How does Firco Global WatchList compare to FacctList - Watchlist Data Management?

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.

Facctum's Watchlist Data Management solution, branded as FacctList, is a purpose-built platform designed to streamline compliance processes related to sanctions screening. By integrating multiple sanctions lists with advanced automation capabilities, FacctList empowers organisations to achieve faster compliance, enhanced data accuracy, and optimised workflows.

Core benefits and features include:

- Customised Screening: FacctList supports the tailoring of watchlists to meet specific risk-based criteria, avoiding a one-size-fits-all approach. Organisations can create bespoke sanctions lists based on business and jurisdictional needs, reducing false matches by 15–20%.
- Efficient Data Handling: The solution provides seamless integration with over 20 country-specific data sources, including Dow Jones, Refinitiv, the UN, and OFAC. This ensures comprehensive data coverage and compatibility with diverse datasets, making it watchlist data agnostic.
- Deduplication and Auto-Reconciliation: FacctList eliminates redundant data, significantly reducing false positives and streamlining the screening process. It also auto-reconciles sanctions data with official and regulatory sources, ensuring that no potential matches are missed.
- Real-Time Monitoring: The platform continuously monitors global regulators' websites (e.g., UN, OFAC) every five minutes, enabling swift updates to sanctioned records even before consolidated reports are published.
- Customised Output Formats: Tailored output files are generated to meet the specifications of any downstream system, ensuring seamless integration and efficient data transfer.
- 360-Degree Dashboard and Reporting: A comprehensive dashboard improves decision-making, operational efficiency, and control. The system records and stores all actions, enhancing auditability and providing a clear lineage for compliance processes.

Seamless Integration and Deployment:
FacctList is built to integrate seamlessly into existing compliance technology stacks within 4–6 weeks, offering unmatched flexibility in data handling and deployment. Its AWS-qualified software ensures secure and efficient operations, while its capability to customise formats and outputs enhances compatibility with enterprise systems.

Specialised EU Compliance for SEPA Payments:
FacctList offers real-time monitoring of the EU Journal and instant access to EU sanctions data to ensure compliance with SEPA payments. Features such as data reconciliation and accurate data extraction using advanced Large Language Models (LLMs) further strengthen its capabilities.

• 🏆 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.