Banks and Financial Institutions
A New Era in AML Compliance
Numerous US banks are already benefiting from using Fincom’s AML Screening Solutions for KYC, Wire, SWIFT, ACH, RTP, and more.
In today’s interconnected financial landscape, banks and financial institutions are bound by rigorous AML regulations.
The complex cross-border and cross-jurisdiction payments landscape places banks and other financial bodies at the forefront of AML/CTF regulatory compliance, facing potential repercussions for lapses. Funding for terroristic activities can clandestinely maneuver through complex transactional layers.
Financial Institutions grapple with challenges including elevated operational costs associated with AML compliance: extensive workload in compliance departments, inflated alert rates, a lack of transparent audit trail, and more.
Recognized for its revolutionizing impact
on the future of Banking AML Compliance
Compliance made easy with AML SUITE FOR BANKS & FI's
- Accommodating specific requirements of each payment method:
- ACH and more
- KYC/KYB Onboarding & Ongoing Screening (Perpetual KYC)
- Intuitive graphic Case Management System
- Ready for internal or external Audit
Proven in US Banks to reduce operational costs by >90%
Accurate and immediate sanction screening upon onboarding
Accurate ongoing monitoring (pKYC) pursuant to regulations
Frictionless AML Sanction screening for cross-border transaction
The lowest Alert Rate on the market: <1-7%, depending on payment method
STP Rate – 95%
Explainable and transparent process, clear audit trail
All processes are managed throug a single centralized graphic UI