Monitoreo de Bancos Corresponsales

Correspondent banks are authorised to provide services on behalf of other banks. They are especially important to frontier and emerging markets because they allow domestic banks to access international markets, but anti-money laundering and combatting the financing of terrorism (AML/CFT) policies alone are not enough to protect the stability of the world's markets and the integrity of correspondent banking services. 

That's why cash correspondent monitoring (CCM) is essential for all stakeholders in the financial ecosystem. It helps to prevent illicit activities and ensure compliance with regulatory standards. It provides valuable oversight and risk management capabilities that are critical for maintaining the security of the global financial system. The need for robust CCM is also driven by a combination of regulatory, risk and operational issues.

Thomas Murray, in partnership with 25+ banks globally, has created a standardised approach to CCM.

Our managed service solution is driven by an industry-agreed questionnaire, which is responded to by agent banks and validated against agreed KPIs in due diligence visits. The results are benchmarked by market, region, and currency to give banks global, regional, and local insight into their agent bank networks, and how their providers compare to local competitors.

Traditional AML or counter-terrorism financing (CTF) tools often focus on individual transactions or customer profiles. In contrast, correspondent monitoring adopts a holistic approach by considering the entire banking relationship between institutions. This allows for a more comprehensive understanding of the potential risks and vulnerabilities associated with each correspondent bank.