RegTech and KYC/AML Compliance Software Development

Digital KYC onboarding flow collecting the customer's identity document through a mobile or web interface, running automated verification against the document issuer's format database to confirm the document's authenticity, and performing a liveness check to confirm that the person presenting the document is the document's subject. PEP and sanctions screening running the customer's name and date of birth against real-time PEP and sanctions databases -- WorldCheck, Dow Jones, or similar -- at the point of onboarding, with the screening result and any matches recorded against the customer's KYC record. Adverse media screening checking the customer's identity against adverse media sources at onboarding and at configured intervals during the customer lifecycle, with significant negative news flagged for the compliance team's review. Risk-based due diligence applying the firm's customer risk classification at the point of KYC completion -- standard due diligence for low-risk customers, enhanced due diligence for higher-risk customers triggered by PEP status, jurisdiction, or product type -- with the EDD steps required for each risk category defined in the configuration and applied automatically. KYC refresh management tracking the expiry date of each customer's KYC documentation and triggering a re-verification request before the document expires, with the re-verification status tracked and escalated to the compliance team if the customer doesn't respond within the configured window.

Transaction monitoring engine applying configured rules to each transaction in real time -- or in batch at a configured frequency for lower-volume businesses -- generating an alert when a transaction or pattern of transactions matches a defined rule. Rule library covering the standard AML transaction monitoring scenarios: structuring patterns, rapid movement of funds, transactions inconsistent with the customer's stated purpose of account, unusual volume spikes, and transactions involving high-risk jurisdictions or counterparties. Rule configuration interface allowing the compliance team to add, modify, and disable monitoring rules without developer involvement, with each rule change versioned and the effective date controlled. Alert prioritisation scoring each generated alert based on the rule triggered, the customer's risk profile, and the transaction characteristics, presenting the highest-priority alerts at the top of the investigation queue. Alert suppression for recurring transactions that have been reviewed and confirmed as legitimate, with the suppression recorded against the alert type and the customer and applied to future alerts matching the same pattern until the suppression is reviewed.

Investigation queue presenting compliance analysts with the alert details -- the transaction or pattern that triggered the alert, the customer's account history, the customer's KYC information, and the previous alerts on the same account -- in a structured format that supports efficient investigation without requiring the analyst to pull data from multiple systems. Case creation for alerts that require more than a single-session investigation, with the case linking all related alerts, the customer record, the investigation notes, and the documents collected during the investigation. Investigation workflow guiding the analyst through the investigation steps required for each alert type -- the account history review, the source of funds enquiry, the transaction purpose assessment -- with each step recorded against the case. Escalation workflow for cases that the analyst concludes require SAR consideration, routing the case to the nominated officer with the investigation summary and the analyst's assessment of the grounds for suspicion. Case outcome recording the conclusion of each investigation -- no further action, enhanced monitoring applied, or SAR submitted -- with the rationale documented and the outcome stored in the case record for regulatory evidence.

SAR workflow managing the nominated officer's review of escalated cases, with the case investigation summary, the supporting evidence, and the analyst's suspicion assessment presented for the officer's consideration. SAR drafting tool producing the SAR in the format required for submission to the NCA's UKFIU through the Suspicious Activity Reports Online system, with the mandatory fields pre-populated from the case record and the narrative fields completed by the nominated officer. Consent request management for cases where the firm needs to seek consent from the UKFIU before proceeding with a transaction, with the consent request, the UKFIU's response, and the action taken recorded against the case. Tipping-off controls preventing information about the SAR or the investigation from being disclosed to the subject of the report, with access to the SAR record restricted to the compliance personnel involved in the investigation and the nominated officer. SAR register maintaining a complete record of all SARs submitted -- the date, the subject, the grounds for suspicion, and the UKFIU reference -- accessible for the MLRO's annual report to senior management and for regulatory inspection.

Customer risk scoring model calculating an AML risk score for each customer at onboarding and updating the score when the customer's profile changes -- a new high-risk jurisdiction transaction, a significant change in transaction volume, or a positive PEP or adverse media result. Risk score triggers generating a compliance review task when a customer's score moves above the threshold configured for enhanced due diligence, or when a specific event -- a transaction to a high-risk jurisdiction, a structuring alert -- requires immediate review regardless of the customer's current risk score. Periodic review scheduling managing the review cycle for each customer risk tier -- monthly for the highest-risk customers, annually for standard-risk customers -- with the review task assigned to a compliance analyst and the completion recorded against the customer's KYC record. Customer activity analysis producing a summary of each customer's transaction behaviour over the review period for the analyst's assessment at periodic review -- the transaction volume, the counterparties, the jurisdictions, and any alerts generated -- alongside the customer's current KYC documentation and risk score. Risk profile change notification alerting the compliance team when a customer's risk classification changes -- a previously standard-risk customer whose transaction behaviour has generated multiple monitoring alerts, or a customer who has been identified as a PEP following a name change or a new public appointment.

Regulatory reporting producing the data required for the FCA's regulatory returns, the annual MLRO report to senior management, and the HMRC reporting obligations applicable to the firm's product type and regulatory permissions -- from the compliance system's structured data rather than from a manual assembly exercise. Audit trail recording every compliance action -- every KYC decision, every screening result, every alert investigation, every SAR submission, and every customer risk score change -- with the timestamp, the user identity, and the data state before and after the action, providing the evidence base for FCA inspection and internal audit. Annual report generation producing the MLRO's annual report on the firm's AML compliance programme -- the KYC completion rate, the alert volume and resolution statistics, the SAR submission count and subject matter breakdown, and the training completion rate -- from the compliance system's activity data. Board and senior management reporting producing the compliance dashboard for board and senior management review, showing the firm's current AML risk exposure, the alert trends, and the SAR activity in a format suitable for non-specialist review. Data retention management applying the retention periods required by the Money Laundering Regulations -- five years from the end of the customer relationship for KYC records, five years from the date of transaction for transaction monitoring records -- with automatic archiving and deletion at the end of the retention period and a record of the deletion for audit purposes.