Financial data provider Accuity released Compliance Link version 3.0, the latest upgrade of the company’s watch list filtering solution.
Accuity, which is owned by business-to-business (B2B) data and content provider Reed Business Information, part of Reed Elsevier, added that product enhancements in the new version include the debut of an automated screening manager (ASM), designed to constantly monitor a customer’s full database against sanctions updates through automated techniques that save time and increase efficiency.
The ASM is designed to further enhance the capabilities of compliance professionals, to align with regulatory standards and global best practices against money laundering and financial crime. Accuity added that it will help automate the entire customer account screening process, reducing overall regulatory and reputational risk.
“Tackling illicit financial activity remains at the top of the agenda for over 15,000 banks and corporations that Accuity supports globally,” said Robert McKay, managing director for compliance solutions
“Aligning best practices, reducing exposure to regulatory and reputational risk, increasing screening efficiency and prioritising the users’ time is no small task. The enhancements of Compliance Link version 3.0 and the introduction of the ASM aim to better automate the often time-consuming processes that compliance officers are dealing with on a day-to-day basis and ultimately boost efficiency.”
However, a London summit on the industry’s introduction of the technology cautions that testing and acceptance are still at an early stage and firms should proceed with caution.
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