SILO is a purpose-built AML compliance system, developed in response to the growing complexity of regulatory obligations. SILO is built from the ground-up to be flexible and configurable for an organizations unique needs. So, its important to configure your SILO instance in alignment with your internal policies, risk appetite, and reporting requirements.
Deployed on the Cloud
SILO now only offers cloud-based deployment, hosted on Microsoft Azure.
Automatic updates (security patches, features)
No infrastructure required
Better disaster recovery (paired regional backups)
Latency optimization (choose fastest Azure zone for your region)
On-prem installations are still supported for legacy clients, but not sold to new users.
SaaS and Security
SILO is a SaaS (Software as a Service) platform.
Data is encrypted in transit and at rest
Hosted in designated regions to meet data residency regulations (e.g., GDPR)
Supports documentation for vendor risk management
Commonly used SaaS examples: Microsoft 365, Google Drive, DocuSign.
Configuration Process Overview
Step 1: Discovery
Before configuration, SILO Support will request:
Your latest AML Manual
Sample onboarding forms, risk matrix, review checklists
Examples of client data (anonymized)
Past regulatory reporting templates
Understanding of your industry sector, regulators, client types, and approval hierarchy
Step 2: Context Analysis
SILO config specialists will analyze:
Local AML legislation and guidance notes
FATF mutual evaluations, BO/FATCA/CRS obligations
Regulatory questionnaires (e.g., how many clients exited due to inadequate CDD?)
Supervisory enforcement trends
Step 3: Deployment & Configuration
A blank instance of SILO is provisioned:
System fields are initialized
Configuration of dropdowns, scoring logic, and access controls is completed based on discovery
Risk Scoring Configuration
SILO uses segmented and capped scoring across seven fields:
Risk Factor | Multi-Select | Risk Score Supported |
Jurisdictions | ✅ | ✅ |
Industries | ✅ | ✅ |
Services | ✅ | ✅ |
Notable Risks | ✅ | ✅ |
PEP Type (Individuals) | ❌ | ✅ |
Delivery Channels | ✅ | ✅ |
Client Type | ❌ | ✅ (if enabled) |
Only the highest score in each category is used. This avoids cumulative inflation from low-risk values.
Jurisdiction risk is pulled from:
Jurisdiction of Formation
Nationality
Addresses
Place of Birth
Other Relevant Countries
Configurable Fields in SILO
SILO's power lies in its highly configurable fields:
Field Category | Examples |
Entity Types | Company, Trust, Partnership |
Roles | Director, Shareholder, Beneficial Owner |
Notable Risks | Source of Wealth unknown, Crypto involvement |
Declined Exit Reasons | CDD not obtained, High risk jurisdiction |
Services | Trust Formation, Corporate Admin |
Delivery Channels | Intermediary, Online |
Client Types | Retail, HNW, Institutional |
Document Types | ID, Utility Bill, Certificate of Incorporation |
Each list supports:
Activation/deactivation
Reordering
Risk scores (if applicable)
Reporting-Driven Design
The configuration should support your audit and inspection requirements.
Ensure dropdown wording matches regulatory questionnaires
Group notable risks to reflect CDD categories
Use structured dropdowns to simplify reporting
Example: Configure introducers/referrers to track reputation risk across clients.
New Features and Optimizations
Grouped Notable Risks: Cleaner CDD review process
Stock Exchange Lookup: Enables simplified due diligence when listed on approved exchanges
SmartShift Tool: Supports data migration from unstructured documents
Support Access Approval: Required for back-end inspection support
Governance and Best Practices
Senior Compliance sign-off required for any config changes
Annual configuration reviews recommended
Avoid unauthorized access to Admin settings (now locked)
Training Tips
Train new staff on SILO usage promptly
Use the built-in Training Module
Schedule 3-month and 6-month reviews post-onboarding
Summary Checklist
Task | Status |
Submit AML Manual and forms for review | ☐ |
Review dropdowns for accuracy and completeness | ☐ |
Confirm risk scores match internal risk appetite | ☐ |
Enable training modules for new users | ☐ |
Schedule annual configuration review | ☐ |
Align reporting configuration with regulator questionnaires | ☐ |