A US-based health insurance company sought a screening solution that could support its AML operations across 10 countries and efficiently screen its database of 95 million records against sanctions and PEP lists. They wanted to find a partner for the long term that could support their growth strategy of acquiring businesses globally. In addition, they wanted a solution that was highly customizable and adaptable to all AML and data protection regulations of each of the countries in which they operate. With FinScan, the organization was able to find a solution that offered integration with multiple AML lists and the ability to screen in any language, plus flexible deployment options to guarantee compliance with all jurisdictional requirements.

With strict data protection laws in place, the health insurer had to take a hybrid approach when implementing FinScan. In countries such as Thailand, China, South Korea, and Taiwan they opted for an on-premise implementation to ensure that their sensitive patient information remained within the country, as Microsoft Azure does not provide local hosting in those regions. For their US and Canadian divisions, a cloud-based implementation was chosen due to its scalability, ease of maintenance, and cost efficiency.

AML and CTF regulations for the healthcare sector vary in each of the 10 countries in which the insurer operates, requiring them to screen against different AML lists and apply different levels of due diligence. For example, in the US these lists range from federal regulatory bodies down to specific state lists. The health insurer could integrate with Dow Jones AML lists and their own specific lists where they knew they needed to enhance their due diligence checks. The organization’s own lists included Medicare and Medicaid blacklists to screen for previous fraudulent claims and The Crimea list and occupied Ukraine lists to avoid doing business with vendors under Russian influence.

In countries such as South Korea, Thailand and China, the health insurer was able to get more accurate screening results with FinScan’s advanced native to native screening capabilities. This was utilized where native lists were available, and native characters could be directly screened rather than translated. However, where native data was missing, they were able to use FinScan’s transliteration technology to translate and screen the lists.

The health insurer’s global expansion has continued to be a success – when acquiring new businesses, they were able to quickly integrate their AML operations to FinScan without needing professional services, with a total of 155 data feeds being connected. In the event of an acquisition where keeping AML operations separate was needed, they were able to re-use an existing implementation of FinScan and rapidly enable it with minimal professional services support.

For over 20 years, the health insurer has trusted FinScan to screen their customers and support their growth globally. Their AML operations have been running smoothly with a match rate of 0.6%, thanks to FinScan’s advanced technology that provides greater accuracy results regardless of the language, culture or alphabet.

Simplify your screening process while securing your clients’ information with FinScan. Speak to an expert today.