Getting started with Pascal Transaction monitoring – Quick start guide

 

Introduction 

Pascal Transaction monitoring enables you to efficiently detect unusual financial activity by leveraging client profiles and customizable alerts. Instead of manually reviewing every transaction, you can define rules that flag deviations from expected behaviour, streamlining the review process and focusing attention on relevant risks defined by you.  

In addition to Alerts resolving, you can user additional supporting features such Notes, and Reports.
You can read more about that here. 

 

Maximum amounts

The Maximum amounts Policy allows you to define default threshold values using different currencies. When a client's transactions exceed these predefined limits, Pascal automatically generates a weekly Objective transaction report which is sent to you via email depending on your account settings. This report highlights all relevant transactions, and the clients involved. 

In addition to the direct clients, the report also highlights related entities such as clients sharing bank accounts details (also known as a joint account) or marked as Linked clients. This gives you a broader view of potentially connected activity and helps you assess risk more effectively. 

To add Maximum amounts the below steps can be followed: 

1. Press on the Organisation name or your initials in the top right corner. 
2. Click on Settings besides the organisation name. 
3. Click on the Transaction monitoring tab in the top bar of the window. 
4. In the Maximum amounts card, press the Add maximum amount button. 
5. In the new side panel, fill in the name of a client type. If this should be the standardly chosen client type, turn on the option Default maximum amount. 
6. In the Currency section, select the currency this amount should be in, to conform to the rule. You can type in this section to filter towards the correct currency. You can add multiple currencies per each client type you create.  
7. In the Amount field, fill in the amount you would like to be set as the threshold. 
8. Click on the Add maximum amount button, if more maximum amounts in other currencies should be included. 
9. Press the Save button when you are done. 
10. To edit your input, click on the pencil icon, and repeat steps 6 until and including 9.  

 

Once configured, an Objective transaction report will be sent to you every Monday at UTC+0. The report covers transactions from the previous week, starting Monday at 00:00 and ending Sunday at 23:59. This means that each Monday’s report reflects all client transaction activity from the week before. It includes all transactions made during that period and highlights any activity that exceeds the defined Maximum amounts thresholds. If you have opted to receive reports even when no relevant activity is found, you will receive an email confirming that no reportable activity occurred. 

To enable the auto-send of the Objective transaction report, follow these steps: 

1. Press on the organisation name or your initials in the top right corner. 
2. Click on Account settings besides the organisation name. 
3. Click on Configuration tab in the top bar of the window. 
4. Head to the Transactions card, click on the dropdown, and select Yes to activate the report delivery. Then, in the other dropdown select Yes if you wish to receive an email notification when no reportable activity occurred. 

 

 

Dormant

To define when your clients Bank accounts should be considered as Dormant: 

1. Press on the organisation name or your initials in the top right corner. 
2. Click on Settings besides the organisation name. 
3. Click on the Transaction monitoring tab in the top bar of the window. 
4. Scroll to the General card and locate the Bank accounts become dormant after option. 
5. Click inside the input field and enter the desired number of days. Use whole numbers only. 
6. The arrows can be used to mark up or down the value entered. 

 

 

Timezone

Transaction monitoring uses UTC+0 as the default reference point for End of day alert rules. However, if you are operating in a different timezone, alerts may be triggered before your actual end of day. To ensure alerts are evaluated at the correct time for your region, select your local timezone in the Policies. This ensures alerts are triggered in line with your operational hours and reduces the chance of premature or inaccurate alerts. 

To select the Timezone follow these steps: 

1. Press on the organisation name or your initials in the top right corner. 
2. Click on Settings besides the organisation name. 
3. Click on the Transaction monitoring tab in the top bar of the window. 
4. Scroll to the General card and locate the Timezone dropdown. Click on it, and in the search type the name of the region/area or the major city associated with it and select it to save. You can also scroll through the list.

 

 

Alerts 

The Alerts section is the core of the entire Transaction monitoring system. Once configured, it determines when alerts are triggered and how they appear in each Client’s profile. You can access the full configuration at any time, providing a clear overview of both Active and Inactive alerts across your organisation.  

To set alerts, Pascal offers the Alert builder - a flexible tool designed to support a wide range of alert types, from simple to complex, depending on your monitoring strategy.

General settings 

This section includes key configuration options:

• Name: Alerts are initially named “Standard Alert,” but this can be changed to suit your needs. 

• Time range: Defines the period the system evaluates when applying rules. Options include Daily, Weekly, Monthly, Quarterly, Yearly, and None. Each Time range compares the current and previous equivalent period, for example, Daily checks today and yesterday, Weekly checks this week and the pervious, and so on. Selecting None disables time-based filtering, allowing alerts to trigger regardless of date. 

• Alert timing: Automatically set and not editable. By default, alerts are set as Immediate. Adding specific rules, such as Account balance and Dormant rules, the Alert timing will switch to End of day. 

• Default assignee: Alerts are Unassigned by default but can be automatically assigned to a specific user or group. 

 

 

Rules and conditions 

This section defines the specific conditions that trigger an alert. 

To create a new alert, you must start by selecting a Base rule. Available base rules include: 

• Transaction value 

• Transaction volume 

• Bank accounts 
   

These rules form the foundation of your alert logic. If you choose Transaction value or Transaction volume as your base, you can attach any additional rules except Bank accounts. If you start with Bank Accounts, some rule options will be disabled (greyed out), and a visual indicator will guide you accordingly.  

This structure ensures that alerts are built on a logical and compatible rule set, maintaining consistency and reliability in your monitoring process. 

 

 

Rule library 

The Rule library contains all available rule types that can be used to build new alerts or add to existing ones. These rules define the specific conditions under which an alert will be triggered, enabling flexible and targeted monitoring. 

Some rules are mandatory and serve as Base rules, while others can be added to refine and enrich the alert logic. Each rule includes its own Condition(s), which may take one of the following forms:  

• A toggle to apply a specific condition. 

• A dropdown with Include or Exclude options, paired with a free-text field. 

• A dropdown with Equals, More than, Less than, or Between, followed by a numeric input field (with up/down arrows to adjust the value). 

Each rule can be added only once per alert. If you wish to create multiple alerts using the same rule, you must configure them individually. To streamline this process, you can use the Duplicate Alert feature (read more here insert link). 

 

Alert timing and Rule breakdown 

The Alert timing and a full list of the rule breakdown can be found here.

 

Alert creation 

The Alert builder is used to create new alerts, update existing ones, or duplicate alerts for reuse. Alerts are considered Active only after they have been Published. All published alerts, both Active and Inactive, can be found in the Alerts table at the bottom of the Transaction monitoring policies page. 

 

Create a new alert  

By default, newly created alerts are marked as Active, but you can manually set them to Inactive if needed. Regardless of status, an alert must be Published to be saved and added to your configuration. 

To publish an alert, the following conditions must be met: 

• At least one Base rule must be added: Transaction Value, Transaction Volume, or Bank Accounts. 

• All required fields must be completed, and there must be no validation errors on the screen. 

Only then will the Publish button become clickable. 

 

Creating a new alert can be done by following these steps: 

1. Click on your organisation name or initials in the top-right corner. 
2. Select Settings next to the organisation name. 
3. Navigate to the Transaction monitoring tab in the top bar. 
4. Scroll down to locate the Alerts section. 
5. Click Create alert to open the Alert Builder. 
   
   Configure the Alert:
   • Click Rename next to the default alert name to give it a meaningful title. Enter the new name in the popup and click Rename to save.
   • Select the appropriate Priority from the dropdown.
   • Choose the desired Time range from the dropdown.
   • Set the Default assignee by selecting a user or group from the dropdown (default is Unassigned).
   • Go to the Rule Library and click Add next to any rule you wish to include.
     
     You must include at least one Base rule. Some rule combinations are not allowed. Visual indicators will guide you when this occurs.
     
     Each added rule appears under the Rules section in its own card, showing its name and editable conditions. Use the Trash icon to remove any rule.
6. Once satisfied with your configuration, click Publish in the top-right corner.
   If required fields are missing, the screen will automatically focus on them and display red validation errors. Correct these and click Publish again. 
7. A green popup will confirm: “Your alert has been successfully saved.” 
8. Click Back to return to the Transaction monitoring Policies view. 

 

 

Resolve an alert 

To resolve your alerts, please refer to the Resolving alerts section found in Main work flow here.

 

Transaction monitoring Risk 

The Risk section is a flexible configuration that allows you to create a custom-made client risk evaluation score within the transaction monitoring system.

 

Risk profile  

The Risk profile card allows you to define key parameters that influence how client risk is calculated. It includes settings for Account creation, Risk indicators, and Screening related risk factors, all of which contribute to the overall client risk score. 

 

Account creation 

Use this setting to define within how many days a client’s account is considered a new account.

To apply these setting, the below steps can help: 

1. Press on the Organisation name or your initials in the top right corner. 
2. Click on Settings besides the organisation name. 
3. Click on the Transaction monitoring tab in the top bar of the window. 
4. Just below it, click on the Risk tab to reveal the Risk profile card and locate the Account creation.  
5. Click inside the input field and enter the desired number of days. Use whole positive numbers only. The arrows can be used to mark up or down the number entered. 
6. Below click on the associated risk dropdown and select the desired risk level match your days selection. 
7. Once applied, click on the Save button located at the top of the card. The Undo button becomes available only when there are unsaved changes, which is also indicated by a visual warning massage on the card.  

 

Risk indicators 

Risk indicators are specific labels used to assess the potential risk associated with a client. They help identify clients who may require closer scrutiny based on predefined criteria, such as Sanctions and PEP, or custom made. 

To add new Risk indicators and edit existing, these steps can help: 

1. Press on the organisation name or your initials in the top right corner. 
2. Click on Settings besides the organisation name. 
3. Click on the Transaction monitoring tab in the top bar of the window. 
4. Just below it, click on the Risk tab to reveal the Risk profile card and locate the Risk indicators section. 
5. Click on Add risk indicator button. 
6. In the new empty field-box that has just appeared, type your new risk indicator name. 
7. Then, on the right side next to it, click on the dropdown button and select the desired risk level to assign to your new risk indicator.  
8. Once added, click on the Save button located at the top of the card. The Undo button becomes available only when there are unsaved changes, which is also indicated by a visual warning massage on the card. The Undo button appears every time there are unsaved changes, such in the case of Update and Remove are made yet not saved. 

 

 

SIC codes 

Standard Industrial Classification (SIC) codes in Pascal, are built from a defined base code, a label of your choice, and an assigned risk level. Both the code and its label are displayed in the client’s profile when the code is recognized and configured. If a SIC code is entered but not set in the configuration, it is considered Unknown and only the code itself will appear, without a label, and it will automatically be associated with a Very low risk level (this default cannot be changed). When multiple SIC codes are present, the client’s overall risk level is determined by the highest risk level among all known codes. 
 

To help you with the implementation, Pascal was designed to support special operators that make pattern matching more intuitive and powerful. These operators are the percent sign % and the underscore sign _, each serving a distinct purpose. 

 

 

To add SIC codes, follow these instructions: 

1. Press on the Organisation name or your initials in the top right corner. 
2. Click on Settings besides the organisation name. 
3. Click on the Transaction monitoring tab in the top bar of the window. 
4. Just below it, click on the Risk tab. 
5. Scroll the page down, until you see the SIC codes card. 
6. Click on Add code. In the newly appearing blue card component appearing above, type in the Code, the label and select from the dropdown the risk level. 
7. To finish and save click on the Add button. 

Once a SIC code is added, it cannot be edited. To make changes, you must delete the existing entry using the Trash icon and re-add it with the desired configuration. 

It’s important to note that no matter how many SIC codes a client has, the highest risk score among them will determine the SIC codes risk input shown in the client’s profile.  

To remove a SIC code, read more by following this link.

 

Tax haven risk 

To define the Tax haven risk, follow these steps: 

1. Press on the Organisation name or your initials in the top right corner. 
2. Click on Settings besides the organisation name. 
3. Click on the Transaction monitoring tab in the top bar of the window. 
4. Just below it, click on the Risk tab and scroll downward to the Country Risk Classification section. 
5. On the right hand side, click on the Edit button. 
6. In the new open page, a table with a country list and Risk. Locate the Search countries field box on the top part and type inside it your requested country.  
   
   Alternatively, page through the countries list by clicking on the page numbers at the bottom of the table, and use the right and left arrows to locate the requested country. 
7. Once the requested country is found and shown, assign the relevant Risk level by clicking on the risk dropdown button.  
8. To finish, click on the Save button on the top right side.  
9. To edit your selection or add risk level to additional countries, follow these steps from the start. 

 

 

Risk scores 

Pascal allows you to define your own Risk score system by assigning values to evaluate client risk levels. These levels include: 

• Very low 
• Low 
• Moderate 
• High 
• Very high 

The Risk score system is built from two components: Risk classification and Breakpoints. 

Risk classification 

Risk classification involves assigning a numeric value to each risk level. These values: 

• Must start at 0 and increase consecutively. 

• Cannot be repeated or negative. 

Each risk entity in a client's profile contributes its assigned value to the overall score. This cumulative score is then used to determine the client's final risk level. 

 

Breakpoints 

Breakpoints define the score ranges that correspond to each risk level. Using the same five levels, Very low to Very high, you assign a minimum score for each category: 

• The first breakpoint must start at 0. 

• Each subsequent level must have a higher minimum score than the previous one. 

This setup allows Pascal to automatically calculate a client’s risk level based on the sum of all individual risk scores. 

 

Setting Up Risk Values and Breakpoints 

To configure your risk scoring system: 

1. Navigate to Transaction monitoring Settings. 
2. Within the Risk card, click the Edit button. 
3. In the Risk Classification section, assign numeric values to each risk level. 
4. In the Breakpoints section, define the score thresholds that determine each risk level based on the total score from answered risk questions. 

This configuration gives you full control over how risk is evaluated and ensures that client onboarding aligns with your organisation’s risk policies. 

 

Clients and Bank accounts bulk imports 

While Main workflow Pascal Transaction monitoring helps cover the basic of creating Clients and Bank account individually, this section focusses specifically on how to add multiple Clients and Bank Accounts in bulk using Importing. 

 

Import bank accounts 

To ensure a smooth bulk import process, it is highly recommended to start by importing bank accounts first. 

To successfully import bank accounts in a fast and efficient way, you must use a CSV or Excel template, which can be downloaded at any time from the Importing tab within the Organisation Settings section. 

To import bank accounts, follow these instructions: 

1. Press on the Organisation name or your initials in the top right corner. 
2. Click on Settings besides the organisation name. 
3. Confirm the Organisation tab is marked, at below click on Importing, and locate the Import bank account card below it. 
4. An example of the client import file can be downloaded by pressing the CSV or Excel options.  
5. Within the Excel bank account’s import template file, the columns account_type, account_name, account_number, swift_code, currency, bank_name, clients_1, and clients_2 are present. 
6. Use the example data provided inside the template file to correctly populate each field. Once completed save the file. 
7. With the imported file filled in and ready, the file can be imported via Drag and drop or by the using the click to upload button.  
8. After the preview of the file is reviewed and it is ensured the validation states valid, the button Import can be clicked to import all bank accounts. 
9. After importing the bank accounts, Pascal will Pascal automatically checks for matches with existing known bank accounts and known clients in the system using the Bank account number. 
   1. If no match is found: the imported bank account is added as new to both new clients and existing clients. 
   2. If a partial match is found (only Bank account number match, but other fields differ): Pascal copies the existing known bank account details from the old client to the new client, ignoring the imported data. 
   3. If a full match is found: the bank account is added to the new client using the existing data from the system. 
      
      Invalid Bank accounts rows will not be imported. 

 

Import clients 

Importing clients in bulk is a fast and efficient way to add multiple client profiles to Pascal at once. To successfully import clients, you must use a CSV or Excel template file, which can be downloaded anytime from the Importing tab within the Organisation Settings screen. 

These templates contain multiple fields required to create client profiles. Ensuring that all fields are properly populated will result in well-structured profiles, which significantly enhances the efficiency of transaction monitoring. 
 

To import clients, the following steps can be used: 

1. Press on the organisation name or your initials in the top right corner. 
2. Click on Settings besides the organisation name. 
3. Confirm the Organisation tab is marked, at below click on Importing. 
4. Scroll down to reach the Import clients card. 
5. An example of the client import file can be downloaded by pressing the CSV or Excel options.  
6. Within the Excel client’s import template file the columns titled type, name, address, phone_number, email, profession, gender, incorporation_date, company_number, country, nationalities_1, nationalities_2, date_of_birth, standard_industry_classifications_1, standard_industry_classifications_2, account_creation_date, risk_indicators_1, risk_indicators_2, estimated_incoming_amount, estimated_incoming_currency, estimated_outgoing_amount, estimated_outgoing_currency, international_transfers, assignee, collaborators_1, collaborators_2, user_risk_score, and description are present. 
    
   Use the example data provided inside the template file to correctly populate each field. Once completed save the file. 
7. With the imported file filled in and ready, the file can be imported via Drag and drop or by the using the click to upload button.  
8. After the preview of the file is reviewed and it is ensured the validation states valid, the button Import can be clicked to import all clients. 
9. After importing the clients, Pascal will create all the clients in the system. Clients that did not have a known bank account present in the system will not be visible in Transaction monitoring until their associated bank accounts are created. 
   
   To ensure complete visibility and a smooth workflow, it is highly recommended to import bank accounts first and then use the import clients.