Anti-Money Laundering Solutions

By: Liubomyr Maievskyi, Solution Engineer
18 May. 2023
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While AML requirements are getting tougher and compliance costs are rising, fraudulent schemes are becoming more inventive. In these circumstances, organizations urgently need effective and scalable solutions. Financial crime compliance products help financial institutions achieve AML compliance. Anti-Money Laundering software verifies new clients and identifies suspicious transactions to prevent financial crimes, such as terrorist financing and corruption.

According to estimates from Statista, the global AML software industry’s revenue is expected to reach around 1.77 billion USD in 2023. On the market today, plenty of solutions cover customer screening, transaction monitoring, risk assessment, and other areas across the entire customer lifecycle. The latest products combine AI, machine learning, and advanced analytics to effectively support enterprise-wide fraud management programs. In this article, we offer you the top Anti-Money Laundering solutions worth paying attention to.

What Is Anti-Money Laundering (AML) Software?

Anti-money laundering software is a collective term for solutions used by companies to comply with regulations and fight financial crime. AML products help financial institutions and other regulated entities detect suspicious activity effectively, quickly, and more accurately. The compliance tools cover the entire spectrum of anti-money laundering procedures, including identity verification, customer due diligence, risk assessment, PEP and watchlist screening, monitoring of financial transactions, and others.

Benefits of AML Software

Today, Anti-Money Laundering (AML) products are critical to comply with increasingly complex regulations. The compliance management process involves working with a huge amount of data. However, manual and traditional approaches can no longer cope with this task efficiently. To stay compliant and protect your business from money launderers, you need to implement an AML solution that allows process large amounts of information quickly, accurately, and efficiently.

Of course, that is not the only benefit of AML software. It provides other advantages financial professionals will appreciate.

  • Minimization of risks. Anti-money laundering and compliance solutions ensure quick and accurate risk assessment. They check against global sanctions lists and PEP to easily identify money launderers. With AML software, risk managers can make decisions with confidence.
  • Effective customer monitoring process. Transaction tracking software is a useful solution that helps detect suspicious activity at the early stages and prevent financial crimes. Automated monitoring strengthens the compliance process, saves time, and reduces false positives.
  • Spending cuts. Anti-Money Laundering tools help minimize financial losses by efficient monitoring of customers’ activity, fraud prevention, and avoiding the sanctions of non-compliance. Such effective compliance management keeps costs down and makes it possible to scale a business.
  • Brand reputation protection. AML compliance is essential to maintain a positive reputation and not lose the trust of customers. The fined company suffers from reputational fallout as it acquires the status of an unreliable financial institution. Advanced analytics software effectively detects money laundering, helps avoid hefty fines, and, as a result, mitigates reputation risks.
  • Customer experience improvement. Traditional approaches to the onboarding process are time-consuming for clients. AML solutions automate procedures, speed up the onboarding and enable the creation of new accounts faster. By providing excellent customer service, organizations build trusting relationships with their clients.

Top 10 AML Compliance Software

Dow Jones Risk & Compliance

Dow Jones is an American media company that owns several large international media. But it is also famous for its leading product for Anti-Money Laundering professionals. Dow Jones Risk & Compliance combines four solutions: Financial Crime Compliance, Sanctions Compliance, Third-Party Risk Management, and Trade Compliance. With Dow Jones software, users get a full compliance suite, including an online due diligence tool, sanctions screening, ongoing monitoring, real-time payments screening, verification of business partners, and others.

The solution provides 24/7 live support but doesn’t offer a free trial. There is no current pricing on an official site, so users need to contact a Dow Jones Risk & Compliance team member. Among the shortcomings can be noted false positives, missing information, and time-consuming report generation.


Feedzai is a market leader in the supply of fraud and financial crime solutions. The company provides software for retail banks, fintechs, corporate banks, PSPs, and acquirers worldwide. Its products are powered by AI, machine learning, SaaS, and big data analytics. They support all features necessary to reduce fraud and comply with AML requirements, including account opening, KYC and CDD, transaction fraud screening, customer and payment screening.

Feedzai is widely known for the world’s first RiskOps platform. It represents a human-centred and unified approach to anti-money laundering and fraud prevention. Feedzai’s solution for advanced risk management uncovers hidden criminal activity more accurately than competitors and ensures confident decision-making. But the powerful platform may seem complicated for some financial professionals. Nevertheless, users can contact Feedzai’s expert for more details or request a demo on the website.


An all-in-one AML toolkit from iComply company is designed to help businesses automate compliance. It combines different tools for the onboarding process, data analysis, and risk management throughout the customer lifecycle. For AML screening, users can check the data against over 100 million sources, including adverse media, sanctions, politically exposed persons (PEPs) lists, and watchlists. The cloud-based platform is customizable and can run on both web and mobile applications.

The solution’s benefits include fitness and probity checks, easy integration, and user-friendly onboarding. However, iComplyKYC has a complex pricing model. A pricing calculator on the official website allows users to estimate monthly KYC needs. The pricing is based on the type of clients and their quantity and platform license.


The SumSub company develops software for the fintech, crypto, trading, transportation, and gaming industries. It provides AI-based products for user and business verification, transaction monitoring, and case management. With SumSub, users receive a single platform to meet AML compliance challenges. The solution ensures rapid KYC verification (less than 50 seconds), including automated ID verification, advanced biometrics, address checks, and document-free verification. The platform supports 6500 document types from 220+ countries and territories.

Additionally, SumSub offers legal advice to its clients, three price plans for different business needs, and a free trial to explore all features. But users must pay extra costs, minimal monthly commitment, or pre-payment depending on the selected tariff.

Token of Trust

The global platform Token of Trust specializes in software development for identity verification and regulatory compliance with legal requirements. It offers a comprehensive set of tools, including document and IR record checks, facial and phone verification, sanction and watchlist screening, and social media integrations. In addition to financial services, the consumer identity platform is also suitable for real estate, healthcare, retail, and other industries. Token of Trust ensures 256-bit SSL encryption for data storage and supports passport or national ID verification in 100+ countries.

The platform is customizable. Company experts help users configure processes before adding them to the verification flow. However, the integration may take a long time, depending on the specificity of user needs. The website has no pricing information, but Token of Trust offers a free verification audit.


ComplyCube provides flexible and holistic products for customer screening, identity assurance, due diligence, and AML&KYC compliance requirements. The powerful platform performs quick identity verification in under 30 seconds, which ensures fast onboarding. It uses adaptive AI for advanced biometric checks and passive liveness detection, which makes ComplyCub stand out among other mainstream solutions. The platform is customizable and supports multiple languages.

Key features of ComplyCube include global coverage (200+ countries and territories), cooperation with businesses of any size, and easy integration. The company offers a 14-day free trial with 50 checks. There are three starter plans from $0.10 per credit to $449 monthly and a special tariff for large enterprises.

Refinitiv World-Check Risk Intelligence

One of the largest financial technology providers, Refinitiv has an impressive set of products and services. It offers risk screening, account and identity verification, due diligence, and onboarding solutions. The World-Check Risk Intelligence database from Refinitiv is a complete AML solution covering all compliance management points. Its broad coverage includes not only PEP, adverse media, and global sanctions lists but also vessel information, marijuana-related business, and Iran’s economic interest.

A global team of researchers and analysts works only with reliable and reputable sources, maintaining strict quality control. Refinitiv users benefit from accurate information, advanced search, and targeted screening. World-Check Risk Intelligence is a well-designed product with all the necessary tools that are easy to integrate. Pricing is unavailable on the website. Users need to contact the sales team to get details.


Ondato is a London-based tech company with a strong market presence in 190+ countries. It provides advanced KYC and AML solutions across all compliance challenges. KYC customer lifecycle system enables businesses to receive a 360-degree overview of new clients. It offers AI-based recognition tools that increase the accuracy of biometrics checks by up to 95% and verification accuracy – by up to 99,8%. Ondato also has a set of tools for perpetual KYC with multiple types of screening, including sanctions, PEP, business registry, proof of address, etc.

Ondato Saas-based solutions make processes easier, faster, and cheaper (cost reduction of up to 90%, according to the company). By using them, clients are always updated with regulatory changes. One more benefit is the white label option, which enables users to deploy the Ondato seamlessly as their own portal for an onboarding process. Three pricing plans are presented on the website. There is also a form to request a free demo.


This is a comprehensive customer intelligence platform developed for fraud managers. It enables companies to stop fraud before it happens and combat financial crime. With SEON, new clients get a smooth onboarding, while risk managers receive a complete picture of their social and digital footprint. To identify real users and not reject them accidentally, the checking includes phone, email, IP and social media analysis. Machine learning algorithms and AI-based risk scoring easily adapt to businesses no matter how they deal with risk. The fraud prevention module can run independently or be integrated into an existing system.

SEON’s AML API allows companies to streamline checks, avoid fines, and perform uninterrupted compliant operations. It has global coverage, and the list of data sources is continuously growing. Users can run manual or automated monitoring, which reports the client’s status change. SEON Pro plan starts from €299, and a free trial is available for 14 days.

Oracle Financial Crime And Compliance Management

American corporation Oracle has 25-year experience in fighting financial crime. Its cloud service consists of applications for KYC, customer screening, transaction monitoring, and regulatory reporting. Oracle solutions ensure streamlined customer onboarding, effective suspicious activity monitoring, accurate investigations, end-to-end screening, and prebuilt regulatory analytics. They combine AI, machine learning, NLP, graph analytics and other next-generation technologies to identify financial crime patterns and other anomalies.

Oracle’s Financial Crime and Compliance Management suite can be easily integrated with other third-party apps. The solution provides a 360-degree view of individuals and legal entities supported by real-time scoring. It fast adapts to changes in rules and regulations. Oracle website has no pricing plans. But users can request a demo call with a sales team to get more information about the product.

Final Words

After reading this article, you probably have a question – how to choose the best anti-money laundering software. The choice of the optimal solution always depends on several factors, such as company size, the number of new clients per month, product integration, etc. Users should pay close attention to the list of compliance tools and check them against company needs. The demo call is a great opportunity to get acquainted with a product and raise questions directly to sales specialists. Carefully choose your AML compliance solution and fight financial crime efficiently.

By: Liubomyr Maievskyi, Solution Engineer
18 May. 2023
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