Which software supports Tranche 2?
AML/CTF compliance software for Tranche 2 businesses is a newer, smaller category than enterprise banking AML platforms — built around program generation, CDD workflows, and registers sized for professional services firms rather than financial institutions. Here's what to look for when building a shortlist.
Last updated 13 July 2026
Sound familiar?
- Most AML software you find is built for banks and looks wildly overbuilt for a small firm.
- You don't know what to search for — there's no single obvious category name.
- You don't want to sign up for five demos just to find the two that are relevant.
What Tranche 2-focused software typically covers
- AUSTRAC enrolment guidance and tracking
- Risk assessment and AML/CTF program generation from your business details
- Customer due diligence workflows — identity verification, beneficial ownership checks
- Registers: staff training, compliance officer records, suspicious matter decision logs
- Ongoing update alerts when AUSTRAC guidance or deadlines change
How this differs from enterprise AML platforms
Enterprise AML software (built for banks) is typically priced and configured for transaction monitoring at scale, with implementation timelines measured in months. Tranche 2-focused software is generally self-serve, priced per business rather than per transaction volume, and designed to be usable without a dedicated compliance team.
Related reading
Coming soon
AML Compliance Software Directory
This interactive tool isn't built yet (planned component: VendorDirectory). Check back soon, or read the guidance above in the meantime.
Where this leaves you
A shortlist of software categories and vendors worth evaluating, without wading through enterprise banking platforms that don't fit.
Have a shortlist? Compare the options feature-by-feature →
Which software is best? →A lightweight AML platform, built exclusively for Tranche 2
Get AUSTRAC's mandates done as fast and effortless as possible.
- Built around AUSTRAC's actual requirements
- Single maintained compliance file
- No compliance expertise required
- 25 minute initial compliance setup
- Obligations calendar & reminders
- Instant data export
This is general information, not legal advice. Always verify current requirements on the AUSTRAC website or seek professional advice for your specific situation.