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Monitor your transactions and network with Go!KYT
Algoreg Go!KYT is a comprehensive financial transaction monitoring solution designed to enhance compliance with regulatory requirements and mitigate the risks associated with money laundering and terrorist financing. As part of our all-in-one KYC (Know Your Customer) and KYT (Know Your Transactions) solution, Algoreg Go!KYT combines advanced analytics, real-time monitoring, and cutting-edge technology to provide you with a powerful tool to ensure the integrity of your financial operations.
Algoreg Go!KYT consists of three main components that work in synergy to deliver comprehensive transaction monitoring capabilities.
Data ingestion
One of the significant advantages of Algoreg’s all-in-one product, which combines KYC and KYT functionalities, is the ability to have all relevant data in a single, centralized location. By capturing and organizing comprehensive data about counterparties and transactions, this step sets the foundation for a thorough understanding of the industry, transaction volumes, and schemas specific to your customers.
Data definition and supported fields
Get more details about the fields we support, how to add custom fields and more.
Real-Time Transaction Monitoring
Algoreg provides a simple way to classify incoming transactions in real-time. Leveraging a flexible rule system, our solution first assigns a risk score to each transaction. Based on this score, we determine whether a transaction should be blocked, allowed to pass, or flagged for human verification.
This happens in 4 steps:
1. Define rules and categories
In your Go!KYT rules configuration page, you can define the main KYT rules. The rule system supports complex decision trees, similar to the one you can build for Go!Risk.
Each rule returns a score between 0 and 100 or returns no score at all if the rule should not be considered (for instance a firm related rule applied on a customer). This score is used as a maximum or is weighted and used in an average function. You can mix maximum based rules and average based rules.
Rules can use any data known to Algoreg, including custom fields, related to the transaction itself, the customer, or past transactions.
In order to access the past transactions, you will define a time window and several other parameters in the rules configuration page and you will get access to values related to past transactions like average volume, maximum value, frequency, etc.
Go!KYT Rules system
Learn more about our transactions case management and rules system.
2. Send transactions to Go!KYT and get a scoring
When a transaction is received, we reply instantaneously with a score and a status (allowed, blocked, or delayed). The score is computed based on the rules you defined in the previous step, the status is computed based on the score and the thresholds you defined in the Go!KYT configuration page.
| Status | Example score range | Description |
|---|---|---|
allowed | 0 - 50 | The transaction is allowed to pass |
delayed | 50 - 90 | The transaction is delayed and requires human verification |
blocked | 90 - 100 | The transaction is blocked |
Technical documentation to post transactions
Learn how to post a transaction to Algoreg.
3. Review delayed transactions
All the transactions are available in the Go!KYT “transactions” page. Human agents can review and apply their final decision (blocked or allowed) on the delayed transactions.
Like our other products, any change made to a transaction is auditable, can be assigned to agents, can be affected to review groups, and can be commented.
Review transactions
Get more details about the review process and how to review transactions.
4. Resume transaction using webhooks
When a transaction status gets updated, we send you a webhook and you can resume the transaction or inform the customer that the transaction was refused.
Webhooks
Learn more about webhooks in Algoreg.
Post-hoc analysis
In addition to real-time monitoring, Algoreg Go!KYT provides a powerful analysis tool using state-of-the-art graph database technologies. Our tool lets you detect and investigate abnormal transaction patterns, enabling proactive risk management. The global transactions analysis feature can be used as an exploratory tool to delve into your network of transactions, offering valuable insights and helping you uncover hidden connections.
You have nothing more to do to benefit from this feature, all the transactions you post to Algoreg are automatically stored in our graph database and available for analysis in the Go!KYT “network” page. You can adapt the alerting rules to discard alerts for some patterns or include new ones.
Out of the box, we support patterns such as hub and spoke, triangles, clusters, fan-in, fan-out, churn, cascades, and more.
Post-hoc analysis
Learn more about our graph based transactions network pattern alerting and exploration tool.
Technical integration
Integrating Algoreg Go!KYT into your existing infrastructure is a straightforward process, we use REST and JSON to easily communicate with your systems. Read the following documentation to get started.
API reference
Technical documentation of Go!KYT