Fincom on FinCrimeTech50 list: helping banks and FIs prevent misdirected payments

Securing its spot in FinCrimeTech50 list by FinTech Global, Fincom demonstrated yet another achievement in combating financial crime.

With its new approach to Name Matching, Fincom has succeeded in solving the challenging issue of misdirected payments, i.e. payments landing in wrong accounts either due to mistakes or fraud attempts.

The ability to verify the correlation between Account # and Account holder is essential to prevent such mistakes as well as fight one of the major fraudster’s fronts.

Fincom’s Solution validates the correct match of Account # / Account Holder for domestic payments or performs IBAN-Name Check for cross-border transactions with unprecedented accuracy. The system:

  • is capable of Name Matching within and across 44 different languages/alphabets,
  • supports real-time payments, wires, and cross-border transactions,
  • supports Instant VOP Request applications for SEPA/Instant Payments with screening speed of <15msec,
  • secures BAV as part of wire transactions flow and COP for fraud prevention in outgoing payments.

Fincom’s solutions ensure fast and simple deployment and suitable for all types of banks.


For more information, visit: www.fincom.co

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