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Trade iQ™: Empowering Financial Institutions to Tackle Trade-Based Money Laundering
Explore our success stories and testimonials from top banking partners as they share their experience with our cutting-edge AI-based TBML software solution.
Learn how we've transformed trade finance compliance and empowered these financial institutions to confidently navigate the ever-evolving regulatory landscape.
United Bank Limited (UBL) partnered with AKS iQ to implement Trade iQ™, an advanced trade-based anti-money laundering (TBML) solution. This innovative solution has enabled UBL to execute import and export transactions in a highly automated environment, streamline AML checks, and improve service standards, customer experience, and risk management.
“United Bank Limited (UBL) has partnered with AKS iQ, a leading Reg Tech company, to implement an advanced trade-based anti-money laundering (TBML) solution in line with the Bank’s commitment to innovation and digitization. This high-tech solution will enable UBL to execute import and export transactions in a highly automated environment while conducting Anti-Money Laundering (AML) checks with greater flexibility, mitigate operational and compliance issues and facilitate data-driven decision-making across key departments, improving service standards, customer experience and reducing risk levels.”
Source: Business Recorder, Daily Times
AKS iQ Partners with UBL
AKS iQ Partners with UBL
Faysal Bank Limited (FBL) collaborated with AKS iQ to develop and implement a state-of-the-art trade solution, Trade iQ™. The platform has empowered FBL to execute import and export transactions in a highly automated environment, optimize risk levels, and enhance overall service standards and customer experience.
"The innovative solution will help Faysal Bank execute import and export transactions in a highly automated environment and provide flexibility to perform checks on price verifications, vessel tracking, dual use of goods, etc. through pre-defined checks, validations, workflows, and reference data sources.”
Source: Business Recorder
“FBL carries the highest local Sharia rating of SCFR1 by the International Islamic Rating Agency (IIRA) and provides the best and widest range of Shariah-compliant banking products and services to meet their customer’s Halal banking needs with convenience. With an expanding network of almost 700 Islamic branches, Faysal Bank has a footprint in 253 cities/towns across Pakistan.”
Source: ProPakistani
AKS iQ Partners with Faysal Bank - Islami
AKS iQ Partners with Faysal Bank - Islami
Standard Chartered Pakistan and AKS iQ teamed up to revolutionize Trade-Based Money Laundering (TBML) in Pakistan with Trade iQ™, the nation's first AI-based TBML solution. The partnership has enabled Standard Chartered Bank to strengthen its trade-based anti-money laundering system using artificial intelligence and big data solutions.
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We're thrilled to share that AKS iQ has been featured in a recent Dawn newspaper article discussing "The Future & the importance of Digital Transformation & Fintech".
Our state-of-the-art Trade iQ™, was highlighted in the article as an innovative AI-driven solution that is transforming the way financial institutions tackle trade-based money laundering (TBML) risks and terrorist financing.
Trade iQ™, an innovative AI-driven solution, is transforming the way financial institutions tackle trade-based money laundering (TBML) risks and terrorist financing. As a comprehensive, fully automated platform, Trade iQ™ empowers banks to adhere to stringent regulatory frameworks while effectively managing risk, ensuring compliance, and revolutionizing the trade finance compliance landscape.
In our interconnected world, legitimate trade transactions have become an attractive channel for bad actors to conceal illicit activities. Exploiting the complexity and sheer volume of international trade, money launderers, and terrorist financiers evade detection. Consequently, regulators mandate banks to prioritize trade-related risks in their AML/CFT policies and procedures.
AKS iQ, a leading RegTech company, developed Trade iQ™, an AI-enabled TBML solution for financial institutions. With this advanced technology, banks can execute import and export transactions in a highly automated, paperless environment. Trade iQ™ streamlines AML checks, offers unprecedented real-time flexibility, mitigates compliance risks, improves operational efficiency, and facilitates data-driven decision-making across departments. This results in elevated service standards, enhanced customer experiences, and reduced risk levels.
By partnering with banks, AKS iQ bolsters risk management capabilities and promotes a paperless environment, contributing to a safer, more sustainable financial ecosystem. The advanced AI capabilities of Trade iQ™ help financial institutions stay ahead of emerging threats and keep pace with the rapidly changing regulatory environment.
Trade iQ™ provides an end-to-end solution for TBML checks on transactions, covering a complete journey across departments. The comprehensive suite includes price due diligence, policy checks, dual-use goods checks, sanctions screening, PEP checks, crime watchlist checks, vessel and container tracking, customer risk profiling or KYC, and bank trade risk profiling. Trade iQ™ also features AI-based real-time transaction monitoring and seamless integration options with banking systems.
Supporting banks' green and paperless vision, Trade iQ™ incorporates a state-of-the-art document digitization and management solution, a robust workflow engine, and tailored dashboards and reports. This platform is trusted by leading banks to meet regulatory compliance requirements for trade-based anti-money laundering.
The implementation of Trade iQ™ not only improves the overall efficiency of compliance departments but also allows financial institutions to adapt their strategies in response to new risks and regulations. In this way, banks can maintain their commitment to fostering a transparent, responsible, and resilient financial sector.
Trade iQ™'s success can be attributed to its flexibility and adaptability, which allow it to seamlessly integrate with existing banking systems and infrastructures. This ease of integration ensures a smooth transition and minimizes disruptions, allowing banks to focus on what matters most: serving their customers and growing their business.
In conclusion, Trade iQ™ reshapes the trade finance compliance landscape through artificial intelligence and automation. By addressing TBML and terrorist financing challenges, Trade iQ™ ensures that financial institutions confidently navigate the evolving regulatory landscape, maintaining a secure, paperless, and sustainable future.
Trade iQ™ is revolutionizing the trade finance compliance landscape through artificial intelligence and automation. Trade iQ™ has helped leading banks navigate the complex world of trade finance compliance
with confidence. By addressing TBML and terrorist financing challenges, Trade iQ™ ensures that financial institutions confidently navigate the evolving regulatory landscape. Join the growing list of prestigious
banks trusting Trade iQ™ to maintain a secure, paperless, and sustainable future.
Key Banking Customers
"This key partnership will enable the Bank to enhance the management of its existing risk portfolio, mitigate operational and compliance issues and facilitate data-driven decision-making across key departments."
Shazad Dada
"We worked under the guidance of the central bank to come up with this unique solution which is going to revolutionize the way we are going to look at the trade based initiatives."
Majid Aziz
"For Faysal Bank, technology as an enabler is a key focus area. We have invested significantly in this area and are now starting to reap the benefits."
Syed M. Fraz Zaidi
"AKS iQ is our partner in solving most unique and complex technological problems. This partnership will enable us in designing and strengthening our trade based anti-money laundering system."
