logo
Azentio unveils next-generation Amlock AML solution with advanced AI, smarter screening, and streamlined user experience

Azentio unveils next-generation Amlock AML solution with advanced AI, smarter screening, and streamlined user experience

PRNewswire
Singapore, May 22: Azentio Software, a leading technology enabler in the BFSI space, announces the launch of its next-generation Amlock anti-money laundering (AML) platform, bringing powerful new capabilities to financial institutions in the fight against financial crime. Powered by advanced AI and machine learning, Amlock is designed to significantly improve detection accuracy, reduce operational workload, and ensure compliance in an increasingly complex regulatory landscape.
This next generation of Amlock helps financial institutions (FI's) detect and manage financial crime by delivering a comprehensive, AI-driven approach to AML that covers the entire customer lifecycle, from onboarding to monitoring, screening, risk management, investigation and reporting. By reducing false positives by up to 40% and streamlining workflows, FI's can slash compliance costs by at least 20%.
With smart automation and a flexible, modular design, Amlock easily adapts to changing regulations and scales to fit institutions of any size, from local banks to global firms. The latest version adds major improvements in screening, monitoring, and case management, making compliance faster, more accurate, and more efficient. Crucially, every institution using Amlock has maintained a flawless record of zero AML-related regulatory fines which is a compelling endorsement of its unmatched reliability and proactive performance in safeguarding compliance.
The new Amlock offers AI-enhanced capabilities including:
1. Smarter screening capabilities - offer better accuracy with advanced matching algorithms for customer screening and transaction screening with pre-configured watchlists, local lists, custom lists and rich SWIFT message library with local format support.
2. Intelligent alert triage and case resolution - simplify complex investigations with centralized alert and case management that supports workflows, audit trails, and collaborative resolution. Designed for scalability, it ensures operational efficiency and compliance at every step.
3. End-to-end KYC and onboarding automation - is integrated with identity verification, corporate intelligence for enhanced due diligence, and customer lifecycle risk management into a unified compliance framework. Features like AI-based peer profiling, dynamic risk scoring, clustering and event-triggered reviews help institutions ions maintain an up-to-date understanding of customer risk.
4. Smarter transaction monitoring - with over 400 ready-to-use rules for banking, lending, insurance, and fintech. Built-in AI helps spot patterns and connections, cutting down on false alerts.
5. Smarter decision-making using AI to predict and suppress alerts that are likely low risk, helping teams focus on real threats. The system learns continuously from new data, becoming more accurate the more it's used.
Commenting on the launch, Ruchi Tripathi, Director of Product Management at Azentio, said, "At Azentio, we understand the critical challenges financial institutions face in combating financial crime while maintaining compliance. Our next-generation Amlock is a direct response to these challenges, combining the best of AI technology with a deep understanding of the financial services sector. By significantly reducing false positives, cutting compliance costs, and ensuring zero fines, Amlock sets a new standard in AML technology."
About Azentio
Azentio is a leading provider of purpose-built, intelligence-driven technology solutions designed to transform the banking, financial services, insurance (BFSI), and enterprise resource planning (ERP) sectors. By combining cutting-edge innovation with deep domain expertise, Azentio empowers businesses to accelerate growth, enhance operational efficiency, and stay ahead in a rapidly evolving market. With a strong presence across the Middle East, Africa, and Southeast Asia, Azentio delivers world-class technology that streamlines processes and delivers tangible results, enabling organizations to achieve sustainable success. For more information on Azentio, please visit www.azentio.com.
Logo: https://mma.prnewswire.com/media/2670942/Azentio_Logo.jpg

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Motown India seeks govt intervention as rare earth deadlock deepens
Motown India seeks govt intervention as rare earth deadlock deepens

Hindustan Times

timean hour ago

  • Hindustan Times

Motown India seeks govt intervention as rare earth deadlock deepens

China controls over 90 per cent of global processing capacity for the magnets, used across multiple sectors, including automobiles. Notify me The automobile industry has sought government support in expediting approvals from the Chinese government for importing rare earth magnets used in various applications, including passenger cars. As per the industry sources, various domestic suppliers have already sought approval from the Chinese government through their local vendors in China. However, no approvals have been granted so far, sources said. China controls over 90 per cent of global processing capacity for the magnets, used across multiple sectors including automobiles, home appliances and clean energy. The Chinese government has put restrictions, with effect from April 4, mandating special export licences for seven rare earth elements and related magnets. In Japan, Suzuki Motor has already suspended production of its Swift car because of China's curbs. Last week, Maruti Suzuki India Senior Executive Officer (Corporate Affairs) Rahul Bharti said China has asked for an end-user certificate, endorsed by the Indian government and approved by the Chinese government. "So that process is on and industry is in discussion with the government," he stated. Deloitte India Partner and Automotive Sector Leader Rajat Mahajan noted that the shortage is a major supply chain disruption, especially for EVs, as rare earth metals are used extensively in the electric moto,r which is a core component. Rare earth magnets have high magnetic energy storage capacity with low coercivity at high operating temperatures. "This has been an R&D topic for the automotive industry for a long time, but till now other magnetic materials have not seen large-scale commercial usage in applications like EV," he noted. Also, there are not enough rare earth magnets to recycle at this point in time to satisfy the EV volumes, Mahajan said. It will not be easy for OEMs to suddenly change course on powertrain as well as on alternate material. "This situation will hopefully get resolved via diplomatic channels, but if it continues, then we may see a shift towards powertrains for large OEMs," he said. Icra Senior Vice President & Co-Group Head Corporate Ratings Srikumar Krishnamurthy noted that rare earth magnets are used for multiple applications in EVs - electric motors, regenerative braking systems, power steering etc. Given that China accounts for around 90 per cent of the overall supply for rare earth magnets, the curb on export of the same by China can have material implications for the EV industry, he added. "The implications could include inflationary pressures (led by higher cost for rare earth magnets against the backdrop of shortage) or even disruption in production schedules in the absence of a seamless supply of the same," Krishnamurthy stated. While OEMs are evaluating options to reduce dependence on the supply of rare earth magnets, finding immediate alternatives is going to be challenging, he said. The critical materials include samarium, gadolinium, terbium, dysprosium and lutetium, which are essential in electric motors, braking systems, smartphones and missile technology. Get insights into Upcoming Cars In India, Electric Vehicles, Upcoming Bikes in India and cutting-edge technology transforming the automotive landscape. First Published Date: 09 Jun 2025, 06:45 AM IST

China tightens supply: India's auto industry seeks govt help on rare earth magnet imports; key EV parts impacted
China tightens supply: India's auto industry seeks govt help on rare earth magnet imports; key EV parts impacted

Time of India

time2 hours ago

  • Time of India

China tightens supply: India's auto industry seeks govt help on rare earth magnet imports; key EV parts impacted

The Indian automobile industry has urged the government to step in and help fast-track pending approvals from Chinese authorities for importing rare earth magnets —key components used in electric motors and various car applications. According to PTI, industry sources revealed that, several Indian suppliers have applied for approvals through their local partners in China. But no permissions have been granted so far. China processes over 90% of the world's rare earth magnets , which are widely used in parts like speedometers, electric motors, e-axles, electric water pumps, automatic transmission kits, speakers, sensors, and engine ignition coils. Since April 4, the Chinese government has imposed restrictions requiring special export licences for seven rare earth elements and related magnets. In Japan, Suzuki Motor halted Swift production due to these restrictions. Earlier last week, Maruti Suzuki India's Senior Executive Officer, Rahul Bharti, said that China has requested an end-user certificate, which must be endorsed by the Indian government and approved by the Chinese authorities. "So that process is on and industry is in discussion with the government," he added. Deloitte India's Automotive Sector Leader Rajat Mahajan highlights this shortage as a significant supply chain disruption , particularly affecting EVs. These magnets possess high magnetic energy storage capacity with low coercivity at elevated operating temperatures. "This has been an R&D topic for the automotive industry for a long time but till now other magnetic materials have not seen large scale commercial usage in applications like EV," he continued. There aren't enough rare earth magnets available for recycling to meet current EV production demands, said Mahajan, adding that it's not easy for automakers to quickly shift to different powertrains or alternative materials. "This situation will hopefully get resolved via diplomatic channels, but if it continues then we may see a shift towards powertrains for large OEMs," he further noted. Icra's senior vice president and co-group head for Corporate Ratings, Srikumar Krishnamurthy, explained that rare earth magnets are essential in several EV components like electric motors, regenerative braking systems, and power steering. Since China supplies around 90% of the world's rare earth magnets, its recent export restrictions could significantly impact the EV industry. This might lead to higher prices due to shortages and even disrupt production schedules. "The implications could include inflationary pressures (led by higher cost for rare earth magnets against the backdrop of shortage) or even disruption in production schedules in absence of a seamless supply of the same," Krishnamurthy added. While carmakers are exploring ways to cut reliance on Chinese supplies, finding immediate alternatives remains difficult. These rare earth materials include critical elements such as samarium, gadolinium, terbium, dysprosium, and lutetium—used not only in EVs but also in smartphones and missile technology.

Feud on pause? Aides of Elon Musk and Donald Trump hold talks; but 'relationship remains uncertain': Report
Feud on pause? Aides of Elon Musk and Donald Trump hold talks; but 'relationship remains uncertain': Report

Time of India

time15 hours ago

  • Time of India

Feud on pause? Aides of Elon Musk and Donald Trump hold talks; but 'relationship remains uncertain': Report

Elon Musk and Donald Trump (File photo) The fragile peace, following the social media conflict between US President Donald Trump and billionaire entrepreneur Elon Musk held steady, as their aides engaged in talks on Friday, according to two White House officials cited by Politico. However, one of the officials addressed Trump's Truth Social hiatus with Musk saying, "He's stopped posting, but that doesn't mean he's happy," "The future of their relationship is totally uncertain," added the official, speaking under anonymity. Both individuals have temporarily ceased their public disagreements, which included Musk's impeachment suggestions and Trump's threats regarding federal contracts for Musk's enterprises. Neither party was keen on this cessation, according to the officials familiar with both men's sentiments. Trump was particularly irritated by Musk's suggestion of presidential connections to Jeffrey Epstein , stating Trump was "in the Epstein files." While Trump's name appears in publicly available Epstein-related court documents alongside other prominent figures, no wrongdoing has been linked to Trump. However, Musk's claim about Trump's electoral victory depending on his support, including substantial political contributions, particularly angered the president, the officials claimed. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 5 Books Warren Buffett Wants You to Read In 2025 Blinkist: Warren Buffett's Reading List Undo This dispute between the two emerged as the president and Republican leadership attempted to advance significant domestic policy legislation, potentially Trump's most substantial second-term achievement. Musk criticised the megabill for having a "MOUNTAIN of DISGUSTING PORK." When contacted, press secretary Karoline Leavitt told POLITICO, "As President Trump has said himself, he is moving forward focused on passing the One Big Beautiful Bill." The reported talks between the aides come just days after reports claimed that Musk might have talks with White House officials, although a direct dialogue between them seems improbable at present. Read more: Direct talks unlikely; White House aides may engage- report Tensions began rising before last week's social media exchanges. Trump expressed disappointment in Musk's overselling of DOGE's capacity to reduce federal bureaucracy. The White House's withdrawal of Jared Isaacman's Nasa leadership nomination, Musk's preferred candidate, reportedly further strained relations. A senior White House official informed Fox News' chief White House correspondent Peter Doocy that presently there are no plans for Trump and Musk to speak directly. Fox News learnt from a source close to the matter that "Musk wants a call. POTUS hasn't made a decision," suggesting that Trump is unlikely to engage with Musk, particularly on Friday. White House personnel director Sergio Gor, responsible for this decision, has maintained ongoing friction with the billionaire, according to both White House officials. Musk declined cooperation with Gor following a March Cabinet meeting where the president asserted departmental heads' authority over Musk, who attended the meeting. This meeting occurred after the Tesla founder initiated widespread dismissals and warnings to government employees, resulting in legal challenges and bipartisan criticism. While most lawmakers and Republican strategists believe Trump maintains advantage in any potential future conflict, Musk represents an unprecedented opponent: the world's wealthiest individual with social media influence comparable to presidential authority.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store