UAE Firco User Forum, Dubai
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From regulatory pressure to operational issues to budget constraints, there is no shortage of challenges facing today’s banks.
These challenges are further compounded by the globalisation of business. As money moves around the world, banks must keep up with customer demand for fast, frictionless processing whilst continuing to deliver compliance without compromise.
Validate is trusted by banks to eliminate the cost of failed bank-to-bank payments and reduce friction for their end users.
Validate is the easy-to-deploy API solution that can usually be released to market within just three months without the need for integration support. Furthermore, Validate comes with a straightforward set of API management and developer tools, so customers don’t need to maintain any custom tools.
The first blog in our Accelerating Payments series looks at how the Covid-19 pandemic has propelled payments digitisation, opening the door to a realm of future possibilities. With a vaccine now firmly on the horizon, will payments revert, or will the trend continue?..
API technology integrates Bankers Almanac intelligence on global financial institutions with Firco financial crime screening software to automate enhanced due diligence reporting…
Choose the solution that works for you
Whether you are a global financial institution or a community bank, Accuity solutions help you remain agile and responsive to your customers. Meet changing AML regulatory requirements and satisfy your KYC due diligence obligations with confidence.
Data you can depend on
Accuity compiles and validates information from a broad base of carefully vetted primary sources. Through Bankers Almanac Risk & Compliance solutions, you’ll have instant access to regularly updated intelligence on global financial institutions and more than 630,000 time- stamped KYC documents.
Quickly assess the regulatory risk of new and existing counterparties and gain visibility into the ultimate beneficial owner, crucial for a comprehensive view of risk.
Accelerate counterparty onboarding
Collecting accurate, timely information directly from counterparties can be manually intensive, particularly if you need to make multiple requests from counterparties that are slow to respond. Onboard your counterparties more quickly and enhance customer service with automated processes for capturing KYC data and due diligence documentation.
Gain greater insight with Online Compliance, a fast and easy look-up tool for searching high-risk entities against watch lists. Receive immediate alerts if customer status changes so you can take preemptive action to protect your institution from unintended risk.
Improve efficiency, auditing and reporting
Discover a new level of efficiency and accuracy in your daily workflow using Firco Compliance Link. This all-in-one solution that can be readily configured to address your institution’s specific needs.
Generate regulator-ready reports automatically
, or on a manual basis as needed to meet requests from regulators and stakeholders. With Accuity solutions, well-documented audit trails and comprehensive reports are always at your fingertips.
Speed and accuracy are two essential requirements when processing global and regional payments. Route payments quickly, reliably, and safely every time with accurate financial data and screening solutions from Accuity.
Failed or returned payments can impact your customer’s business, introduce settlement risk, weaken the relationship and cost your institution money. With the Bankers Almanac suite of payment services, cleansed and validated payment codes and routing data ensure your payment transactions flow uninterrupted. Payments are routed correctly the first time, eliminating the cost and delay associated with errors and returns. Automated processes and repair reduce manual intervention to further streamline operations.
A wide choice of payment codes and financial institution data are available to match your needs. Our comprehensive, highly flexible solutions easily integrate into your existing payment system for end-to-end payments processing, including screening payment messages against sanctions.
Raise the bar on customer service
Deliver the high level of service customers expect with frictionless processes that begin at the point of payment setup. Bankers Almanac products delivered through an API can validate beneficiary details such as IBAN as your customers type, and then automatically add additional information, including standard settlement instructions (SSI). Accurate data improves the speed and certainty of settlement to keep transactions – and your customer’s operations – flowing smoothly.
A foundation for compliance
Enhance your payment processing with Firco Continuity, a powerful, scalable solution that screens large volumes of transactions without slowing straight-through processing rates. Gain full visibility into your payments and benefit from advanced reporting and audit functionality to meet heightened regulatory scrutiny. Accuity payment solutions are also compliant with ISO 20022 messaging standards.
For screening customers, financial transactions, and goods from a single integrated platform, there’s no better option than Firco Compliance Link. Improve matching by targeting business needs with relevant caution and enhanced lists from the expansive choices available in Firco Global WatchList®. Lists are updated regularly and seamlessly integrated with Accuity solutions, providing the key information you need to accurately identify potential risk and meet compliance obligations.
The increased use of sanctions and ever-growing volume of cross-border payments are causing an explosion in alerts, straining compliance resources and budgets alike. Institutions are also taking a closer look at their sanctions screening frameworks due to heightened regulatory scrutiny.
Meet these challenges head on with Accuity. Our suite of scalable transaction screening solutions proactively identify high-risk payments, temper compliance costs and safely process millions of transactions for institutions of all size and sophistication.
Efficient and effective
Automated processes efficiently screen large volumes of transactions in real time against a broad range of sanctions lists to identify true hits with greater accuracy. With fewer false positives delivered into the workflow and an overall reduction in the number of alerts requiring review, your compliance team has more time to focus on other high-level tasks.
Institutions depend on Firco Continuity to reliably screen large volumes of transactions and Firco Compliance Link, a flexible all-in-one solution, to screen high-volume accounts and transactions. For lower volumes, Online Compliance is a convenient look-up tool to search components of a transaction against sanctions and politically exposed person (PEP) lists.
Accurate data, accurate results
A wide range of worldwide caution lists seamlessly integrate into Accuity solutions to provide critical, up-to-date sanctions information. These lists, which are available in Firco Global WatchList®, are compiled from sanctioning bodies, law enforcement and media – and updated regularly – to ensure you’re working with the most currently available information. Improve matching by selecting lists that align with your geographic reach and business focus.
Sanctions represent the highest level of risk, so there is no room for error. Advanced reporting with complete audit trails provide transparency and explainability when regulators come calling.
Accuity also supports compliance with ISO 20022 message standards to speed your transactions and reduce risk.
Grow your business
The ability to build a broad global banking network while ensuring its integrity is a key competitive advantage. Quickly and confidently establish a presence in new markets with a comprehensive suite of solutions from Accuity.
Consistent, reliable data
Onboard counterparties from around the world with automated screening of know your customer (KYC) data and detailed due diligence documentation from the Bankers Almanac portfolio of KYC solutions. Accuity validates information from a broad base of carefully vetted primary sources providing instant access to regularly updated intelligence on global financial institutions. Select the right regional partner based on a holistic view of risk that includes critical insight into legal operating structure, key branch ownership and officer information.
Improve efficiency and simplify workflow
Choose from Firco Compliance Link, an all-in-one solution that can be configured to meet your needs or use our online lookup tool, Online Compliance, to search for high-risk entities. Centralised access to caution lists from all major sanctioning bodies, law enforcement agencies, and financial regulators worldwide in one convenient and comprehensive source is available with Firco Global WatchList®.
Drive payment efficiency with Bankers Almanac for Payments, which offers a suite of flexible solutions from online lookup for routing data to APIs that can be integrated into your payment system for fast, accurate processing.
Be the counterparty of choice
Early entry into new jurisdictions is an important advantage in uncovering new business and driving growth. Choosing the right bank to work with in an unfamiliar market is critical and complicated. Validate your decisions and minimize money laundering and sanctions risk with vital banking intelligence to support your counterparty due diligence efforts.
Protect your organisation’s financial standing and reputational integrity with proactive customer screening solutions from Accuity.
Solid risk assessment starts with robust data
Accuity provides comprehensive, reliable screening information to quickly flag high-risk customers. Select from a wide range of caution lists in Firco Global WatchList® that go beyond standard HM Treasury and OFAC lists. Data is sourced from worldwide sanctioning bodies, enforcement agencies and media – and updated regularly – ensuring your risk decisions are based on the most detailed and current information available.
Evaluate risk at the speed of business
Nimble responses and efficient processes are critical to success in today’s fast-moving financial ecosystem. Reduce costly manual intervention with accurate, automated customer screening against sanctions, politically exposed persons (PEPs), and reputationally exposed persons (REPs).
Choose from Firco Insight, a fully-automated solution that uses filtering intelligence to dramatically reduce false positives and highlight true matches according to risk severity; Online Compliance, a manual look-up tool with flexible access to comprehensive data; or Firco Compliance Link, an automated, all-in-one solution for screening customer accounts and transactions. Benefit from:
Identify hidden risks of trade shipments and dual-use goods
Protect against trade-based crime
Prevent sanctions violations and money laundering with a holistic view of risk across your institution’s transactions, customer accounts and trade activity. Screen all your financial and trade activity as well as customer accounts and commercial relationships against a full breadth of sanctions and high-risk goods lists with Accuity.
Fast and efficient
Trade transactions are highly paper-based and review is manually intensive. Generic language, incomplete trade documents, and complex technical terminology that is hard to understand, all add to the difficulty of accurately detecting dual-use goods, which are products that can be intended for legitimate use or for military applications.
Streamline screening with Firco Trade Compliance. This optional offering seamlessly integrates with Firco Compliance Link to provide comprehensive functionality for screening against documents, vessels and other trade-based data to identify dual-use goods. It also monitors ships for sanctions violations in real time to ensure you are not shipping through a sanctioned port of call.
Available via Firco Compliance Link, an all-in-one account and transaction screening solution, Firco Trade Compliance will help to significantly reduce false positives and prioritise alerts to improve your efficiency.
Data you can trust
Strengthen compliance with optimised data from Firco Global WatchList®. This comprehensive collection of worldwide caution lists includes the most up-to-date information on sanctions, politically exposed persons (PEPs) and reputationally exposed persons (REPs).
Harness the benefits of Accuity solutions to: