Why FinScan

At FinScan, we embrace a distinctive approach that sets us apart. It’s not just about what we do; it’s about why we do it. Our mission goes beyond the ordinary, and our passion for excellence fuels every aspect of our work.

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Extensive AML Data Integration
Advanced Screening Accuracy
Case Management Efficiency
Performance & Scalability
Trusted Partner
Responsive Support

Extensive AML Data Integration

An anti-money laundering (AML) screening solution should effortlessly adapt to your unique needs, integrating seamlessly with any data source you require. FinScan’s data-agnostic technology has been refined over more than two decades to provide the flexibility that is paramount for businesses like yours.

With FinScan, you’ll never have to worry about compatibility with specific lists—we’ve got it covered. In fact, we go even further. We provide and meticulously maintain publicly available compliance lists such as OFAC, HMT, UN, and Interpol, and 49 state healthcare exclusion lists, all accessible with your FinScan license.

And that’s not all. We also natively integrate with industry-leading risk data providers like Dow Jones and LSEG World-Check, giving you access to the highest quality data sources. Our technology not only integrates with any list but also cleanses and standardizes compliance data, just like it does with your customer and transaction records. This ensures accurate comparisons, leading to higher screening accuracy and reduced false positives.

FinScan filters these datasets across all possible variables to adapt the configuration to your business’s risk exposure so you can better control alert volume and reduce unnecessary or irrelevant alerts. For example, when screening politically exposed persons (PEP) and relatives and close associates (RCA) risk we can filter to the exact position, title, duration, and any other variables you want to incorporate into your screening program.

In addition, we make connecting to block lists seamless. With FinScan, you’re not just getting a screening tool; you’re getting a partner that empowers you with unrivaled flexibility and accuracy in your compliance efforts.

Advanced Screening Accuracy

In the fast-paced world of compliance, precision is the cornerstone of success. At FinScan, we’ve redefined AML screening accuracy to set a new standard in the industry. Our journey began more than two decades ago, fueled by a commitment to tackle organizations’ most complex screening challenges.

Conventional methods such as widespread reliance on percentage-based and weighted score matching were missing the mark. Because we knew that true accuracy demanded a deeper level of insight, we developed a proprietary matching technique and technology that stands in a class of its own. Our innovative approach not only provides deep insights into why two records matched; it empowers you to set alert thresholds with unparalleled precision.

Knowing that accurate, timely data is core to compliance processes, we also created a powerful data quality engine that ensures your data is impeccably prepared. If a record contains multiple names, it automatically separates them into distinct records, safeguarding that no names are overlooked. Noise words are swiftly eliminated, and formats are harmonized for seamless processing.

We recognize your need for a solution that not only identifies all relevant matches but also minimizes false positives. With FinScan, you’re in control. Our technology meticulously sifts through noise, filtering out unnecessary alerts triggered by data inconsistencies and outdated matching techniques.

So, what does this mean for you? It’s less time and frustration for your team. It means focusing only on alerts that truly signify a potential risk. With FinScan, you’re not just getting a screening solution; you’re getting a partner in precision, redefining what’s possible in compliance screening technology.

Case Management Efficiency

In today’s world, compliance analysts must be equipped with robust insights into the rationale behind each alert. This is possible when a solution uses a comprehensive user interface that revolutionizes the prioritization and evaluation of screening alerts. FinScan’s case management tool transcends conventional screening technologies, offering a profound grasp of information and facilitating efficient decision-making throughout the alert review process.

Developed with the active involvement of our clients who regularly navigate the intricacies of alert reviews, FinScan ensures these insights empower decision-making and foster confidence and clarity. To ensure proper remediation and resolution of alerts, FinScan supports a peer review-based workflow, providing an additional layer of scrutiny for accurate alert disposition.

In situations where swift action is imperative due to a suspicious alert, FinScan introduces an escalation workflow. This feature promptly notifies senior team members, facilitating additional review and enabling decisive action—all within the same seamlessly integrated platform.

In addition, every move made by your team is meticulously recorded in FinScan’s audit trail which comprehensively documents each chapter of your team’s actions and decisions, ensuring transparency for internal reviews or regulatory audits.

For chief compliance officers (CCO) and money laundering reporting officers (MLRO), FinScan goes beyond promises with real-time dashboards that offer tangible efficiency and productivity—simplifying the navigation of the complexities inherent in their roles.

With FinScan’s case management tool, your team is no longer a roadblock. At the same time, new team members are efficiently guided by an intuitive, user-friendly interface, rendering training an effortless and streamlined process.

Performance & Scalability

At the core of FinScan’s capabilities lie exceptional performance and scalability. FinScan not only screens vast volumes of records with the utmost reliability in record time; it also seamlessly adapts to the evolving needs and growth of your business.

FinScan reliably and effortlessly manages tasks ranging from overnight screening of extensive customer databases to efficient processing of billions of transactions. FinScan processed more than 300 billion SaaS records with instances exceeding 400 million individuals—without a single reported application crash. This showcases our proven capabilities in managing substantial data loads with precision and reliability.

Designed to seamlessly scale with your business, FinScan serves as your strategic partner for global expansion or adaptation to localized regulatory landscapes. Choose between our strategically located data centers—United States, Canada, Brazil, Germany, Singapore, or Australia—or opt for an on-premise installation to provide full control and adaptability to meet specific screening requirements.

With FinScan, you’re not just investing in a screening solution; you’re investing in a tool that evolves with your business, ensuring seamless compliance with local regulations and providing peace of mind in every screening endeavor.

Trusted Partner

In AML compliance, finding a reliable partner can prove challenging. At FinScan, our core strength lies in our commitment to exceed your expectations. We don’t merely offer an industry-leading solution; we provide a comprehensive ecosystem meticulously designed to meet and surpass your specific requirements.

With FinScan by your side, you gain access to a team of experts in data quality, AML screening technology, and AML regulations. We have over two decades of experience implementing FinScan across diverse industries including banking, insurance, gaming, healthcare, payments, technology, and non-profits, among others. We possess an in-depth understanding of the unique nuances of each industry and a demonstrated history of delivering value.

We have successfully managed a spectrum of complex implementations from on-premises, including mainframe, to cloud-based environments depending on our customers’ scalability, cost, security, and data privacy requirements, as well as national and regional regulations. Our highly experienced consultants work to develop a flexible deployment strategy that fits your current and future needs.

As your trusted partner, we prepare your data, implement a robust screening solution, and offer regulatory insights. With FinScan, you have the strength of an industry recognized solution and an ally that listens to your feedback, regularly releases software updates, and ensures you stay productive and ahead of the regulatory curve.

Choosing FinScan ensures that you are not alone in navigating the complex landscape of compliance. Our team of experts becomes an extension of yours, offering support and guidance in the ever-changing world of compliance. With FinScan, you can rest assured that you have a reliable partner dedicated to making you and your team successful.

Responsive Support

At FinScan, one of our key strengths is our unparalleled, responsive support. We go the extra mile to ensure your queries are addressed promptly. Recognizing the pivotal role compliance departments play in organizations, we stand by our customers whenever they need assistance.

FinScan takes pride in its support team that is easily accessible, well-versed in your accounts, and deeply knowledgeable about our technology. Our customer success teams in the United States, United Kingdom, Mexico, and Dubai operate seamlessly to provide 24/7 support, ensuring assistance is just a call or message away. Moreover, our multilingual support team is fluent in English, Spanish, French, and Arabic, ensuring effective communication and understanding across diverse global contexts.

We understand that compliance is mission-critical, and in crucial moments, our clients require more than web documentation, generic call center interactions, or automated responses. We provide compliance teams with a personal connection and a human touch, take the time to understand their unique challenges, and swiftly resolve their concerns. At FinScan, our team takes pride in being approachable, responsive, and knowledgeable.

Choosing FinScan means selecting a partner with a responsive support team that stands ready to surround you with expertise and assistance, whenever and wherever you are. Gone are the days of uncertainty and frustration. With FinScan, you embark on a journey where support isn’t just a service; it’s an experience tailored for you.