The first wave of compliance screening deployment is approaching completion. In the evolution of regulatory compliance, almost every financial institution has now put in place at least a basic screening programme to ensure that it meets the minimum standards required for compliance, and will be regularly screening its customer base to protect itself against unknowingly aiding criminal activity and reporting their findings to the regulator.

However, as regulatory and legislative demands – and consequently compliance workloads – steadily increase, the focus is shifting away from achieving basic compliance towards increasing screening accuracy to maximise operational effectiveness and concurrently reducing levels of unnecessary review work to achieve optimal cost efficiency. Preparation of customer and watch list data is essential requirement to build a robust, reliable and streamlined compliance process.

Datanomic’s new Risk & Compliance Screening solution is at the forefront of a second wave of compliance screening. It delivers a brand new suite of capabilities to further increase the highly accurate and flexible screening firmly established in previous versions. New Risk and Match Scoring combined with flexible and configurable case workflows enable rapid identification and assignment of high risk alerts to the right resources at the right time.

These new capabilities will enhance Datanomic’s proven credentials as the leading supplier of enterprise-class screening software, with more than 5 billion customer records being screened using the solution every month by many of the world’s leading financial institutions.

Key features of the new version include:

• Combined Risk and Match Scoring to allow prioritisation of case reviewer activity onto highest threat matches
• Match process improvements to deliver more accurate screening of entities
• Advanced Workflows to enable accurate assignment of Alerts based on priority, risk profile and review group skills
• Improved Case Management to make it easier to manage and report on match result investigation
• Simplified Real-time Screening User Interface to enable non-technical users to carry out screening
• Standards based transliteration for 45 different writing systems

Click here to download the version 5 product brochure
Click here to download the version 5 technical datasheet

To find out more about how dn:Director for Sanctions & PEP Screening could assist your organisation to improve compliance performance, please call us on +44 (0)1223 228450 or email us.