The NetReveal Transaction Filtering solution helps financial institutions screen transactions to entities found on internal and external watch lists with the fewest amount of false positive alerts.
Financial institutions are responsible for screening payments that could trigger hits against sanctions watch lists. They must screen cross-border international payments, but also more and more domestic transactions against internal, public and commercial aggregator lists to comply with local or international regulations.
Financial institutions are spending more time, money and resources investigating false positives as transaction volumes and worldwide cross-border money transfer activities increase.
Missing an alert that is a true positive can have severe regulatory and reputational consequences if the transaction is not stopped.
Pinpoint transactions to entities on watchlist quickly
NetReveal Transaction Filtering helps financial institutions meet requirements to screen payments and provides a packaged, configurable, risk-based approach for watchlist investigators to facilitate regulatory reporting, transaction interdiction, and asset freezing.
The solution compares attributes of the person making the payment, or attributes of the person receiving the payment, against attributes of known persons or entities that are maintained in watch lists.
NetReveal Transaction Filtering provides financial institutions with:
- Match exclusion technology – improves investigator efficiency by reducing the number of false positives they would have to investigate on average by 40-60% without compromising filtering accuracy. Financial institutions can decide to remove the false matches, immediately close them, or keep them hidden from the investigator screens
- Entity-based investigations – improve investigator efficiency on average of 20-30%. Investigators are presented with a single combined alert related to a customer or entity in one user interface, rather than individual alerts for each triggered activity
- Comprehensive filtering coverage – inclusion of protocols for any message type, including SWIFT MT and MX, ACH, and FedWire.
- Automatic list updates – imports and updates watch lists daily or even multiple times per day to ensure up-to-date compliance protection.
- Real-time processing – performs advanced screening against millions of watchlist entries below 40 milliseconds on average.
BAE Systems named a “Category Leader” in Chartis Financial Crime Risk Management Systems: AML and Watch List Monitoring 2019 Vendor Landscape.
Chartis, Financial Crime Risk Management Systems: AML and Watchlist Monitoring 2019.
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