Overview

The transaction monitoring tool is required to manage payments (in and out) from a regulatory perspective to prevent suspicious activities such as money laundering.

We are monitoring and live tracking all transactions and enabling, through our BI and Analytics tool, to set up alerts for a fast response action to be addressed with the BaaS from the Customer.

If payment is initiated by breaking any of the defined rules, an alert can be sent by email, according to the alert system defined by the customer in our BI and analytics tool. This way, any action can be promptly initiated.

FAQs

Q: Can I track and prevent operations for incoming funds?
A: Yes, you can set up alerts for incoming and outgoing funds transfers. However, these operations are already processed.

Q: How should I proceed when an alert is raised?

A: Given the fact that this is an “a posteriori” process, the customer can run actions on their side such as:

• Evaluate the risk on a case-by-case basis
• In case of suspicious activities, the customer can block access to the portals, therefore to the funds until further investigations are run
• If the activities are found as risk or high risk, the customer can reject the client from the admin portal as well
• The customer should get in touch with the BaaS provider to alert on time of the suspicious activities
• In the case of some payment rails, the transactions can be quarantined or rejected by the BaaS itself before happening