WatchEye: Real-Time Alerts & Monitoring
Your comprehensive ‘alert and monitoring’ solution. WatchEye goes beyond traditional monitoring systems by offering a customisable experience that integrates ongoing surveillance of various critical data points or financial transactions. This solution ensures your regulatory compliance and supports your efforts to prevent financial crime.
About WatchEye
WatchEye is an advanced monitoring and alert system designed to keep your business secure and compliant. By integrating ongoing surveillance of various critical data points, WatchEye ensures that you are instantly notified of any changes or suspicious activities, allowing you to take prompt and effective action. Whether you need to comply with AUSTRAC AML/CTF regulations, monitor financial transactions for suspicious activities or monitor debt recovery files, WatchEye has you covered with real-time, batch or scheduled alerts and comprehensive monitoring.
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What Can WatchEye Monitor?
Transactions
Pep & Sanctions
Customer Files
Identifications
Email Connectivity
Phone Connectivity
Address Changes
Business Changes
Adverse Criminal Listings
Court Cases
Do Not Call Register
IP Addresses
Deceased Individuals
Property Transactions
Asset Purchasing
When Timing is Crucial
In today’s fast-paced business environment, timing is critical. Receiving monitored alerts through WatchEye ensures that your organisation can take proactive action swiftly. Whether it’s reporting suspicious activities to AUSTRAC under their SMR (Suspicious Matter Report), to the authorities or simply being aware of changes in a customer’s file, timely notifications are essential. WatchEye enables you to respond effectively to potential threats or important updates, maintaining the security and compliance of your operations. With WatchEye, you are always one step ahead, preventing issues before they escalate and ensuring that you are fully informed about your customers’ activities.
Transaction Monitoring
Monitor financial transactions with detailed alerts for any suspicious activities, aiding in SMR AUSTRAC reporting. Obtain full audit history on each individual account.
AML/CTF Name Screening
Stay compliant with AUSTRAC regulations with alerts specifically designed for AML/CTF clients, screening for PEPs, Sanctions, and other adverse data information.
Customer File Monitoring
Keep track of modifications in customer files, including address updates, phone number changes, email modifications, deceased status, and alerts on specialised events such as court cases, property sales and more.
How does WatchEye work?
WatchEye simplifies the monitoring process into four easy steps, ensuring that your organisation remains secure and compliant with minimal effort.
Load or Identify Data File to be Monitored
Begin by loading your customer data files into the WatchEye system or identifying the specific files you wish to monitor. This step ensures that all relevant data points are included in the monitoring process.
Select the Type of Monitoring Program
Choose the specific type of monitoring program that suits your needs, such as transaction monitoring, PEPs and sanctions screening, or other specialised monitoring services. This allows you to tailor Watcheye’s capabilities to your unique requirements.
Select the Frequency of Alerts
Determine how often you want to receive alerts. Options include real-time notifications, daily summaries, or weekly reports. This flexibility ensures that you stay informed in a manner that best fits your operational workflow.
Run & Monitor
Activate the monitoring program and let WatchEye continuously track the specified data points. The system will automatically alert you to any changes or suspicious activities, allowing you to take prompt and effective action.
PRODUCT PURPOSE
WatchEye is a leading product solution that specialises in
Utilise Global Data’s transaction monitoring to detect, analyse, and respond to suspicious activities, ensuring compliance and security.
Ensure AUSTRAC compliance with Global Data’s AML solutions, offering robust monitoring, reporting, and risk management capabilities.
Leverage our financial crime management solutions for thorough Enhanced Customer Due Diligence, continuous monitoring, and effective management of Politically Exposed Persons.
Common Questions about WatchEye
How quickly can I start using WatchEye after signing up and can I trial it free?
Yes, you can trial or test WatchEye’s functionality for free. Once you sign up, setting up WatchEye is quick and straightforward. After loading your data files and configuring your monitoring preferences, you can start receiving alerts almost immediately. Our support team is available to assist you with the setup process to ensure a smooth transition.
What are configurable alert and monitoring rules in the Watcheye platform?
Configurable alert and monitoring rules in the Watcheye platform allow users to set specific criteria and thresholds that trigger alerts or monitoring actions when certain conditions are met. These rules can be tailored to align with the unique risk profile and compliance requirements of your organisation, ensuring that only relevant risks are flagged for review.
Can I set different rules for different customer segments?
Yes, Watcheye allows you to create and apply different rules for various customer segments. This means you can tailor your monitoring efforts based on factors such as customer type (e.g., Credit, corporate), geographic location, or transaction patterns, ensuring that each segment is monitored according to its specific risk profile.
Can my onboarding files automatically integrate with WatchEye?
Yes, WatchEye is designed for seamless integration with your existing systems. Whether you prefer a SaaS model or API integration, WatchEye can be incorporated into your current workflows with minimal disruption, providing a unified compliance and security solution.
What types of alerts can WatchEye provide?
WatchEye offers a range of alerts including real-time notifications, daily summaries, and weekly reports. These alerts cover various monitoring needs such as Transaction Monitoring, PEPs and Sanctions screening, Debt Recovery file changes, and more, allowing you to stay informed about any critical data updates.
How does WatchEye help with AUSTRAC compliance?
WatchEye is specifically designed to help you meet AUSTRAC compliance requirements. By providing real-time alerts for suspicious activities, monitoring transactions, and screening for PEPs and sanctions, WatchEye ensures that you adhere to regulatory standards and can respond swiftly to potential issues. It provides a full audit trail on each customer being monitored, ready to export or extract for regulatory compliance.
Does WatchEye support our Ongoing Monitoring Programs?
Yes. This is exactly what WatchEye was created to do. This system plays a vital process in your company’s Ongoing KYC/AML compliance program and backbook screening.
What alert frequency can WatchEye support?
You have control to set the desired monitoring and alert frequency. Simply prioritise your alerts according to the level of risk on your customer files or transactions.
What is the cost of WatchEye?
It is a subscription-based system and the cost is quoted based on monitoring frequency period and volume of files to be monitored. Please contact us for a demo and tailored pricing proposal.
OUR CLIENTS
Who we work with
To discover our specific client partnerships, request our product summaries. Details on who we collaborate with are included therein.
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