The "SACCOs" or Savings and Credit Unions have become financial entities that in addition to their penetration in non-banked markets, characteristic they already had, have achieved considerable sophistication levels; their products are not different from those offered by the traditional banking sector: accounts, debit and credit cards, interbank transfers, are part of their product catalogue. The electronic branch and the mobile app are channels that are already part of the SACCOs. Therefore, their risk level must be surveyed to avoid legal, economic, and reputational losses.
Sentinel has adapted to the needs of this sector, and through sensitized processes, to the cooperative sector, enabling projects in the fields of money laundering, terrorism financing, and fraud prevention. The simple management of the system, along with business models and very appealing costs, allow the cooperatives to manage these processes themselves, achieving better results than when monitoring is outsourced.
Models based on rules that generate early alerts of the transactions performed in the credit unions, behavior profiles of the associates, internal fraud management, risk matrices, and analysis of restrictive lists are the ideal complement for the management of cooperatives.