COAF Highlights the Collaborative Development of Its New Financial Intelligence System at FEBRABAN TECH

COAF's technology modernization brings together the public and private sectors

The new technology system of Brazil's Council for Financial Activities Control (COAF) is being developed through collaboration among the agency, reporting entities, and other public authorities. The approach was highlighted by Ricardo Saadi, president of COAF, during a podcast at FEBRABAN TECH, alongside the president of GFT Technologies.

According to Saadi, a financial intelligence system should not be designed in isolation. Its development must incorporate the experience of organizations and professionals who deal with risk every day and are responsible for identifying and reporting suspicious transactions.

The modernization effort therefore does not follow the model of a closed project developed internally by COAF and later delivered to its users. Instead, it provides for joint participation in designing the architecture that will support the analysis of reports submitted by regulated sectors in the coming years.

The expectation presented is that, once the platform is completed, COAF will rank among the world's most technologically advanced Financial Intelligence Units. Beyond the technology itself, the collaborative process is significant because it enables the sectors responsible for submitting reports to help design the tool that will analyze that information.

The initiative brings compliance, technology, the private sector, and government together around a shared goal: improving Brazil's effectiveness in preventing and combating money laundering and terrorist financing (AML/CFT). According to Saadi, this integration is expected to shape the country's capabilities over the next decade.