Financial Crime
Money laundering and terrorist payments are all threats to which financial institutions must act against. Checking for sanctioned entities is a resource intensive operation. Currently, most financial institutions are using some form of electronic process to check transactions against watch lists. However, with transaction volumes growing and new regulations being launched all the time, many solutions are now becoming costly and inefficient to manage. The only practical answer for most institutions is either to increase the thresholds, risking the possibility that some transactions will be missed, or to increase the size of the physical teams managing the work queues. Neither are palatable options.
We take financial crime seriously at Logica. That is why we conduct Anti Money Laundering research and created HotScan Plus , our automated transaction filtering and customer scanning software.
In collaboration with one of the world’s largest global Banks, Logica has moved one step ahead in the fight against financial crime and developed new Intelligent Self Learning software, a unique solution to significantly enhance the efficiency of any filtering and sanctions screening system. In recent production trials, reductions of between 20% and 50% have been confirmed.
Interested in learning more about our solutions in the fight against financial crime? You can reach us at GlobalProducts@logica.com
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