Provision of Sanctions Screening Service

Description

Provision of a screening service to perform sanction screening. The solution will batch screen a payment transaction listing prior to the payment being issued against a prescribed list of sanction lists inc US, UK and UN sanctions lists. The solution will: - batch screen a transaction listing, returning the results in a batch file to update our CRM system, - be configurable to allow filtering of potential matches based on pre-defined criteria, - deal with incomplete data eg no DOB or incomplete address, - allow enhanced due diligence eg providing beneficial ownership information for corporate entities, - use an efficient screening algorithm that produces a low false positive rate, - be able to handle fluctuating volumes up to a maximum of 2m payment records within tight SLA. There will also be an optional service which is the provision of the first stage review of potential matches identifying and eliminating the false positives.