Simplifying Compliance and Fraud Prevention
Helping organizations stay ahead of risks, maintain compliance and avoid fines and sanctions
Alessa, meaning noble defender, is a continuous controls and financial crimes risk management solution that allows organizations to quickly identify suspicious activities and high-risk entities in compliance, finance, purchasing and procurement programs. With early detection of elevated risk, Alessa allows organizations to investigate these activities early, make informed decisions, automatically create an auditable trail, comply with regulations and protect revenues.
Alessa is already trusted by banks, MSBs, fintechs, insurance, gaming, manufacturing and retail companies in over 20 countries to prevent money laundering, breaches in internal controls, purchase card (p-card) abuse, travel and entertainment (T&E) expenses fraud, and insurance fraud. Alessa is also used for sanctions screening of clients, transaction monitoring, retail store monitoring and taxation reporting and customs compliance.
Alessa integrates with existing systems to detect suspicious activities, automate processes, reduce false-positives, decrease repetitive tasks and engage the entire organization in a culture of compliance. The solution includes :
Alessa protects organizations by identifying high-risk persons and businesses and enabling them to manage the risk. The solution offers:
Alessa allows investigators to easily confirm or dismiss matches and log decisions for future reference. It also provides extensive reports that enable assessments of the effectiveness of the screening process.
Alessa allows companies to examine all electronic activity for errors and fraud during the procurement cycle before payments are made. The solution includes:
Fraud Detection & Prevention
Build fraud management directly into your daily operations with Alessa. Using risk intelligence data and advanced analytics such as anomaly detection and machine learning, our solution is able to detect high-risk activities, persons and businesses.
At Alessa we help organizations focus on prevention as opposed to expensive investigations and cost-recovery services.
Continuous Controls Monitoring
Whether through internal audit or risk management units, Alessa can continuously monitor internal controls and processes to detect failures and prevent the loss of time, money and reputation.
This is done by allowing organizations to assess performance of programs against targets, flagging potential violations and connecting disparate data sources to create aggregate insights that can be used to identify control breakdowns and opportunities to improve controls, governance and efficiencies.
Alessa offers the ability to screen transactions in real-time, by events and/or periodically. The solution feeds transactions into the analytics platform and depending on the configuration, will either allow, flag or block transactions.
High-risk transactions can be sent for further investigation using Alessa’s workflow and case management module and a decision made to confirm or release the block.
All workflows are configurable to be as granular or simple as required. Features include assignments to users/teams, permissions, escalations and root cause indicators.
“ Two years ago we didn’t expect that in this pandemic phase, IDEA and Pentana Audit software utility could really help in a remoted audit process, in term of the desk audit process as well as the reporting activity process. With IDEA data analytic, the process of the desk audit can save the field work & visit time up to 70%, this could happen because IDEA can analyzed and do the data processing to identify risks and spesific scoop at the beginning of the desk audit process. ”
“ Our audit teams use a data extraction and analysis tool, IDEA. This allows teams to analyse large amounts of financial data. Using IDEA, we can access such data in seconds, saving time and money for our clients. ”
“ I absolutely recommend IDEA. It lets us quickly analze 100% of our data using repeatable procedures. It’s also advanced enough to provide what I call a ‘one-click’ solution where it creates a dashboard populated with charts and field statistics that make it easy to see the outliers. Generating a result with just a couple of clicks is awesome. ”
“ We use data analytics in all phases of the audit. During the planning stage, we use it for scoping and sizing. During fieldwork, we use IDEA because we can analyze the entire population, which would not be possible with manual analysis. IDEA makes it easy to create new tests and narrow the population so we can focus on anomalies and exceptions. ”
“ Pentana Audit helps us understand our risk better which helps us be prepared for any type of event by enabling a continuous risk-based audit execution process. With Pentana Audit we are now more adaptable for changes and that makes us better prepared for emerging risks. ”
“ It’s been an incredibly effective way for us to build the risk culture within the organization. All of our lines of business now know the name Pentana! ”
“ With Pentana Audit we are saving approximately 100 working hours per audit and with an average of 12 audits every year that is an astounding saving. ”