FinScan upgrades platform for instant payments compliance

FinScan, the anti-money laundering (AML) platform from Innovative Systems, has reported a year of product enhancements, performance upgrades, and leadership expansion aimed at helping financial institutions manage compliance in increasingly real-time payment environments.

The developments reflect growing pressure on banks, FinTechs, insurers, and payment providers to strengthen financial crime controls as instant payments, cross-border flows, and ISO 20022 adoption increase both transaction speed and complexity.

“Compliance can’t be reactive anymore—it has to be real time, risk-based, and built on high-quality data,” said Deborah Overdeput, Chief Operating Officer at Innovative Systems. “Everything we delivered over the last year—from expanded payment screening to API-first data quality and trade finance enhancements—moves the industry closer to that standard.”

Over the past 12 months, FinScan has expanded its payment screening capabilities to support modern rails, including native IACH and Fedwire using ISO 20022 formats, enabling broader monitoring across real-time and batch domestic and international transactions. The platform has also introduced conditional risk logic that dynamically evaluates higher-risk activity based on transaction thresholds, corridors, counterparties, and custom blocklists.

Operational enhancements include improved alert management for faster escalation handling and upgraded reporting that provides full match histories and decision trails to strengthen auditability and support regulatory filings. The company has also expanded its API-first data quality tools to enable real-time data cleansing, helping institutions reduce missed matches and improve screening accuracy. In trade finance, new field-level controls and deeper integrations are designed to improve detection precision while lowering false positives.

As its customer base grows to include high-volume neobanks and paytechs, FinScan has invested in scalability. The platform now supports processing volumes exceeding 100 million transactions per day, with most screenings completed in under a quarter of a second and response times as low as 66 milliseconds.

To support its next phase of growth, the company has made several leadership appointments across product, strategy, partnerships, and commercial functions. Customer retention stands at 93%, well above typical SaaS benchmarks, underscoring continued demand for scalable, real-time AML infrastructure as financial institutions adapt to faster payment ecosystems and tighter regulatory expectations.