Create Custom Alert

Case alerts in the konaAI platform can be created in different ways, providing users with flexibility and adaptability to their specific needs and preferences.

Alert Creation Approaches 

konaAI application lets you create alerts both manually as well as automate the workflow.  

Manual Creation:

• Subjective Review – Case alerts can also be generated as you explore dashboards and different overview visualizations in the konaAI system. 
  • This approach involves subjective or professional judgment review.
  • Use your expertise and experience to identify transactions that require additional attention.
• Objective Review: Manual Creation – You have the option to manually create alerts based on the top riskiest entities or transactions.  
  • This can be done within the “Entity View” or the “Transactions View” sections of the platform.  
  • Manually select specific entities or transactions that warrant further scrutiny and trigger the creation of case alerts.  
  • This approach is useful when you want more control and direct involvement in identifying high-risk items.  

Workflow Automation: 

• Objective Review – You can define automated workflows to select the top 10, 20, 50, or 100 riskiest transactions each week, month, or quarter. 
  • These workflows are based on predefined criteria and behavioral algorithms that continuously analyze financial accounting payments, sales, and other supporting data sources.  

A case alert is automatically generated for each transaction meeting when anomalies or patterning indicate fraudulent activity or misconduct are detected.

• This approach streamlines the process of identifying high-risk transactions for further investigation, ensuring timely attention to potential risks. 

The “Get Data” feature can be utilized in various platform tools, such as the “Duplicates” screen, “Text Analytics” screen, or by applying filters to a combination of tests in the “Scenario Manager.”  

The multiple ways to create alerts in konaAI enable organizations to tailor their risk detection processes to their unique requirements and business contexts. Whether through subjective review, objective review, or workflow automation, the platform empowers you to efficiently identify potential risks and take proactive measures to safeguard against fraudulent activities and ensure compliance with regulatory expectations. 

Methods of Alert Creation 

Alerts can be created either at the Entity or Transaction Level. In each case, one or more transactions should be selected before the action of creating the alert. 

Entity-Level Alert: An entity-level alert focuses on the overall behavior and patterns associated with a specific entity, such as a vendor, employee, or customer. 

• Examines the aggregated data and activities related to that entity over time.  
• Identifies unusual or suspicious patterns or behaviors exhibited by the entity. 
• Allows alert analysis into the entity’s overall risk profile and helps detect potential fraud, compliance violations, or other anomalies that may require further investigation. 

Transaction-Level Alert: A transaction-level alert, on the other hand, zooms in on individual transactions within the konaAI platform.  

• Examines the specific details and attributes of each transaction to identify any irregularities or potential risks associated with that transaction. 
• Analyzes data points such as payment amounts, invoice details, timing, and other relevant transactional information.  
• Provides targeted insights into specific transactions that may require additional scrutiny or investigation due to suspicious or non-compliant behavior.  
• Lets you evaluate transactions for either the same entity or for different entities with similar transaction characteristics. 

Individual Transaction Alert Creation 

• To create an individual alert, select a single transaction.
• Create an alert by clicking on the top action button and selecting the “Create Alert” option.
• Choose “Transaction Level” or “Entity Level” as desired. 
• After creating the alert, you can choose to view the list of alerts or continue working in your current window. 

While the intention to evaluate the selected transaction is recorded, the creation of an alert based on selecting an individual transaction generates the same information whether it is at the entity or transaction level.

The template selection option is now displayed, and the dropdown only shows active templates. 

After creating the alert, you can choose to view the list of alerts or continue working in your current window. 

Collective Alert Creation  

 When “collectively” selecting multiple transactions in the konaAI platform, the process of creating alerts differs based on whether you choose the Entity-Level or Transaction-Level option. 

• Entity-Level Alerts – If you opt for Entity-Level alerts, the system creates the same number of alerts as there are unique entities within the selected transactions.  

• • If the same vendor is selected with multiple or a single transaction, only one alert will be created. For different vendors and different transactions, individual alerts will be created.  

• • Each entity will have its own corresponding alert.  

• • • Provides focused assessment of each individual entity’s overall behavior and potential risks. 

• Transaction-Level Alerts – One alert will be created for each transaction. The number of alerts created will depend on how many transactions are selected.  

• • This consolidated alert provides a comprehensive view of the flagged transactions. 

• • Provides broader analysis of potential patterns and anomalies across multiple entities. 

• Multi-level – No. of vendor or no of transaction can be selected. When any record is selected, only one alert will be created. 

Entity-Level” Alert Creation 

• Select multiple transactions for collective alert creation and choose “Entity Level.” 
• After creating the alert, you can choose to view the list of alerts or continue working in your current window. 

Transaction-Level Alert Creation  

• Select multiple transactions for collective alert creation and follow similar steps as above to create Transactional-level alerts.  
• After creating the alert, you can choose to view the list of alerts or continue working in your current window. 

Create Custom Alert  

So far, you have looked at creating alerts based on visualizations or risk-ranked transactional data associated with risk entities like vendor, employee, and customer. However, you can also create alerts for entities that have been identified externally from the konaAI system. Here is the process to include those alerts for further review or training the Machine Learning model.  

• Identify the Need for a Custom Alert – Create a custom alert(s) to monitor and investigate specific vendors or other risk entities. 
  • Useful in identifying unusual behavior patterns or suspicious activities that come up during compliance checks or audits. 
• Gather Entity Information – Obtain the vendor, customer, or employee ID, serves as a unique identifier for the entity within the konaAI platform.  
  • This ID allows you to directly create an alert associated with the vendor.  
• Navigate to the Custom Alert Creation Section – Within the konaAI interface, locate the section for creating custom alerts.  
  • This section enables you to define alerts based on specific risk entities, such as vendors, employees, or customers. 
• Select the Risk Entity Type – Using the dropdown menu, choose the appropriate risk entity type for the custom alert. In this case, select “Vendor” as the risk entity type since you are creating an alert related to a specific vendor. 
• Choose the Entity ID – Within the custom alert creation interface, locate the field where you can enter the vendor’s entity ID. Enter the vendor’s entity ID obtained in step 2. 
• Optional: Source and Risk Category – The custom alert creation section may include additional optional fields such as “Source” and “Risk Category.”  
  • These fields allow you to provide further context or categorize the alert based on the source of the information or the specific risk category associated with the alert.  
  • Fill these fields as applicable. 
• Create the Alert – After providing the necessary information, click on the “Create Alert” button to generate the custom alert associated with the specific vendor. 
• Track and Manage the Custom Alert – Once created, the custom alert will be tracked within the konaAI platform.  
  • You can access the alert management section to monitor and manage the custom alert, like other alerts created based on module, submodule lists, or transactional data.