RegTech Supply Chain — Monitoring Tools

Welcome back to the RegTech Supply Chain Series! This series of posts helps make sense of the RegTech industry; the different sectors, what tools are available, and how they help satisfy compliance requirements and challenges. In the first part of the series we looked at onboarding tools, an area that Trulioo is very familiar with.

We have tons of regulations and technologies to consider outside of just the onboarding process. We now move on to Part 2 where we explore monitoring tools. As we introduced in Part 1 of this series, one way to catalogue all of these tools is by business needs, specifically classifying based on timeframes of the use of the RegTech tool.

Let’s review, what are different timeframes across a process lifecycle?

  • Onboarding
    Tools for the first step of signing up a customer. These are often one time or for new cases (ex. ONC, CDD, and KYC).
  • Monitoring
    Tools for analyzing performance on an ongoing basis.
  • Detection
    Tools for flagging potential events, such as risk or fraud. These are occasional in nature but require the utmost of attention.
  • Reporting
    Tools to warehouse, organize and send data to regulators at scheduled intervals.
  • Process Tools and Controls
    Tools and controls that operate over the entire process lifecycle


After the initial onboarding process, compliance is not complete. There’s a necessity for monitoring on an ongoing basis. Monitoring refers to the analysis of continual, ongoing activities to ensure activities remain in compliance.

There are various activities to keep track of, such as exceeding thresholds, suspicious activities, change of status, recording of communications, surveillance of employees, watchlists, market trends, new regulations, trade data and various other market and transaction monitoring needs.

For financial institutions (FIs), even after AML/KYC (Anti-Money Laundering/Know Your Customer) regulations are met when signing up new customers, continued monitoring is critical long after initial sign up. FIs must monitor activity to ensure fraud is not committed, or that money laundering or terrorist financing funds enter their system.

Trulioo supports the monitoring process after initial onboarding, as we focus on providing the capabilities to screen results for global watch lists. We check data that a customer provides against our watch list data sources to see if the information matches. By performing these checks, FIs are then assured that they are in compliance with their regulatory obligations for this stage on the process.

Here are some other tools that are useful in the monitoring stage:

On the next RegTech Supply Chain post we’ll look at detection tools; what are they, how they can help your business and a survey of suppliers.

As you can see from the list, there are many options to choose from, and the key to picking the solution that is right for your product or service is to understand your current business needs and anticipate and prepare for the regulatory challenges on the horizon.

Market Fintech conducted a RegTech Performance Report where they ranked top performing RegTech suppliers from around the world. If you’re interested in Trulioo’s approach to customer monitoring and how we can help you comply with cross-border requirements with speed, agility and scalability, check out our Product Brochures page.

Originally published at on April 5, 2017.

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