AML SUITE FOR
FINANCIAL INSTITUTIONS
costs by up to 90% in US Banks and global Financial Institutions
"Our [former] vendor required lengthy updates several times weekly and a very high false positive rating. We were incredibly impressed with [Fincom's] behavioral analytics, ease of use and the customer service of its team. ...I am very pleased with Fincom and would recommend it to any financial institution as a more effective way to scan wires for OFAC violations with very few false positives."
Registered FRB Vendor
Supporting the use of the Fedwire Funds Services with its cutting-edge sanctions screening solution, Fincom is an officially registered Federal Reserve vendor.
Accurate sanction screening
across
all Payment Rails
Wire | RTP (FedNow) | ACH | SEPA
Accommodates specific requirements of each payment method.
Managed from one centralized Case Management System.
Onboarding KYC/KYB
Sanction & PEP screening
- Screen names (individual or legal entity) against sanction, internal, PEP, or any other required lists.
- Name match validation through additional parameters: address, DOB, nationality, country of incorporation, etc.
- Global address resolution, and more.
Perpetual KYC/KYB
Fully automated pKYC solution. The ongoing monitoring is performed automatically, screening the entire client’s database against the latest version of sanction or PEP lists without disrupting the usual workflow
Intuitive
Case Management System
Supports multiple teams’ operations with a built-in permissions hierarchy.
The system supports task assignments and allocation, alert management, notifications, dashboard, reports, and more.
All the important information on each case (alert sources, related resources, and other info) is easily accessible from within the system.
Smart Alert Suppression Mechanism
Automated Alert Suppression (Persistence) mechanism remembers each past decision, enabling auto-clearance of previously approved entries, while continuously monitoring the approved cases for any change, both in the entity’s data as well as in the sanction lists’ data.
Fincom’s Alert Suppression is a highly conservative mechanism that resolves the dangers of the risky practice of whitelisting.
Automated Lists Update
Automatic Ongoing updates of lists’ data are performed by dedicated BOTs on a daily basis, updating either the whole data set or only changes.
The update processes are logged and time stamped to allow complete transparency, reporting, and auditing according to regulation requirements.
Traceable & Transparent
Audit Trail
Supports and explains the decision-making process, providing detailed, easily accessible information and logs on each decision.
Reports
Reports include: metrics and query log for each analyst, KPI’s, cases resolved by automation / analyst / status, data sources logs and time stamps.
Fincom offers a robust AML screening solution that utilizes advanced technology for accurate name matching. The solution incorporates a powerful Phonetic-Linguistic engine with a phonetic fingerprint core-technology, enabling real-time verification of data across multiple sources and 44 different languages in original alphabets. It successfully resolves different name transliterations, pronunciations, and spelling mistakes and variations.
Based on the Phonetic Fingerprint Technology, Fincom’s solutions are specifically designed to provide a high level of precision and recall rate, while minimizing false negatives (missed hits) The mathematical decision-making mechanism is transparent, traceable, and explainable, aligning with regulatory and operational requirements.
PHONETIC-LINGUISTIC ENGINE
Based on Phonetic Fingerprint
patented technology
Insights
