Choosing AML software
How to choose AML software in Australia.
AUSTRAC Tranche 2 brought thousands of small businesses into scope. You have four real options. Here is how they compare, and where Senly AML fits.
| Option | Setup | Ongoing cost | Best for |
|---|---|---|---|
| Senly AMLYou are here | Self-serve, minutes | From A$29/seat per month, ID checks pay-as-you-go | Small firms that fit an AUSTRAC starter kit |
| AML/CTF consultant | Weeks, engagement-led | Thousands up front, plus ongoing fees | Complex or out-of-kit situations |
| DIY with AUSTRAC templates | Free to download, you build it | Free, but your time and your risk | The confident and the very small |
| Enterprise platform | Sales-led, demo required | Quote on application, priced for scale | Large firms and institutions |
Senly AML serves businesses that fit an AUSTRAC starter kit. Complex or out-of-kit situations are better served by a consultant, and we will tell you so.
What to look for.
- Runs AUSTRAC's official starter kit for your sector
- Self-serve sign-up, no sales call
- Transparent, predictable pricing
- Customer due diligence with KYC, KYB and sanctions screening built in
- Data held in Australia
- Tamper-evident records kept for seven years
Comparison questions, answered.
- What is the best AML software for a small Australian business?
- The best fit is software that runs AUSTRAC's official starter kit for your sector, is self-serve, prices transparently, and keeps your data in Australia with audit-ready records. Senly AML is built for exactly that, from A$29 per seat per month.
- Do I need AML software or a consultant?
- If your business fits one of AUSTRAC's published starter kits, software can run it end to end for a fraction of a consultant's cost. A consultant is worth it for complex or out-of-kit situations that need a custom program.
- What should AML software for Tranche 2 include?
- Enrolment guidance, an AML/CTF program from AUSTRAC's kit, customer due diligence with sanctions and PEP screening, suspicious matter and threshold transaction report drafting, a training register, and seven-year record keeping.
- Is free AML software enough?
- Free templates from AUSTRAC are a starting point, but you have to operate everything yourself and carry the risk. Software that runs the kit for you, screens customers and keeps the evidence is what makes compliance sustainable day to day.
See where you land.
Start free for 30 days. No sales call, no card needed.