Payment Screening
Boost sanctions compliance, reduce false positives and improve efficiency.
Executive Summary
ComplyAdvantage's Payment Screening solution is designed to help financial institutions and businesses enhance their sanctions compliance, reduce false positives, and improve operational efficiency. Leveraging AI-driven technology, it proactively screens payments against global sanctions lists, watchlists, PEPs, and adverse media, ensuring timely and accurate risk detection. The solution can be purchased standalone or as part of the broader ComplyAdvantage Mesh platform, which unifies customer and company screening with transaction monitoring. It aims to automate labor-intensive processes, provide a high straight-through processing (STP) rate, and offer a balanced approach between robust compliance features and enhanced efficiency, ultimately allowing firms to provide a better customer experience while meeting regulatory obligations.
Use Cases
- Screening payments against global sanctions lists and watchlists.
- Reducing false positives in payment screening processes.
- Automating compliance checks for high-volume transactions.
- Enhancing risk management for financial institutions and businesses.
- Integrating with existing payment systems for real-time screening.
Features
Visibility
- Customizable Dashboards: Gain a simplified view of screening results, risk alerts, and compliance metrics with configurable dashboards.
- Case Management: Manage and investigate flagged payments, review potential matches, and document decisions for audit purposes.
Intelligence
- AI-Driven Sanctions Screening: Leverage AI to screen payments against global sanctions lists, PEPs, RCAs, and adverse media with high accuracy.
- False Positive Reduction: Minimize irrelevant alerts through advanced AI algorithms, improving efficiency and reducing manual review.
- High Straight-Through Processing (STP): Achieve seamless compliance with a high STP rate, allowing legitimate payments to pass without manual intervention.
Support
- Expert Guidance: Access industry expertise and best practices to optimize your AML compliance program.
Technical Specifications
- Architecture
- Cloud-native, AI-driven platform leveraging the ComplyAdvantage Mesh architecture for unified AML risk intelligence.
- Deployment
- SaaS
- API Available
- Yes
Pricing
- Starting Price
- Contact sales
- Target Customer
- Mid-Market,Enterprise
Ratings & Reviews
G2: 4.7/5/5
About ComplyAdvantage Ltd
ComplyAdvantage is a SaaS-based risk intelligence platform that leverages AI to combat financial crime, including anti-money laundering (AML) and fraud detection. It provides solutions for identifying sanctions, politically exposed persons (PEPs), and adverse media risks, supporting ongoing monitoring and investigations to enhance compliance and reduce false positives. The company's mission is to empower businesses to eliminate financial crime through a unified platform and extensive partner ecosystem.