Business Rules Designer and Engine
Transaction Monitoring and Risk-Based Profiling both run on business rules. The Rule Designer is where those rules are written, tested and published, by the people accountable for them rather than by a release.
The DetectX® approach
Rules are created, adjusted and removed through the Rule Designer, which also handles intricate patterns, connections to external data sources, and the dictionaries that hold the static reference data a rule looks things up in.
A rule is a versioned artefact. A new version is published when it is ready, the previous versions are retained, and a rollback is a selection rather than a rebuild.
- Define new rules
- New rules and filters are written to your own requirements, without a change request.
- Publish versions
- Rules, scripts and dictionaries are published as versions, so what is running is always identifiable.
- Version history and rollback
- Every previous version is kept, and restoring one is straightforward when a change produces unexpected results.
- Export and import
- A rule written once can be exported and reused in another context, or imported from elsewhere.
- User entitlements
- Admin users control access to the interface as a whole, or to individual rules, by assigning ownership.
What it changes
A ruleset that only a vendor can change ages at the vendor's release cadence. One the compliance team maintains ages at the rate the risk does, which is the rate that matters.
- Ownership sits with accountability
- The team answerable for a detection threshold is the team that can move it.
- Change is evidence
- Who changed which rule, when, and what it replaced is part of the record rather than a ticket history.
Why DetectX®
The Rule Designer is one interface across the modules that use rules, so a threshold means the same thing in Transaction Monitoring as it does in Risk-Based Profiling. Per-module rule editors drift, and the drift is found during an examination.
Regulatory requirements
DetectX® supports the FATF and GAFI recommendations, and is used against Swiss regulatory requirements including GwG, FINMA-GwV, VsB 16, KAG, FinfraG, FidleG, BEHG and KKG.
It also supports MiFID and EMIR reporting obligations, and BASEL II and III requirements.
See Business Rules Designer and Engine on your own data
A demo runs against a scenario you choose, so the alert volume and the match quality are yours rather than ours.
Request a demo