Understanding AML/KYC: a light primer for engineers

1

Verafin

Maintain detailed records of transactions and report suspicious activities to authorities. Effective reporting leverages purpose-built providers like Actimize or NASDAQ’s Verafin, more general logging tools like Splunk or Loggly, or proprietary systems built on technologies like ELK stacks (Elasticsearch, Logstash, and Kibana) or SQL and NoSQL databases with standard visualization tools like Tableau, to facilitate the identification of unusual patterns and ensure compliance with legal requirements, thereby playing a crucial role in the overall AML/KYC framework.

#Personal Finance #Other Fin Tech #Mobile Banking 1 social mentions

2

swagger.io

APIs are often the key to enabling interoperability between AML/KYC solutions and other systems. Design APIs following RESTful principles—using libraries like ExpressJs (JavaScript), Flask (Python), or Actix Web (Rust)—ensuring they are stateless and support the JSON/XML formats expected by most systems. Use Swagger to generate detailed documentation for RESTful APIs to facilitate integration and ensure your APIs are easily consumable by other systems. If you’re building GraphQL APIs, using tools like Apollo Server, Prisma, or Graphene will allow for self-documenting APIs (through GraphQL introspection).

#API Tools #APIs #Documentation 95 social mentions

3

PyTorch

Machine learning techniques empower automated systems to detect and learn patterns and anomalies across enormous datasets, optimizing the accuracy of fraud detection. Libraries like TensorFlow or PyTorch are extensively used to build predictive models that can identify suspicious transaction patterns, enhancing the effectiveness of your AML/KYC processes. You can find publicly available models on sites like Hugging Face Model Hub and Kaggle.

#Data Science And Machine Learning #AI #Data Science Tools 132 social mentions

4

ExpressJS

APIs are often the key to enabling interoperability between AML/KYC solutions and other systems. Design APIs following RESTful principles—using libraries like ExpressJs (JavaScript), Flask (Python), or Actix Web (Rust)—ensuring they are stateless and support the JSON/XML formats expected by most systems. Use Swagger to generate detailed documentation for RESTful APIs to facilitate integration and ensure your APIs are easily consumable by other systems. If you’re building GraphQL APIs, using tools like Apollo Server, Prisma, or Graphene will allow for self-documenting APIs (through GraphQL introspection).

#JavaScript Framework #Node.js Framework #Web Frameworks 466 social mentions

5

Apache Camel

Seamless integration of AML and KYC solutions with existing systems is critical for effective automation. Use middleware platforms like MuleSoft (commercial) or Apache Camel (open source) to facilitate data exchange or deeper integrations between many disparate systems. Integration testing to ensure faithful and ongoing interoperability between both proprietary and 3rd-party systems should be rigorous and will ensure that a misconfiguration, a poorly architected subsystem, or a bit of rogue code doesn’t threaten your compliance and expose you or your customer to risk.

#Data Integration #ETL #Open Source 13 social mentions

6

Actix

APIs are often the key to enabling interoperability between AML/KYC solutions and other systems. Design APIs following RESTful principles—using libraries like ExpressJs (JavaScript), Flask (Python), or Actix Web (Rust)—ensuring they are stateless and support the JSON/XML formats expected by most systems. Use Swagger to generate detailed documentation for RESTful APIs to facilitate integration and ensure your APIs are easily consumable by other systems. If you’re building GraphQL APIs, using tools like Apollo Server, Prisma, or Graphene will allow for self-documenting APIs (through GraphQL introspection).

#Developer Tools #Javascript UI Libraries #Web Frameworks 82 social mentions