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Sanctions Screening and Patriot Act 314(a) Compliance

 

The Infoglide IRE solution for Sanctions Screening and 314(a) Compliance enables  banks to accurately and efficiently check customers and transactions against sanctions, PEP, and internal lists as well as manage regulatory requests such as FinCEN 314(a) data.

Using the same technology that powers the US Department of Homeland Security’s TSA screening program, Infoglide’s IRE solution provides breakthrough technology that delivers one of the most accurate scanning and matching solutions in the world. As a result, its unique “federated query” capability searches data across disparate data-spanning department silos and organizational boundaries. It is preconfigured to work with hundreds of industry watch lists, including Accuity, World-Check and Dow Jones, and it also works seamlessly with internal data.

Infoglide IRE has additional capabilities to support the unique requirements of Patriot Act 314(a) compliance. Our software provides an accurate and scalable solution that enables banks to scan disparate data repositories for matches within FINCEN data. Unlike the email requests and spreadsheet tools still in use, dedicated federated search and intelligent matching systems can be precisely tailored to match regulatory requirements and deliver consistent levels of accuracy.

With its service-oriented architecture, IRE for sanctions screening can be operated as a stand-alone product or integrated with the bank’s existing technology platform.

Key benefits of Infoglide’s technology solutions for sanctions screening and Patriot Act 314(a) compliance include:

  • Reducing false positives and improving operational efficiency with best-in-class screening and matching;
  • Reducing IT headaches with Infoglide IRE’s unique “search data where it lives” capability that does not require data to be moved into a centralized data warehouse;
  • Speeding time to market with support for hundreds of lists including Accuity, World-Check and Dow Jones; and
  • Service-oriented architecture, simplifying integration with existing anti-money laundering (AML) and Customer Due Diligence (CDD) / Know Your Customer (KYC) solutions.