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| For organizations committed to complying with regulatory screening requirements — and protecting their institution’s integrity and reputation — FinScan Hosted provides an easy to deploy and easy to manage alternative to software licensing. It provides world-class compliance performance, without the substantial commitment of time and resources required to support an in-house solution. |
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You're in Control
With FinScan Hosted, you determine the matching parameters, rules and schedule for screening, and we perform the work to your specifications. You’re also free to change the rules or schedule whenever you wish. |
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FinScan Hosted screens customer records against virtually any suspect or sanctions list, and integrates with a broad array of public and third-party PEP lists. It also offers the flexibility to be used for screening against do-not-call lists, excluded party lists and internal risk lists. |
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End-To-End Data Security
Your customer data is safe with our 128-bit data encryption, fully-secure FTP site and SAS 70-certified hosting and processing data center. To offer further security, we support and subscribe to the Seven Principles of the Safe Harbor Framework of the European Commission's Directive on Data Protection. (View our Safe Harbor Privacy Statement here.) |
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Screen Millions, Thousands, or Just One Record
FinScan Hosted is fully scalable to all of your organization's compliance screening needs, providing a variety of ways to screen your customer data: |
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Screen a multi-million record database on a regular schedule |
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Upload thousands of records as your needs dictate and receive the “hits” for review |
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Check individual records online, in real time, and receive the results instantly |
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Plus, as your list screening needs evolve, you can easily change your selected deployments — or move to FinScan Licensed — quickly and easily. |
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Industry-Leading Capabilities and Support |
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In addition, like all FinScan compliance solutions, FinScan Hosted offers advanced processing capabilities and a comprehensive compliance package that enhance matching precision and support your internal compliance administration and operations, including: |
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Data Quality Management that Maximizes Matching Precision, While Minimizing False Positives
To enhance matching precision, FinScan Hosted cleanses, parses and standardizes the data in the 30+ sanctions lists we manage prior to matching. This helps ensure that all screening records are clean and in consistent formats, making match comparisons more efficient and more precise — and minimizing false positives that require costly, time-
consuming review. |
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Alias Propagation that Reduces False Negatives
As part of our data cleansing process, FinScan identifies the "name" elements within a record — including aliases, nicknames and names contained in other data fields — and propagates those name variations into additional records to be included in the matching process. |
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Identifying and matching against such "hidden" names helps prevent the possibility of a false negative — a true match that goes undetected — which exposes the organization to the penalties and negative publicity that could result from non-compliance. |
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End-to-End Compliance Service that Saves You Time and Effort
To help relieve you of some of the administrative and operational demands of sanctions list screening and due diligence, our comprehensive FinScan Hosted service also includes: |
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Continual monitoring and updating of more than 30 key sanctions and PEP lists, including the OFAC SDN1 and HM Treasury lists, to ensure that your customers are screened against the most recent and accurate data available |
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Our Web-based Case Management Tool that speeds suspect review and electronically provides the information needed to promptly determine which suspect matches can be identified as “safe” – freeing reviewers' time for more productive tasks |
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Production of due diligence reports, including audit files that detail the name of the reviewer, the information used in the review process, the results of the investigation and the reasons for the decision reached. |
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Proven Data Matching and Data Quality Performance
The advanced data quality and data matching capabilities that drive
FinScan’s screening accuracy are powered by Innovative Systems, Inc. (ISI), an internationally-recognized leader in customer data management that has been serving the needs of global financial institutions since 1968. The performance and precision of ISI's data quality and matching solutions have been proven in thousands of applications for financial services organizations worldwide. |
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Learn more ... |
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Find out how FinScan Hosted can meet all of your organization’s list screening and PEP compliance needs — without the overhead and infrastructure required to operate an in-house solution.
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Call 1-800-622-6390 or download a free data sheet here. |
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