Competition in the financial industry has created numerous channels and products in the market. These have contributed to the complexity in systems and services, making it difficult to effectively monitor all transactions in real time. Further, gaps between traditional banking and mobile money have created a good breeding ground for laundering.
Financial Institutions have to adapt to solutions, which can integrate with all channels to ensure that transactions are compliant in real time or batch. Financial institutions list e.g OFAC SDN, HMT Watch List, UN Watch List, Country Specific Watch Lists, and other watch lists can be integrated including internal managed list. Our solutions will definitely increase efficiency and transparency in sanction screening program.
The solution features include:-
- Powerful algorithm for accuracy
- Match precision
- Allows for many sanction lists depending on the institution
- Duplicate checking
- Audit control:- maintains trail of all screening
- Transaction Screening:- real time and batch