How does Bankers Almanac compare to FacctView - Customer Screening?

Bankers Almanac, offered by LexisNexis Risk Solutions, provides critical insights into financial institutions and global banking networks. The platform offers comprehensive data on correspondent banking relationships, regulatory risk assessments, and institution-level compliance requirements.

Designed to support due diligence and compliance efforts, Bankers Almanac integrates seamlessly with risk management workflows, providing detailed reporting and actionable intelligence. This solution helps organizations mitigate risks, ensure compliance, and enhance their understanding of global financial ecosystems.

Facctum's Customer Screening solution, branded as FacctView, is an agile, fast, and highly accurate platform designed to simplify and strengthen customer onboarding and compliance processes. FacctView allows organisations to screen customers against global watchlists, PEPs (Politically Exposed Persons), sanctions, and adverse media in both real-time and batch mode.

The platform addresses common challenges in sanctions screening, such as managing multiple data sources and handling name variations, which often lead to false positives. With its advanced technology and flexible integration options, FacctView ensures compliance effectiveness while improving operational efficiency at scale.

Key Features and Benefits:
- Packaged Watchlist Data: Seamless integration with major watchlist sources like Refinitiv and Dow Jones, providing access to blacklists, PEPs, sanctions, and adverse media feeds.
- Accurate Matching: Utilises over 40 advanced algorithms to ensure precise detection of name variations, misspellings, phonetic similarities, and more.
- Reduced False Positives: By applying appropriate weights and continuous data standardisation, the solution achieves a 97% efficiency rate in reducing false positives.
- Faster Compliance: Robust APIs deliver screening results with an average latency of just 80 milliseconds, accelerating compliance processes and decision-making.
- Swift Deployment: The platform can be deployed within two weeks, ensuring minimal disruption and rapid time-to-market for organisations.

Additional Capabilities:
- Real-Time & Batch Screening: Supports both real-time and batch data screening with continuous data standardisation to maintain updated and relevant data feeds. Batch scheduling enables continuous automated monitoring.
- Configurable Matching Rules: Allows customisation of matching rules to align with an organisation's specific risk profile. Real-time testing and tuning enhance operational outcomes, supported by an integrated sandbox environment for trial runs.
- Alerts Engine: Offers flexible alert management options, either as a standalone feature or integrated with existing systems. Configurable rules help control sudden spikes in alerts and suppress repeated false positives.
- Audit Trails and Observability: Maintains a comprehensive audit trail of all screening activities, including search criteria, results, and actions taken, ensuring transparency and accountability. Role-based access controls restrict access to sensitive data and functionalities, safeguarding compliance operations.
- 360-Degree Reporting and Dashboards: Provides powerful reporting and dashboards to support both regulatory and internal compliance monitoring needs.

• 🏆 Ranked - Strong Performer by Forrester (2024)
• 🏆 Best Overall AI Company by AI Breakthrough Awards (2024)
• 🏆 Named on RegTech100 by FinTechGlobal (2024)
• 🏆 Financial Crime and Compliance50 2024 - Ranked 4 by Chartis (2024)
• 🏆 RiskTech100 2024 - Ranked 13 by Chartis (2024)

• 🏆 Ones to Watch by Chartis (2023)

LexisNexis Risk Solutions is a global data and analytics company that provides information-based analytics, decision tools, and data management services to help organizations make informed decisions, stay compliant, reduce risk, and improve operations

Facctum is a risktech company founded in 2021, specializing in Financial Crime Compliance (FCC) and Anti-Money Laundering (AML) solutions for the financial sector. Facctum are headquartered in London, England, with operations in Dublin, Pune, and Bangalore.

The company offers a suite of cloud-delivered enterprise AML solutions, including:

FacctList: A watchlist management platform that streamlines data feeds from various sources in near-real time
FacctView: A cloud-first screening solution for agile and accurate risk profiling
FacctShield: A quick and efficient transaction screening tool for modern payments landscapes
FacctGuard: An advanced transaction monitoring system that detects threats in real-time and uncovers complex behaviors
FacctCheck: A customer due diligence and KYC solution that automates data sourcing and provides continuous event monitoring

Facctum's technology is designed to improve compliance effectiveness, enhance risk detection, and increase operational efficiency. The company's SaaS-first approach and focus on explainability make it an attractive option for entities looking to modernize their financial crime prevention strategies.