Effective procedures to facilitate regulatory reporting, transaction interdiction or asset freezing

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Transaction filtering

As a result of both exposure and increased regulatory enforcement orders, financial institutions must assess their transactions to determine whether any involve any sanctioned entities, including:

  • person or entity;
  • vessel or aircraft;
  • export sanctioned goods or services;
  • a financial institution or intermediaries;
  • territories, including ports or cities;
  • dual use items with civilian and military application.

The Detica NetReveal®  transaction and payment filtering solution provides effective and efficient procedures to facilitate investigations and actions such as regulatory reporting, transaction interdiction or asset freezing. It is widely used for screening transactions in a variety of formats including SWIFT MT, SWIFT MX, NACHA ACH, ISO20022, FEDWIRE.

Key benefits of our transaction and payment filtering solution include:

  • Capture of watch lists and import to managed watch lists such as OFAC, HM Treasury, EU, DFAT, OSFI, and UN.
  • Blocking and interdiction of transactions in real-time and follow up reporting through regulatory disclosure or workflow instructions to users.
  • Across key business lines Payments, Trade Finance, Securities, Treasury.
  • Creation of exclusion lists where parties may have similar details to those on watch lists.
  • Formatting of customer and transaction lists to suit the information to be included.
  • Automatic import of data from source and third-parties.
  • Detection of different forms of data within financial transactions, such as names and addresses or free text information such as dates and numeric details.
  • Detection logic for specific transaction types, geographies or counterparties.
  • Fingerprint watch list entries added to lists, so sanctions can be applied quickly for new or updated records.
  • Scalable architecture including high-availability, fault-tolerance and load-balancing.
  • Minimising false positives through tuning of detection logic.
  • Swift Certified Solution Provider for 10 years.

For more information please download the factsheet on Transactions and payments filtering factsheet from the knowledge centre.