Accuity, the leading provider of global payment routing data, AML screening software and services, today unveiled its comprehensive Compliance Link solution featuring functionality to seamlessly integrate and manage an organization's global regulatory and enhanced due diligence screening processes.
Accuity's Compliance Link is an all-encompassing, modular solution for screening prospect, customer, vendor and employee information and financial transaction data against lists mandated by governments and AML regulatory organizations. Designed around Accuity's unrivaled compliance data and industry-leading filter engine to facilitate compliance with requirements in programs such as the 3rd EU Money Laundering Directive and the USA PATRIOT Act, as well as the U.S. Treasury's Office of Foreign Assets Control (OFAC), the solution resides within any organization's AML processes, allowing for both real-time and batch screening of items.
In addition to Case Management functionality that offers a central repository for distributing potential hits for review by different departments or users in an organization to streamline screening processes, Compliance Link is composed of the following modules:
- Translator - unique in the market, providing an additional layer of protection and certainty for screening non-Latin character names
- Parser - featuring SWIFT MT, International ACH Transaction (IAT) and Fedwire screening capabilities
- Web Service - enabling organizations to conduct screening throughout different departments, each with its own business rules
- Filter - built around Accuity's American Bankers Association-endorsed screening engine, FACFilter, incorporating Global WatchList caution lists and rule sets to help reduce false positives
- Private File Creator - allowing for the Filter to screen against custom-created lists of entities already identified as high-risk based on an organization's parameters
Accuity's Compliance Link allows organizations to consolidate their screening and match review processes by providing a single, scalable, multi-functional solution. It combines the benefits of the screening filters that Accuity customers have come to rely on since 1994 with features and functionality essential to today's compliance requirements.
"We developed Compliance Link because we realized there was a need in the market for a flexible, easy-to-install, easy-to-use, comprehensive solution," said Hugh Jones, President of Accuity. "It delivers everything needed for proper caution list screening in one place. With Compliance Link, organizations no longer need to purchase components from various vendors in order to compose an optimal solution - it's available end-to-end from Accuity."