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Automate your transaction monitoring

Since the entry of Wtt 2018 DNB has been conducting several investigations to determine if financial service providers comply with the legal requirements of Wtt 2018. An important outcome of these investigations is that trust offices need to automate their transaction monitoring process. DNB expects trust offices, to use ‘electronic resources’ in order to monitor these transactions accurately (DNB, 2021).

Raemonda makes it possible to automate your transaction monitoring process of all your object companies by only importing a single csv-file (or MT-940 & SEPA xml-batches). Raemonda also offers you the possibility of importing csv-files from any bank around the world and from all financial or bookkeeping program. With our software you will be able to monitor easily five, fifty but just as easy hundreds or thousands of transactions simultaneously and Raemonda compares immediately whether this transactions match with the defined transaction-profile of the object company.

DNB explicitly highlights the importance of detecting unusual/unexpected transactions in an adequate way (DNB, 2021). Our transaction monitoring-feature will automatically detect such unusual transactions. You have immediate and automatic insight into whether the cash expectations correspond with the actual processed transactions of your object company. After importing your csv-files, all transactions will be automatically compared with your pre-defined cash expectations.

If a cash expectation does not match with each attribute/filter described above, Raemonda will detect this immediately and the transaction will be marked as ‘unexpected’.

With this feature of Raemonda you will create a continuous way to monitor your pre-defined transaction-profile. This is an effective method to automate your transaction monitoring process which is in line with DNB’s expectations.

Are you interested in how Raemonda would support your organisation with its automated transaction monitoring or would you like to get a short demo of this feature? Call or mail Rien Janssen, he can be reached at + 31 (0) 6 51 91 51 33 / r.janssen@compliance-innovations.com

 

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