There are 3 steps involved in the process of transaction monitoring:

• Input or data ingestion - To start with, you need to input all data into Velocity's transaction and behavior monitoring software. It includes customer and KYC data, transaction data, and SWIFT messages.
  
  

• Process - The data then goes through an investigation process, where the suspicious activity is detected using advanced technology.
  
  

• Output - The software after detecting the suspicious activity, documents the finding and prepares the report that is sent to the regulatory authority.