Effortlessly integrate FinScan's advanced technology into your workflow and conveniently manage all your AML operations from a single platform.
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FinScan helps healthcare organizations establish robust AML screening to safeguard against money laundering and criminal activity. Our solution ensures global compliance with AML/CTF regulations and data protection laws.
Effortlessly integrate FinScan's advanced technology into your workflow and conveniently manage all your AML operations from a single platform.
Attain more accurate screening results by enhancing data quality, resulting in fewer false positives and uncovering hidden risks.
Utilize years of experience in AML compliance to acquire a comprehensive knowledge of regulatory obligations as well as the complexities of healthcare activities.
Establish a foundation for long-term success by fostering a relationship grounded in exceptional customer service and ongoing support from our AML subject matter experts.
Effortlessly integrate FinScan's advanced technology into your workflow and conveniently manage all your AML operations from a single platform.
Attain more accurate screening results by enhancing data quality, resulting in fewer false positives and uncovering hidden risks.
Utilize years of experience in AML compliance to acquire a comprehensive knowledge of regulatory obligations as well as the complexities of healthcare activities.
Establish a foundation for long-term success by fostering a relationship grounded in exceptional customer service and ongoing support from our AML subject matter experts.
A robust AML solution enables healthcare organizations to identify and prevent financial crimes, safeguard their reputation, comply with industry regulations, and improve operational efficiency by streamlining AML operations and redirecting resources towards patient care.
| AML Processes | Regulatory Requirements | Products |
|---|---|---|
| Customer due diligence | Obtain patient information, including their name, address, date of birth, and other identifying data. Confirm the identity of patients by validating their identification documents and requesting proof of address. Determine the ultimate beneficial owners of entities during onboarding. |
FinScan FinScan ID validation FinScan UBO |
| KYC screening | Screen patients against sanctions, PEP, watchlist, internal lists (including fraud lists) and adverse media. |
FinScan customer screening FinScan entity screening |
| Onboarding risk assessment | Measure AML risk associated with patients by dynamically evaluating multiple factors to assign risk ratings. |
FinScan risk evaluator |
| Enhanced due diligence | Perform necessary due diligence in accordance with patient risk ratings and extend your investigations for patients with high-risk profiles. |
FinScan EDD |
| Ongoing monitoring | Ensure patients are continuously monitored for any sanctions, PEP designation, watchlist inclusion and any internal list inclusion. Keep track of any changes in the corporate ownership structure to detect any new UBOs. Stay on top of your business relationships by continuously monitoring any changes in risk profile that require further due diligence. |
FinScan FinScan UBO FinScan risk evaluator |
| Transaction screening | Screen transactions when receiving donations or taking payments. |
FinScan transaction screening |
| Documents and notes | Store patient documents and notes securely, making them easily accessible when needed, and use them to document your decision-making process. |
FinScan case management |
| Audit trail | Ensure compliance with regulatory requirements by accurately recording all AML data and patient information, tracing every case to its origin. |
FinScan audit trail |
Healthcare providers must adhere to complicated regulations. Implement a cutting-edge solution that simplifies AML operations and enables you to enhance regulatory compliance efforts while maintaining high levels of operational efficiency.
| Challenges | Solutions | Features |
|---|---|---|
| Large record volume | Effectively manage any volume of records, ranging from a few thousand to hundreds of millions, with dependable processing capabilities. Screen rapidly and proficiently through API or batch screening overnight, preventing any disruption to daily operations. Enhance screening technology and data quality to guarantee manageable false positive rates for your review team. |
API & batch screening Screening technology Built-in data quality engine |
| Multiple data sources | Effortlessly link multiple data sources and maintain consistent formatting to fine tune matching criteria and enhance accuracy. Furthermore, eliminate duplicate records to reduce unnecessary alerts, streamline the screening process, and save time. |
FinScan data prep |
| Data quality challenges | Address data quality problems that frequently arise in the insurance industry and result in false negatives during AML screening. With FinScan, have peace of mind knowing that you have the necessary tools to confront these issues directly, ensuring that high-risk policyholders are not disregarded. |
Common data anomalies |
| Global operations | Facilitate your AML operations across the globe by conducting screenings against the required AML lists by jurisdiction. Utilize FinScan’s native-to-native screening technology to screen in various languages and alphabets, leading to more precise screening outcomes. |
AML list coverage Screening technology |
| Cross-team escalation | Tailor your escalation workflow and user controls with FinScan to accommodate your AML operations on a global scale. Configure alerts with ease to be reviewed by users across various countries and teams, while retaining the capability to escalate to the appropriate team. |
Case management tool User access control |
| Data protection regulation | Select the deployment alternative that optimally adheres to local data protection regulations. Whether on-premise, cloud-based, or a combination of both, you have the versatility to meet the most intricate data protection needs, guaranteeing compliance while promoting your business expansion. |
Deployment options |
Learn how a multinational health insurer managed global expansion with FinScan’s flexible solution. Partnered with FinScan, the organization was able to customize deployment to adhere to strict data protection laws, screen 95 million records and counting, and easily integrate over 150 different data feeds quickly and efficiently.
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