Regxsa deepens human factor in fighting money laundering


Bringing an elevated level of humanisation to the fight against money laundering, Regxsa, formerly known as AMLabc, has launched the cloud-based solution Alexis

The new solution boosts Regxsa supporting of the Financial Institutions as they seek to meet local and global regulatory requirements.

Abhishek Dwivedi, CEO of Regxsa commented: “Previously, there was limited information available on Money Laundering schemes. There were not a lot of cases on the internet. I started a portal, gathered information such as news, case studies and fines across the world. At the same time, the focus of the company was on consultancy services, for example at Rabobank and ING. 

“For years, the company consulted in patterns and behaviours on how the products and services could be abused for money laundering and what kind of controls could be put in place. Training and awareness was also part of our activities. We have years of on the ground experience across different Financial Institutions and have seen all the ups and downs. Knowing what is and isn’t possible led to the launch of Alexis, an out of the box solution that works.”

The new launch focuses on efficiency, saving energy and money spent on making the regulators satisfied. In addition, Alexis looks to bring back the human factor in the fight against crimes. 

The solution also has a scalable infrastructure for a significant volume of data and financial institutions can choose where they want to store their data. The location of the cloud can be flexible, which means that institutions worry less about staying compliant with the regulations of their own country compared to the different regulations of the other countries.

Mihai Soroceanu, Alexis Tech Lead at Fortech added: “The concept behind Alexis is to enhance the capability of investigators to take decisions. They need to visually process large datasets in raw formats, or trust different software solutions to make decisions for them. Alexis’ innovative approach is to process large datasets efficiently and present them in an interactive multi-layered visual interface. 

“Working agile with Regxsa was critical to capturing the vision and rapidly embedding it in the product. Alexis has a modular design, as we expect building a custom-tailored experience for various investigation teams. The reusable app components will increase the product’s flexibility in the future, enabling a shorter time-to-market for new features development.”