Accuity, a US-based payment efficiency and compliance solutions provider, has rolled out the latest version of its watch list filtering solution, in a bid to improve anti-money laundering measures and counter financing of terrorism.
The new upgraded Compliance Link version 2.7 solution features a Consolidated Entity Display and Cyrillic Matching Engine, which further strengthen the capabilities of compliance officers at banks and other financial institutions.
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The Consolidated Entity Display has been designed to provide a new data format which brings together all related entities from a particular watch list.
Using proprietary logic, the Cyrillic Matching Engine identifies potential matches when input and Global WatchList data is presented in Cyrillic characters.
Since most of the firm’s Global WatchList lists contain source data in native languages, such as Russian, Ukrainian, Bulgarian, Belarussian and Macedonian, the new Compliance Link version 2.7 enables to screen against these entities in their native character sets, as well as their transliterated values in Latin script.
The new version of watch list filtering solution will conduct an automated real-time and batch screening against multiple caution lists, and will also provide multiple screening algorithms.
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By GlobalDataAdditionally, the latest version will also configure modules that enable total control of screening and review processes.
Accuity global compliance businesses managing director, Henry Balani, said: "The enhancements of Compliance Link version 2.7 aim to better automate these oftentimes cumbersome processes to assist with the reduction of false positives and ultimately boost efficiency and compliance."
