Accuity releases Financial Crime Compliance Screening Module

Accuity, a financial crime compliance, payments and KYC solutions provider, has announced its AI-driven account screening capability, ‘Firco Automated Alert Reduction’. The solution, as the supplier states, aims to increase the accuracy level in detecting and evaluating screening matches during the KYC process.

The module will be able to integrate with the WorldCompliance data in order to expand its visibility into sanctions, politically exposed person (PEP) and adverse media lists, in support of compliance requirements. It elevates existing financial crime filters, thus reducing the burden for organisations with large scale compliance operations.

Sophie Lagouanelle, Vice President of Financial Crime Screening at Accuity said, “Sifting through screening matches to detect the true risks can be like trying to find a needle in a haystack. Not only does our solution considerably reduce the size of that haystack to expose risks with unparalleled precision, but it also intelligently prioritises those risks according to the organisation’s compliance policy, so operators can be far more methodical in their approach to reviewing hits.”

According to Accuity, Firco Automated Alert Reduction is expected to improve the effectiveness of screening and also records an electronic audit trail so screening results and the decision-making process can be shared easily with regulators.

The launch comes after and is a result of the Safe Banking System’s acquisition by Accuity in 2018.

Established in 1990, Accuity offers a suite of solutions for payments and compliance professionals, from comprehensive data and software that manage risk and compliance, to flexible tools that optimise payments pathways.

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