FacctView - Client Screening Technology
Overview
Financial crime technology have not been able to keep pace with increasing complexity, scale and velocity of new risks. Legacy technology-based AML screening technology is cracking under its own weight and simply couldn’t respond with pace and agility of current times and so firms have had to increase compliance headcount to support their sanctions screening processes.
Enter – FacctView – A cloud-first screening capability that is agile fast, accurate and relevant to your risk profile.
Designed and conceptualised by former makers and users of FCRM technology. Powered by a powerful patented matching algorithm, our open-boxed API’s along with real-time data feeds ensure that your data, screening, performance needs are all handled in a single spacewith significant reduction in your TCO and data remediation costs.
Key Features
Data
-Powerful database covering all major (25+) sanctions list including OFAC, HMT, EU and UN covering individuals, aircrafts, vessels and organizations.
-Full coverage (200K +) of global Politically Exposed Persons (PEP) list including domestic PEPs, Foreign PEPs, International organization PEPs and relatives and close associates (RCA)
-Robust adaptors in place to handle all major commercial list providers making the technology stack watchlist data agnostic
-Real- Time data feed with continuous data standardization rules so that your data feed is always up-date, relevant and complete
Cloud
-Technology stack built on cloud meaning no manual intervention, costly on-premisesinstallations and initial set up cost
-Ability to handle format changes in sanctions data with lowest time to compliance
-Support for deployment in multiple global locations (25+)
Screening
-Low latency, high processing speed through patented matching algorithm
-Effective and efficient outcomes with logic behind every risk decision
-Over >40 matching algorithms have best-in-class risk detection capabilities that find true risks from streams of different data sets
Intelligent Matching algorithm with differential weightages preconfigured so that you don’t need to worry about tuning
Performance
Designed for speed and reliability, FacctView can screen up to 2000 records per second with a latency of just 70ms per record
FacctView recorded the highest performance score against similarly placed peer group players with an overall 83% effectiveness against 97% efficiency – Independent SEQA (Screening Engine Quality Assessment) results
OPEX Cost
Affordable and scalable solution without compromise to compliance standards
On Cloud, SaaS engineered API solutions with easy over the air upgrades that don’t break your system
Significant reduction in Y-o-Y TCO and data remediation costs
Key Benefits
- Effective & efficient
- High impact of compliance and operational goals
- SaaS engineered
- Built for cloud delivery for efficiency and improved speed to compliance
- High performance
- Resilinet and fast screening that is scalable to massive volumes
- Turnkey
- APIs that do not require customers to build interfaces or workflow
- Watchlist ready
- Out-of-the box ongoing support for major commercial data products
- Inter-operability
- Add additional compliance components in step with evolving risk profiles or changing operational needs
- Deploy as primary or secondary screening engine
- Low friction API delivery for wide range of testing and implementation options
