Velocity Sanctions and List Screening (SLS) has a proven track record for screening against major sanction regimes, internal lists, and can address alerts as well as report in real-time and batch processing. Velocity SLS enables effective screening against various sanctions lists and has a built-in workflow to process alerts and investigate customers.

Input
  • Watch lists
  • Customer Data
  • Transaction Data
Process
  • Batch screening
  • Filtering and match scoring
  • Real time transaction interdiction
  • Real time list change monitoring
  • Fuzzy / Phonetic matching using Machine Learning
Output
  • Alert Reports
  • Alerts: Release, Block, Escalate
  • List Update Notifications

Smart And Powerful Sanctions And List Screening

  • Capable of screening against any custom lists defined by the regulator or the institution.
  • Easily integrates with core payments/banking platforms and applies smart filters, fuzzy logic, and scoring criteria along with a build-in alert management workflow making it easy to manage alerts.
  • The system integrates data from UNSCR/OFAC/OSFI/Australian/EU/UK (HMT) lists through web services and offers change notifications in real time.
  • Can handle a large volume of data.
  • Built-in workflow for alert management.
  • Available PEPs list for screening and integration capabilities with third-party data providers.
  • Able to perform screening for
    • LC opening
    • Bearer checks
    • Existing customer screening
    • Account opening/customer creation
    • Remittance transactions/bulk screening
    • SWIFT message interdiction and screening (outgoing & incoming)

Automate your sanction screening with Velocity

With increasing complexity in the sanction compliance regulations and expectations, financial institutions might face a lot of problems like false alerts, inefficient processes, increased cost, and potential gaps in the compliance program. This can put a financial institution at risk of reputational damage and penalties.

Velocity’s Sanction and List Screening software automates and increases the efficiency of sanction compliance programs. The software helps the compliance team to effectively monitor and investigate the risk, and detect suspicious activities, if any.

Velocity’s SLS software helps the financial institutions to adapt as per the changes in the sanctions and stay compliant. It helps to manage the risk, especially when the volume is high.

Features

FLEXIBLE AND EFFICIENTThe solution is fit for institutions of all sizes and is highly configurable.

USER-FRIENDLYVelocity’s SLS software is easy to use and is highly customizable.

GENERATES HIGH-QUALITY ALERTSBy analyzing multiple-data sources, the system generates high-quality alerts.

ACCURATE RESULTSVelocity’s SLS is an advanced software designed using AI and machine learning, ensuring improved accuracy.

ADAPTABLEThe software is designed to reduce the complexities and adapt as per the changing demands.

SCALABLEVelocity’s SLS is highly scalable and can handle large volumes of data in real-time.

Benefits

  • Protect businesses from false queriesWith millions of transactions occurring daily, the risk of financial crime is high. Velocity’s SLS software helps in detecting suspicious transactions and generating reports after sanction screening.

  • Increases efficiencyVelocity’s SLS saves a lot of time by automating the entire process. It speeds up the screening process and delivers high-quality alerts, which increases efficiency and strengthens the sanction compliance program.

  • Ensures accuracyUsing advanced technology, Velocity’s SLS software ensures accuracy while screening a large amount of data. The system also applies sophisticated and effective algorithms like smart filters, fuzzy logic, and scoring criteria which helps manage alerts accurately.

FAQs

  • How do sanctions and list screening software help businesses ensure compliance with international sanctions and watchlist requirements?

      Velocity integrates data from UNSCR/OFAC/OSFI/Australian/EU/UK (HMT) lists through web services and offers change notifications in real-time. The software is designed to screen against the major sanction regimes, and internal lists, and can address alerts and real-time batch processing.

      With the help of built-in workflow, it can effectively screen against various sanction lists, and investigate and generate alerts. This helps businesses to stay compliant with international sanctions and watchlist requirements.

  • How do sanctions and list screening software help businesses ensure compliance with international sanctions and watchlist requirements?

      Velocity integrates data from UNSCR/OFAC/OSFI/Australian/EU/UK (HMT) lists through web services and offers change notifications in real-time. The software is designed to screen against the major sanction regimes, and internal lists, and can address alerts and real-time batch processing.

      With the help of built-in workflow, it can effectively screen against various sanction lists, and investigate and generate alerts. This helps businesses to stay compliant with international sanctions and watchlist requirements.




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