AML software requirements
Not sure what to look for? Each requirement below explains what the capability means in product-selection terms and shows which providers are verified, partial, unestablished or confirmed absent.
AML program software
Software that helps you produce an AML/CTF program document — not just a checklist. For a firm that needs to build its program, this is the first question to ask a provider.
8 providers verified →
AML program maintenance software
Keeping the program current after initial setup: reviews, updates and a corrective-action loop. A product that produces the document once but offers no upkeep is a different tool from one that maintains it.
3 providers verified →
Independent evaluation support
Support for the periodic independent evaluation of your program, including tracking it as an obligation. Few providers document this at all.
3 providers verified →
AML risk assessment software
A rated risk assessment that drives how the system treats each customer or matter, rather than a static form.
12 providers verified →
AML staff training software
Assignments with completion tracking, so you can show who has been trained and when.
10 providers verified →
KYC software
Structured capture of customer details with a recorded verification decision. KYC (know your customer) is the everyday term for customer due diligence (CDD).
11 providers verified →
KYB software
Verifying a company or other entity against a reliable independent source. KYB (know your business) is separate from checking the people behind it.
9 providers verified →
Beneficial ownership software
Identifying who ultimately owns or controls an entity, with threshold logic. This is different from a basic company check — it traces the people behind the entity.
8 providers verified →
ECDD workflow software
Enhanced due diligence: structured capture of source of funds and source of wealth for higher-risk relationships. A different workflow from standard CDD.
5 providers verified →
Reliance workflow software
Recording a third-party reliance arrangement where another entity performs some of your due diligence.
1 provider verified →
Electronic identity verification software
Verification against an electronic data source rather than paper documents.
12 providers verified →
Liveness detection software
Biometric liveness and face match: confirms a live person is present (anti-spoofing) and matches them to the document photo.
9 providers verified →
AML software with DVS
Document Verification Service access: checking identity documents against the issuing agency through the government's DVS. If DVS is a must-have, only providers verified as offering it can fully satisfy you.
4 providers verified →
PEP and sanctions screening software
Screening against politically exposed persons and sanctions lists, including DFAT consolidated lists.
11 providers verified →
Adverse media screening software
Screening against negative news coverage. Recorded separately from PEP and sanctions screening.
7 providers verified →
Ongoing customer monitoring software
Scheduled or event-triggered re-review of customers — not just a one-off check at onboarding.
10 providers verified →
AML transaction monitoring software
Automated monitoring of transaction patterns. This is different from ongoing customer monitoring — select it only if automated transaction-level monitoring is something you specifically need.
4 providers verified →
SMR workflow software
Suspicious matter report workflow: internal escalation of unusual activity through to a filing decision. This is not the same as direct AUSTRAC submission.
7 providers verified →
AUSTRAC SMR XML software
Produces the AUSTRAC XML submission format. Few providers document this — most describe PDF output for manual entry into AUSTRAC Online.
1 provider verified →
Tipping-off control software
System-enforced access restrictions so staff cannot tip off a customer that a report has been made.
4 providers verified →
Threshold transaction reporting software
A threshold transaction register with the logic for identifying reportable transactions.
5 providers verified →
AML evidence pack software
Packages records and evidence for review — for example handing a bundle to an auditor or evaluator. Evidence-pack capability means the software can package records for review, not merely store uploaded documents.
7 providers verified →
Immutable audit trail software
An append-only record of changes that cannot be silently edited.
3 providers verified →
AML software with API
A documented public API so the product can be integrated with systems you already run. A named integration is stronger evidence than a generic “API available” claim.
2 providers verified →
AML software with Australian data residency
Where customer data is held. For firms that must keep customer data in Australia, providers recorded as holding data in Australia are the only fully aligned options; mixed or overseas residency needs a closer look.
3 providers verified →