Transaction Monitoring Solutions
Designing a transaction monitoring solution can be a challenging task, especially looking at the regulatory obligations and an ever changing IT landscape.
We combine the best understanding of Software Engineering with years of banking compliance knowledge to draft a solution blueprint that actually deliver results to the business. 'Simplification' is at the core of what our designed systems looks-like and 'Operational Efficiency' is at the forefront of what we deliver.
Name Comparison against Sanctions Lists
Financial services providers now have a duty to evaluate customers and beneficiaries with respect to their risk potential in order to prevent terrorism financing and money laundering. The 3rd EU Anti-Money Laundering Directive and the Swiss FBC Ordinance state that not only persons with terrorist or criminal backgrounds must be flagged but politically exposed persons (PEPs) must be as well. All are subject to the special due diligence requirements.
Regularly Check Customer Base
The high-performing Name Matching Customer software compares customer data to entries in sanction lists. New customers can be checked individually as soon as a new business relationship is opened, by using individual queries.
Which Sanction Lists are Used?
The most frequently used sanction lists contain up to 700,000 persons of risk and PEPs. They include:
Managing Hits/No-Hits payments & data archival
Our engineers have designed effective ways to manage historical data related to hit payments and better manage individual data-sets without breaking the 'business-as-usual' pattern of screening new payments.
Contact us today to see how can we help you with your Transactions Monitoring needs.
Designing a transaction monitoring solution can be a challenging task, especially looking at the regulatory obligations and an ever changing IT landscape.
We combine the best understanding of Software Engineering with years of banking compliance knowledge to draft a solution blueprint that actually deliver results to the business. 'Simplification' is at the core of what our designed systems looks-like and 'Operational Efficiency' is at the forefront of what we deliver.
Name Comparison against Sanctions Lists
Financial services providers now have a duty to evaluate customers and beneficiaries with respect to their risk potential in order to prevent terrorism financing and money laundering. The 3rd EU Anti-Money Laundering Directive and the Swiss FBC Ordinance state that not only persons with terrorist or criminal backgrounds must be flagged but politically exposed persons (PEPs) must be as well. All are subject to the special due diligence requirements.
Regularly Check Customer Base
The high-performing Name Matching Customer software compares customer data to entries in sanction lists. New customers can be checked individually as soon as a new business relationship is opened, by using individual queries.
Which Sanction Lists are Used?
The most frequently used sanction lists contain up to 700,000 persons of risk and PEPs. They include:
- EU lists
- OFAC lists
- Lists from commercial services, such as World-Check™
- The bank's own internal blacklists
Managing Hits/No-Hits payments & data archival
Our engineers have designed effective ways to manage historical data related to hit payments and better manage individual data-sets without breaking the 'business-as-usual' pattern of screening new payments.
Contact us today to see how can we help you with your Transactions Monitoring needs.