Transaction Screening

What is transaction screening?

Real-time pre-clearing transaction screening enables the identification and management of all parties involved in payments. AML Transaction Screening compares the payment information against a predefined set of reference data of your choice.

The learning system remembers recurring parties, and will continue to monitor them for changes in the reference data. Our Solution ensures that every hit only needs to be processed once, and includes special rules to screen any remittance text.

Key Features:

• Supports multiple sources of external and internal reference data.
• Processing of various SWIFT, SEPA, ISO20022 or other payment message formats.
• Flexible configuration of screening rules and filters (Sanction & Embargo lists, PEP screening etc.).
• Screening rules for name information and remittance text can be configured separately.
• High performance and speed through regular pre-screening of known counterparties.
• Includes Screening for vessels, ports, dual use goods.
• Counterparties are screened instantly against the reference data.
• Workflow to process rejected payments, with an option to clear them.
• Parallel processing of high volumes of transactions.
• Fine tuning of screening rules for precise results.

Key Benefits:

• Pre-Clearing screening, resolution can be made before payment.
• Memorising of decisions – no re-screening of recurring counterparties necessary.
• Fully transparent screening rules, configurable according to your compliance and regulators’ requirements.
• More precise screening results through management of black and white lists.
• Time Critical Transaction Screening.

Support Multiple Payment Messages & Screening against hundreds of Sanctions List with a Single API

Identify risk in senders and beneficiaries, as well as other elements of a transaction such as reference text and payment narrative, by screening against a consolidated, near real-time database.

API Documentation

Key Conclusions

• Support both On-Premise and Cloud Solution → Deploy within a few hours.
• Unified Case management with full analysis of why the transaction was rejected, approved or assigned to be reviewed.