SWIFT, a financial messaging consortium, has selected Sword FircoSoft to provide components of its new centralised sanctions screening service. Sanctions screening over SWIFT will combine Sword FircoSoft’s filtering application and list update service with the security and resilience of SWIFT, to provide a comprehensive and centralised screening service for small and medium-sized financial institutions in need of a quick, easy and cost-effective route to compliance with sanctions regulation.
Users of the service will be able to request selected SWIFT FIN messages be routed to the centralised screening application, where they will be filtered in real time, and checked against customers’ selected sanctions lists. If there is no match to the sanctions list, the message will be delivered as usual. If there is a match, customers will be asked to instruct SWIFT as to whether to release, abort or flag the message via an alert management system.
The new service is scheduled to go live in late 2011.
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more