transaction monitoring software

Transaction monitoring software is a tool used by financial institutions to oversee and analyze financial activities in real-time. It detects unusual or suspicious transactions that might indicate fraud, money laundering, or other financial crimes. The software applies rules and algorithms to identify patterns or behaviors that deviate from normal activity. When something suspicious is found, it alerts compliance teams for further investigation. This helps ensure financial transactions are legal and compliant with regulations, protecting both the institution and its customers.