How does Firco Global WatchList compare to Payment Screening?

Firco Global WatchList by LexisNexis Risk Solutions is a robust screening solution that ensures compliance with global sanctions and regulatory requirements. The platform consolidates multiple watchlists, including sanctions lists, politically exposed persons (PEP) databases, and adverse media sources, providing comprehensive risk intelligence.

With real-time updates and advanced matching algorithms, Firco Global WatchList minimizes false positives while ensuring thorough risk assessments. The solution integrates seamlessly into existing compliance workflows, enabling organizations to streamline operations and maintain regulatory adherence.

ComplyAdvantage's Payment Screening solution ensures that financial transactions are screened against global sanctions lists, PEP databases, and adverse media sources in real-time. This solution helps organizations comply with international regulations by preventing illicit transactions and minimizing financial crime risks.

The system's advanced algorithms provide accurate and efficient matching, significantly reducing false positives and improving operational efficiency. Its flexible configuration options allow businesses to customize screening parameters based on their risk tolerance and regulatory requirements. Alerts and detailed reporting features keep compliance teams informed and prepared for audits.

By safeguarding payment processes, ComplyAdvantage's Payment Screening solution enhances security and ensures the integrity of financial operations.

• 🏆 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)

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

ComplyAdvantage, founded in 2014, is a RegTech company that specializes in providing AI-driven financial crime risk detection and anti-money laundering (AML) solutions. ComplyAdvantage leverages artificial intelligence, machine learning, and natural language processing to offer real-time risk insights and AML data solutions.

The company provides a range of services, covering:

- AML onboarding and monitoring
- Transaction monitoring
- Payment screening
- Politically exposed persons (PEPs) and adverse media screening
- Real-time sanctions and watchlist screening

ComplyAdvantage has experienced significant growth since its inception, raising $88.2 million through three rounds of venture capital funding and expansion of its operations with offices in the United States, Singapore, and Romania. The company serves over 1,600 businesses across the globe, including major financial institutions like Santander and Affirm, and clients have reported a 70% reduction in false positives and a 50% decrease in onboarding cycle time.