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Transaction Monitoring and Reporting
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Transaction Monitoring and Reporting

The Virtual Account Service (VAS) includes built-in monitoring and reporting capabilities to ensure regulatory compliance, provide transparency, and give Corporate Clients visibility into fund movements.

Monitoring is focused on AML/compliance checks, fund flow oversight, and balance tracking, while reporting offers detailed account- and transaction-level insights.

Transaction Monitoring

1. Verification of Transfers

  • All inbound and outbound transfers are assessed against AML and compliance requirements.
  • Ensures funds originate from legitimate, whitelisted sources and are directed to approved customer accounts.
  • Transfers from unknown or non-whitelisted accounts may be rejected or held for investigation.

2. Monitoring Fund Flows

  • Continuous oversight of transfers between Sub Accounts and Parent Accounts.
  • Enforced routing rules (Sub → Parent → Settlement, Settlement → Parent → Sub) ensure compliance and proper reconciliation.
  • Controls are applied at each stage of the transaction to prevent unauthorized movements.

3. Balance and Fund Movement Oversight

  • Sub Account balances are continuously monitored.
  • All inflows and outflows are logged with timestamped events.
  • Monitoring is supported by core banking system enquiries and automated reporting, ensuring full traceability of balances and movements.

Reporting

VAS provides a suite of reports and enquiries to support operational and compliance requirements.

Consolidated Customer Report

  • Provides a full view of a Customer’s accounts within VAS:
    • Settlement Account
    • Parent Accounts (per currency)
    • Sub Accounts (per Customer)
    • Whitelisted IBANs
  • Useful for reconciliation and compliance audits.

Account Transaction Details Report

  • Detailed breakdown of all transactions for a specific account.
  • Includes:
    • Value date
    • Narrative / transaction description
    • Account details
    • Transaction amount and currency

Customer Relationship Report

  • High-level report showing:
    • Customer’s account numbers
    • Account names
    • Currency
    • Current balances
  • Useful for relationship managers and corporate oversight.

Sub Account Deposit Details Report

  • Shows deposit information at the Sub Account level, including source details for legitimacy verification.
  • Fields include:
    • Account number
    • Transaction type
    • FT (fund transfer) reference
    • Credit account number
    • Transaction amount
    • Value date
    • Status (e.g., pending, posted, rejected)
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