BEST COMPLIANCE SOLUTIONS
Major regulatory breaches in 2016 steered the conversation at private banks towards enhanced due diligence (EDD) for higher-risk customers. It is precisely here where Accuity excels as a solutions provider. Unlike ‘traditional’ compliance solutions that provide a snapshot view of trade and compliance processes and are typically unable to capture the entire scope of the trade or relationship, Accuity’s continuous and event-based screening provides institutions with full visibility throughout the customer lifecycle.
Firco Compliance Link’s Automated Screening Manager (ASM) – a comprehensive one-stop compliance screening solution developed by the firm – has proven to be a popular product with private banks, due to its ability to enable users to conduct automated real-time and batch screening against multiple caution lists.
In addition, ASM’s automated audit trail component means that all filtering processes ensure client risk appetites are accounted for. The architecture of the solution provides flexibility through its API (application programming interface) with the front, middle and back office.
Evidence of Accuity’s success is the fact that its sophisticated screening engine, coupled with its comprehensive data, powers 94% of the top 100 banks – including a number of private banks – in Asia.