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WH Ireland selects FinScan compliance technology

13 May 2009  |  1909 views  |  0 Source: FinScan

FinScan, a leading international provider of sanctions, PEP and heightened risk entity screening solutions, today announced WH Ireland Ltd. have chosen the FinScan hosted solution to help reduce enterprise risk and enhance its compliance with the screening requirements of the 3rd EU Directive's Anti-Money Laundering (AML) and Anti-Terrorist Financing (ATF) regulations.

WH Ireland will screen new and existing customers against World-Check's data file of known heightened-risk individuals and entities, which is fully integrated with the FinScan solution.

WH Ireland is one of the largest independent regional stockbroking houses in the UK and has had a presence in Manchester for over 150 years. The company now has 13 offices in the UK, including Birmingham, Bristol, Cardiff, Colwyn Bay, Leeds and London, as well as an Australian subsidiary in Perth, W.A.

WH Ireland chose FinScan over several other contenders, citing key differentiators such as ease of deployment and use, sophisticated matching technology that reduces false positives without increasing the risk of missing a real hit, and the unique ability to begin with either hosted or licensed deployment and then move from one to the other at any stage.

"Our sales model allows organisations of any size and philosophy -- towards in-house or hosted solutions -- to take advantage of an efficient 'best of breed' data and screening solution that delivers unmatched screening accuracy and is flexible to their individual needs," said John Haley, FinScan Sales and Marketing Manager.

Used in thousands of projects worldwide, FinScan's robust matching engine facilitates the efficient and accurate screening of large volumes of records with very precise, user-configurable rules for flagging suspicious records. This process greatly reduces the risk associated with missing real matches (false negatives), and minimises the time and cost associated with researching false matches (false positives).

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