Location intelligence based platform solution using spectrum-PB KYC
Student name: Mr Shahrukh Wasay
Guide: Dr Bakim Chandra Oinam
Year of completion: 2012
Host Organisation: Pitney Bowes Software, Noida (U.P)
Supervisor (Host Organisation): Mr Ashutosh Sharma
Abstract: This study focus upon using Pitney Bowes’s Spectrum 7.0 as a platform using location intelligence as a
backbone to build an enterprise solution to deal with financial institution , banks and investment companies
tribulations being highlighted such as Know Your Customer(KYC) and Anti money laundering (AML) .
Today’s major threat for outpouring investors , baking companies and financial institutions is , whether funds
coming through right tunnel (pathway )and for customers where to deposit cash and that’s what banks are there
for .But what about the banks? , Does bank knows whether the funds are impending from the right channel or
whether the source is reliable? So the major question is there any solution available through which bank can
check whether the amount being deposited by the customer is coming from the correct channel, source Or the
customer who is opening new account with the bank or existing, he doesn’t have any connection with terrorist
or any other relationship with unlawful, unethical activities which are against the government low policies and
consider unlawful trade activities. So the solution is a system which would check upon all the required
validation that is needed by the bank so that real-time track down to be on the safer side and safe guarding their
interested, so that they can keep a track. Banks tries to know their customers by monitoring for anti-money
laundering (AML) and checks relating to combating the financing of terrorism (CFT), with increasingly cases
coming up for AML, there is a need to use specialized software for analyzing risk and the potential risk score
calculating algorithm base application/ software which can be deployed on the top of any database prior to
bring their data on one platform, standardized with no data residency. In which these software/ web
application systems will identify potentially suspicious or risky source/channel/customer accounts. The systems
create "alerts" which are then subject to manual due diligence investigative processes.
For that the answer is Pitney Bowes software AML KYC developed on the spectrum server. Web based system
which perform multiple check and validation for the banks (clients) to track and check upon their customers.
Keywords: Anti-money Laundering (AML), Know your Customer, Location Intelligence,
Web-GIS, Banking solution.
