Firco Continuity – How it works


Firco Continuity is a high volume, high-speed solution to real-time transaction screening.

Here’s the process it follows:

  • The powerful filtering engine works in milliseconds to compare a transaction against the sanction and blocked parties’ lists. If it identifies there’s any need for further investigation, it’s shown as an alerted message.
  • An alerted message can be raised when a transaction contains a name, country, company vessel or bank detail that matches the lists that the bank are screening against.
  • The system compares every word of the transaction against a file consolidating all of your bank’s lists. How? By using a combination of Artificial Intelligence, fuzzy logic and up to 42 possible algorithms chosen by you.
  • The system employs your bank’s risk scoring, business rules and exceptions to allow reduction of false positives.
  • When alerted messages are identified, they’re halted until your staff can review the specific transactions.
  • Automated clearing is done through effective hit reduction strategies and with the addition of Firco Decision Reapplication solution.

 

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