back Back

Facctum releases open access platform to combat financial crime

By Gloria Methri

November 28, 2022

  • Compliance
  • Cybersecurity
  • Facctum
Share

Facctum, open access FacctView Facctum, a RiskTech company specialising in cloud-based anti-financial crime technology, has launched an open-access search version of its FacctView platform. This technology allows users to search business relationships and determine areas of potential sanctions compliance risk.

FacctView was designed to deliver financial crime risk management tools as a Software-as-a-Service. It leverages high-speed Ab Initio parallel processing technology in combination with a cloud-native product to help detect financial crime risks.

Ab Initio provides Facctum with clustering and matching capabilities based on 12 technology patents – an approach supported by over 40 matching algorithms.

Ab Initio provides transparent, detailed evidence to understand the cause of every potential alert, making compliance decisions easy to explain. Facctum integrates these Ab Initio capabilities into specialised screening solutions that are capable of processing large data volumes in real time to cluster, search, filter, and score potential risks.

With open access, Facctum is making the technology accessible to companies with sanctions risks or compliance obligations. Until today, businesses without the means to access proven risk technologies have relied on the search functions of government websites or finding access to low-cost products. Open access FacctView provides an alternative that is simple to use and delivers effective compliance outcomes.

KK Gupta, Founder, and CEO of Facctum said, “Sanctions compliance can be very challenging for smaller institutions, in terms of operational impact and technology spend.  With the open-access release of FacctView, we are providing full access to our core matching technology at no cost.  The Facctum team hopes this initiative will lead to more comprehensive, effective, and efficient sanctions compliance and a safer financial system.”

Previous Article

November 28, 2022

ACI Worldwide drives payments modernisation for Ecentric Payment Systems

Read More
Next Article

November 28, 2022

ADIB enables IPO subscriptions via its banking app

Read More






IBSi Daily News Analysis

Complaints Fraud

May 22, 2024

Compliance

UK SMEs lack fraud protection, facing significant financial risks, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

May 22, 2024

SurePay teams up with FIS to deliver Verification & CoP solutions

Read More

May 22, 2024

Zwipe taps Ermes srl to distribute biometric access cards in Italy

Read More

May 22, 2024

CashFlo acquires Logitax to expand its Finance Automation & Compliance Suite

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023