Meeting Compliance & Fraud Challenges with Confidence: Customer Watchlist Screening Made Easy
Leverage RiskShield to automate customer watchlist screening, detect fraud, reduce false positives, and stay ahead of global compliance requirements.
RiskShield simplifies Customer Watchlist Screening by ensuring efficient and accurate PEP and Sanction checks. Built to meet the demands of the EU Instant Payments Regulation, it not only helps financial institutions stay compliant but also proactively identifies fraud risks, reduces false positives, and streamlines operations.
The solution integrates seamlessly with leading watchlist providers and adapts to evolving regulatory requirements for AML compliance. With RiskShield, organizations can confidently manage compliance, detect fraud patterns in real-time, and improve operational efficiency.
benefits in short
- Automated Compliance: Streamlines daily and periodic screenings.
- Fraud Detection Capabilities: Identifies fraudulent patterns and suspicious activities during watchlist screening.
- Real-Time Screening: Instantly checks PEP or sanction status.
- Fuzzy Name Matching: Matches names despite spelling variations.
- False Positive Reduction: Minimizes unnecessary alerts.
- Flexible Deployment: Available as SaaS or on-premise.
Don't miss our webinar: "Navigating New EU Instant Payments Regulation: Compliance & Fraud Challenges" | Jan 30, 2025 / 2:00 PM-3:00 PM
Join our experts to navigate the challenges of compliance and fraud prevention in the era of instant payments. Discover actionable insights to ensure your organization stays ahead while processing instant euro transfers seamlessly and securely.
Click here for more information.
Navigating Compliance Challenges in Instant Payments
Financial institutions and PSPs face growing pressure to comply with evolving regulations like EU Regulation 2024/886, while simultaneously combating the increased risk of fraud. Key challenges include:
- Frequent Watchlist Updates: Maintaining accuracy with constant updates in real-time.
- False Positives Overload: Inefficient screening systems create unnecessary alerts, consuming valuable resources.
- Operational Inefficiencies: Manual processes slow workflows, increasing the risk of compliance errors and payment delays.
- Heightened Fraud Risks: Instant payment systems can be exploited by fraudsters, requiring advanced detection measures to prevent financial losses.
Without an effective solution, these challenges can lead to regulatory penalties, operational disruptions, financial fraud, and dissatisfied customers.
The RiskShield Advantage: Intelligent Watchlist Screening Made Simple
RiskShield is designed to help financial institutions and PSPs address compliance and fraud prevention with ease, offering advanced automation and scalability to meet regulatory demands and protect against financial crime.
Core features include:
- Real-Time Screening: Process customer and transaction data instantly with minimal disruption.
- Batch and Periodic Screening: Automate daily and incremental screenings to stay compliant with EU regulations.
- Fraud Detection and Prevention: Identify suspicious patterns and prevent fraud in real-time during customer and transaction screening.
- Advanced List Management: Ensure compliance with immediate updates to watchlists.
How RiskShield Simplifies Compliance and Prevents Fraud
RiskShield goes beyond compliance, delivering measurable results that streamline operations, prevent fraud, and save costs while enhancing accuracy and reliability.
- Automated Compliance:
Eliminate manual errors with fully automated customer and list screening. - Operational Efficiency:
Leverage Hybrid AI to significantly reduce false positives, detect suspicious patterns, and eliminate redundant processes, saving time and resources. - Scalable and Flexible:
Deploy RiskShield as a cloud-based SaaS or on-premise solution to suit your business needs.
With these features, RiskShield not only ensures compliance but also drives efficiency and cost-effectiveness across your operations.
For more information about our solution, download our dedicated info paper.
Take the Next Step Toward Seamless Compliance!
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Till Diekmann
Solution Owner Compliance | Risk & Fraud
Till has been a consultant within the Professional Teams since 2016, gaining experiences with projects focusing on E-Commerce, Issuing and Transaction Session Monitoring. Since 2018 he has been focusing on Compliance, working closely with our customers on projects around Transaction Sanction Screening and Customer Watchlist Screening.