CleverChain

CleverChain is a Customer Risk Assessment platform that simplifies AML and compliance processes for both individual and business entities.

Description

CleverChain is a Customer Risk Assessment platform that simplifies AML and compliance processes for both individual and business entities. With seamless automation, it ensures accurate identification of high-risk profiles in near real-time. The platform provides match likelihood for found entities and highlights associated risks, offering a comprehensive solution for streamlined AML compliance.

Tech stack

React
Node js
Cassandra
Mongo
AWS EC2
AWS VPC
AWS Internet & Nat Gateways
AWS WAF

Our role

The Vodworks team delivered comprehensive end-to-end development services, encompassing the entire project lifecycle. This included project UI/UX design, development, testing, and deployment phases, showcasing a commitment to excellence at every stage of the development process.

Challenge

The pivotal challenge within the application development revolved around the process of gathering information from diverse tech sources, consolidating this multifaceted data, and ultimately conducting a meticulous final risk profiling.

Development Lifecycle

Conceptualization: This phase involves the creation of the product's requirements, validated against the initial problem it aimed to solve. Additionally, small Proof of Concepts (POCs) were created to validate the technological design.
Design: At this phase, Vodworks team has created the app's architecture and UI/UX design, ensuring a foundation for development.
Development: Following agile methodology, the development phase comes to life, with each sprint contributing to the realisation of the envisioned solution.

Features

The product is a bit unique as it has the following features. Third one is especially difficult to find in other products around.

AML Compliance: Anti-Money Laundering feature
Screening & Risk Profiling: Screen entities (Individual & Business) to do risk profiling with a complete report
Profile Monitoring: Monitoring captured profiles and generating alerts based on risk status change
UBO Calculations for Shareholders: UBO (Ultimate Beneficial Owner) calculation and screening of each entity based upon their shares within the company.
Reporting