgrounds have created startups to focus on developing AI solutions for. Scorechain is specialized in blockchain analytics and crypto compliance tools and helps worldwide companies comply with AML regulations on crypto-assets. IDMerit aims to provide simplified, fast, and safe AML KYC Software that helps businesses comply with AML Regulations in a scalable manner. Payment screening from ComplyAdvantage can be purchased as a standalone solution, or leveraged as part of the broader ComplyAdvantage. Cryptocurrency companies today prioritize using AML tools provided by AML platforms as lawmakers are becoming more strict regarding the law compliance of the crypto industry. Scorechain Blockchain. 4. Azentio Software (“Azentio”), a Singapore-headquartered technology firm owned by funds advised by Apax Partners, has announced that it has won the Best Anti-Money Laundering Solution Award at the India Fraud Risk Management Summit & Awards 2023. The compliance tools cover the entire spectrum of anti-money. AML technology allows financial institutions to. (1) 5. Obligated organizations are required to verify their clients in order to avoid financial. Alloy's AML software helps top banks and fintech companies make better identity decisions. "User friendly software for Risk Management". Lucinity is an AML software company, founded in 2018, with offices in Reykjavík, New York, London and Brussels. 10 Best AML Software for Financial Institutions 1. Basic Types of Anti-Money Laundering Software. When implemented effectively, robust sanctions programs can help prevent enforcement action by regulators, protect reputations, and strengthen the overall integrity of the global financial system. Stay ahead of financial crime and fraudsters, efficiently comply with regulations, and protect your business with industry-leading technology from top KYC AML vendors. Shufti pro’s AML services for Indian businesses help identify high-risk clients, improve client onboarding with faster PEP screening, and real-time sanction list monitoring. Top 3 companies receive 88. VALUE FOR MONEY. Verification of more than 3000 types of identity documents and assessing associated risks by credit/debit card authentication, PEPS and sanctions checking, MRZ verification, PCI compliance and card-not-present authentication. Ensure that your compliance partner offers comprehensive data sources that are truly global. 0 (20) Sanction Scanner is an compliance software that provides AML screening, Transaction Monitoring, and Adverse Media Screening Solution Learn more about Sanction Scanner. 7 million. 1 Increasing Usage of Cognitive ComputingOracle Anti-money laundering solution is a complete set of features for top-notch security. It automates and simplifies Identity Verification (IDV), AML (Anti-Money Laundering) and Know Your Customer compliance. Compared to other Finance categories, Anti-Money Laundering Software is more concentrated in terms of top 3 companies’ share of search queries. Visit. 1 Increasing Usage of Cognitive ComputingThe vendor management team will just do the heavy lifting associated with some version of the following steps: Define the BSA/AML requirements for the new platform. Find the highest rated KYC software pricing, reviews, free demos, trials, and more. 4. Download free comprehensive 40+ page reports to. Save to My Lists. Compared to other Finance categories, Anti-Money Laundering Software is more concentrated in terms of top 3 companies’ share of search queries. 10+ years recommending software in the UK. But add to that a landscape of constantly evolving threats, and it's a lot to keep up with. It is most often used by financial institutions, such as banks. Visit website. Kount vs Signifyd Kount vs Whitepages Kount vs LexisNexis See All Alternatives. Find the highest rated AML software in India pricing, reviews, free demos, trials, and more. Really great and expansive product. (11) See all Oracle Financial Crime and Compliance Management Alternatives. S. We aid you in negotiation with the AML screening software vendor so that you get the best deal out of it and derive value for your AML compliance requirements. Planning and Strategy. G2 Grid® for Anti Money Laundering. Compare the best AML software in. With digital footprinting, SEON's fraud prevention tool gives you insights into every interaction, transaction, and opportunity. Persona offers a best-in-class unified identity platform that gives businesses the building blocks they need to design and manage fully customizable KYC, AML, KYB, and identity verification programs across 200+ countries. Discover the most popular Free AML Software tools and compare user ratings, pricing, features, and free demo versions. Check whether the software follows regulatory updates. This can lead to improved accuracy in detecting suspicious transactions. 1. Vendor consolidation can help financial institutions achieve this by providing a more complete view of their compliance efforts. 10. We design best-in-class analytics and investigation solutions to make the blockchain transparent for crypto businesses, banks, financial institutions, and government and law agencies. The global Anti Money Laundering (AML) Software market size in 2022 is XX million US dollars, and it is expected to be XX million US dollars by 2031, with a compound annual growth rate of XX. LogicManager provides robust solutions to the complex, changing landscape of domestic and international BSA/AML regulations by providing the risk software needed to sustain and grow healthy, mature risk management operations. The software is compliant with whistleblowing laws and built on the highest standards in IT security. Find the highest rated AML software in Brazil pricing, reviews, free demos, trials, and more. Audit Trail. . 2 out of 5. In contrast, financial institutions were fined $10. Transaction AI provides real-time, continuous fraud and AML transaction monitoring to help you reduce your risk, save time and money. Top 3 companies receive 88. These are the number of queries on search engines which include the brand name of the solution. Anti–Money Laundering (AML) Compliance. By providing a secure, trustworthy, and streamlined verification process, it not only facilitates but also. Top 10 Companies in the Anti-Money Laundering Market by Revenue. Visit Website. Compare the best AML software in. Horizon Globex. Analyst Report Chartis RiskTech Quadrant for Trade-Based AML Solutions 2022 SAS is named a category leader in the Chartis RiskTech Quadrant for Trade-Based AML Solutions, 2022. Iceland. Persona offers a best-in-class unified identity platform that gives businesses the building blocks they need to design and manage fully customizable KYC, AML, KYB, and identity verification programs across 200+ countries and territories, helping them meet compliance standards, fight fraud, and build trust throughout the customer lifecycle. Designed for law enforcement and financial institutions, Crystal provides a. 9%, 14. 63 Billion in 2021 to USD 7. AnChain. Compare the best AML software in Australia of 2023 for your business. Kount vs Signifyd Kount vs Whitepages Kount vs LexisNexis See All Alternatives. AML software, short for Anti-Money Laundering, enables companies, financial institutions, and banks to conduct KYC, detect suspicious financial activities, and evaluate risks in order to prevent fraud. A vendor with domain expertise can better tailor the AML software to meet your unique needs and challenges. Sanctions screening is integral to compliance with global anti-money laundering and counter-terrorist financing (AML/CFT) regulations. Shufti Pro focuses on providing KYC solutions to six industries: Financial services. 4. RegTech KYB (Know Your Business) Compare the best AML software of 2023 for your business. AML software prevents organizations from doing business with fraudulent organizations that may impact their profitability and damage their reputation. Designate a compliance officer. Read More ». More vendors have introduced features for supporting increased efficiency at the alert investigation and case management level. Sanction Scanner's main objective is to combat financial crimes. AML software vendors offer a range of solutions that help organizations detect and prevent money laundering activities, ensuring compliance with regulatory requirements. Top AML Software Players in United States Market, Ranking by Revenue (2021) Table 20. Broadly speaking, AML software refers to a wide range of programs that help companies protect themselves from money laundering activity. Email us at connect@alessa. These vendors provide a variety of compliance software. Onspring's cloud-based software builds greater clarity and control into your enterprise risk management program. Financial institutions must choose a software vendor solution. Napier’s AML software enables compliance teams to efficiently monitor financial transactions for suspicious activity that may indicate money laundering. 6 billion for the same violations in 2020. Sanction Scanner's main objective is to combat financial crimes. Our SaaS transaction monitoring tool makes it easy for. According to the United Nations Office on Drugs and Crime (UNODC), the estimated amount of total money laundered annually around the world is 2-5% of the global GDP ($800 billion – 2 trillion). Compared to other Finance categories, Anti-Money Laundering Software is more concentrated in terms of top 3 companies’ share of search queries. Compare. Historical Screening Results Your end-to-end solution for AML Compliance, with benefits and accuracy of the AML Software technology from Castellum. We help you in choosing the add-ons and support services for the anti-money laundering software. Security risks became a factor, however, due to: Poor security practices. Anti-Money Laundering (AML) Software flags suspicious transactions, preventing money laundering and helping to deter financial crimes and terrorism funding. Call 3: Identify requirements. User Satisfaction. Shufti pro’s AML services for Indian businesses help identify high-risk clients, improve client onboarding with faster PEP screening, and real-time sanction list monitoring. Overall Reference Rating4. Allied Market Research published a report, titled, "Anti-Money Laundering Software Market by Component (Software and Service), Product Type (Transaction Monitoring, Currency Transaction Reporting. Find the top rated software for your business. More and more companies must protect their customers and business reputation. (11) See all Oracle Financial Crime and Compliance Management Alternatives. Find the best AML Software for your organization. Ondato's KYC technology is a proven solution for financial institutions that automates customer (individual and corporate) registration, KYC data collection and monitoring (ODD). Such an AI-based solution will be critical in identifying the unusual transactional patterns, intelligent analytics, and detailing reporting functionalities. AML-TRACE compliance suite is a trusted anti-money laundering software by SMART Infotech set up in 2011. Crystal provides crypto transaction analysis and monitoring for exchange, bank, and FI AML compliance requirements. KYC (Know Your Customer) software is used by both regulated and non-regulated to verify the identity of new clients. The software automates workflows, creates graphics and manages ongoing. In its latest report on global financial institution fines for the first six months of 2021, Fenergo found that fines for non-compliance with AML, KYC, data privacy, and MiFID regulations totaled $937. AI and consultancy. . S. GSLFX. Computer Services, Inc (CSI) headquartered in Paducah, offers the WatchDOG suite of financial risk. Check whether the software follows regulatory updates. This article summarizes five top payment screening software vendors, listing their key strengths and explaining the use cases they respond best to. Our anti-money laundering software allows you to streamline, manage, and report on everything in your program from one location. Curacao Gaming. Alessa. Check whether the software follows regulatory updates. The range of products provided by the company includes Tokenetics, CustodyWare, KYCWare, and AML Cop. Top 3 companies receive 88. law to implement anti-money laundering (AML) processes. PUNE, Feb. IBM OpenPages, SAP GRC, RSA Archer, and MetricStream are among the most prominent compliance software vendors. In 2021, FinCEN determined that Capital One had failed to implement and maintain an effective Anti-Money Laundering (AML) program to guard against money laundering and enforced a. All Products ComplyCube. Choosing Between AML Software Vendors: What To Look For What to Look for When Comparing AML Software Vendors AML Compliance, Blog Share. It is a great tool to detect money laundering early in the stage and minimize the risk while providing excellent customer service. Compare and evaluate Anti-Money Laundering (AML) Software vendors using the most in-depth and unbiased buyer reports available. 1. Outlook of the global anti-money laundering software market. 2 Some of AML Software Vendors and Their Offerings 2. Compared to other Finance categories, Anti-Money Laundering Software is more concentrated in terms of top 3 companies’ share of search queries. Global anti-money laundering software market revenue is expected to register a CAGR of 15. As risk managers, AML officers must assess the specific needs of their institution and decide which AML software platform will suit it best. The company’s technologies specialize in cloud-based data visualization, classification and access management for financial services and more. Each year, new anti-money laundering rules and regulations are released to tackle fraud, and the software you choose should stay updated with these changes. G2 scores products and sellers based on reviews gathered from our user community, as well as data aggregated from online sources and social networks. Rating. Imbibe the best transaction monitoring practices to be 100% compliant with AML regulations and safeguard your business interest against financial crimes. 5%, 15. TOP 10 KYC & AML software companies in 2023 themobilereality. Compare top AML Software systems with customer reviews, pricing, and free demos. Vespia ComplyCube. Save money on KYC & AML checks with custom rules. Fight financial crime and achieve AML compliance with a suite of solutions that are engineered to work together, supercharged by advanced analytics, and designed to deliver powerful unified enterprise case management capabilities. It allows organizations to collect and. We made a list of the best KYC software providers to help you comply with KYC regulations and onboard customers while minimising risks to your business: Salv – All-in-one AML Platform; Veriff – AI-Powered Identity Verification; Ondato – End-to-End KYC ManagementHow to Choose the Best Transaction Monitoring Software for Your Needs. Find the highest rated AML software pricing, reviews, free demos, trials, and more. The suite of tools includes photo and video identity verification, facial biometric authentication & more. Best free Anti Money Laundering Software across 28 Anti Money Laundering Software products. HyperVerge. 7 million by 2023, growing at a CAGR of 15. Top 14 Anti Money Laundering (AML) Software & Tools 2023 List of AML Software &. Compare the best AML software of 2023 for your business. Top 3 products are developed by companies with a total of 30k employees. It enables businesses to stop, identify, look into, and report suspicious activities suggestive of fraud, money laundering, and financing of terrorism. Scorechain Blockchain Analytics Suite covers. Compare top AML Software systems with customer reviews, pricing, and free demos. See side-by-side comparisons of product capabilities, customer experience, pros and cons, and reviewer demographics to find the best fit for your. Reporting/Analytics. We’ve compiled the top five companies for your verification needs. Compared to other Finance categories, Anti-Money Laundering Software is more concentrated in terms of top 3 companies’ share of search queries. Hosted on our WatchDOG Elite platform, CSI’s web-based sanction screening services streamline and consolidate the watch list screening process by combining an advanced search algorithm with the latest technology, resulting in fewer false positives for your staff to handle. Anti money laundering (AML) is a type of software used in the finance and legal industries, to help companies comply with legal requirements to prevent or report money. This is important because if a user makes purchases over that amount, he/she will have to report them. The AML platform uses advanced technology and sophisticated algorithms that helps to detect suspicious activities which helps to identify and prevent money laundering activities quickly. 1-15 of 15 results. 10 per credit 6 Ratings. Singapore. Customization: Look for AML software that can adapt to your. We analyze and monitor blockchain transactions. 73% during the forecast period, reaching USD 5032. Helping businesses choose better software since 19993. Compare the best AML software for Linux currently available using the table below. Many of ARC Risk and Compliance’s team helped pioneer AML technology in the industry. It provides companies with the tools to meet legal and regulatory requirements regarding money laundering oversight, the most notable of which is the Bank Secrecy Act (BSA). High-quality AML software can bolster an organization's defense mechanisms against illegal financial activities. An effective anti-money laundering, counter terrorism financing and sanctions compliance program also requires the ability to conduct initial and ongoing screening and monitoring of clients and partners for any indications of signs or “red flags” associated with suspicious transactions. 1. Premium AML/KYC Software Vendors. Alloy is the Identity Decisioning Platform that helps banks and fintech companies automate their decisions, approve more customers and outmaneuver fraud. Risk Management. All Categories For vendors About us. net is a leading KYC/AML, fraud prevention and fraud detection platform for enterprises in the financial services and digital commerce sectors. 1 review. Follow. To this end, a good vendor will work with an AML officer to assess those particular needs and ensure the chosen platform addresses them in the most efficient and effective way. Our anti-money laundering software allows you to streamline, manage, and report on everything in your program from one location. This reviewer was invited by the software vendor to submit an honest review. It is critical to have AML Software that depends on artificial intelligence rather than some stringent numerical rules. Benefits of Machine Learning. AMLYZE is a Software-as-a-Service (SaaS) Anti-Financial Crime solution offering different modules for real-time and retrospective transaction monitoring, customer risk scoring, case management and sanctions, PEPs, adverse media screening. We'll assist you in selecting the AML software that best meets your demands once we've evaluated all of the AML options. Let’s take a quick look at each component of this process. Socure serves 1000+ customers including financial services and fintech leaders, and. AML software prevents organizations from doing business with fraudulent organizations that may impact their profitability and damage their reputation. 3. Top 3 products are developed by companies with a total of 30k employees. (1) 5. It offers an AML program that includes fast, easy, and inexpensive training for US-based financial services companies. Reset. Use our filters to find the best rated software for your business needs. In its latest report on global financial institution fines for the first six months of 2021, Fenergo found that fines for non-compliance with AML, KYC, data privacy, and MiFID regulations totaled $937. AnChain. Assess product onboarding and customer. Additionally, Transaction AI creates and manages. Fraud Detection. FreshBooks. Anti-Money Laundering ( AML software) is software used in the finance and legal industries to help companies comply with the legal requirements for financial institutions and other regulated entities to prevent or report money laundering activities. OVERALL RATING: 5. Vendor consolidation can help financial institutions achieve this by providing a more complete view of their compliance efforts. Money launderers are targeting law. Compare the best AML software in South America currently available using the table below. Anti-money laundering (AML) software is a part of RegTech and is extensively deployed in the finance, legal, and commerce sectors to conform to the legal requirements in financial institutions to mitigate, prevent or uncover money laundering activities. See how Alloy can help protect your company.