Sanction Scanner, a leading artificial intelligence-supported compliance software company, has recently been honored with a prestigious Silver award at the Sardis Awards. This recognition was bestowed for its groundbreaking product, the 360° Customer Risk Assessment, in the Artificial Intelligence Category under the Innovative Use of Technology Section.
The recognition at the Sardis Awards highlights Sanction Scanner's commitment to innovation and excellence in the RegTech field. Serving over 500 companies across more than 40 countries, Sanction Scanner has established itself as a pivotal player in the fight against financial crimes, providing tools that are not only effective but also user-friendly and highly adaptable to various regulatory environments.
Innovative Features of 360° Customer Risk Assessment
Sanction Scanner's 360° Customer Risk Assessment stands out due to its comprehensive approach to monitoring and analyzing risks associated with money laundering and terrorist financing. This product is part of Sanction Scanner's suite of tools designed to enhance the capabilities of financial institutions in maintaining rigorous compliance with regulations.
- Rich Database and Continuous Monitoring: At the core of the product is a robust AML database that screens customers against over 3000 sanction lists, watchlists, and PEP lists from more than 220 countries. This ensures thorough vetting of customers before onboarding and continuous monitoring to capture any risk-relevant changes in their status.
- Automated Daily Ongoing Monitoring: The tool offers customizable monitoring frequencies, allowing institutions to set daily, weekly, or periodic scans based on the risk profiles of their customers. This feature is crucial for adapting to the dynamic nature of financial threats and regulatory requirements.
- Payment Screening and Transaction Monitoring: With state-of-the-art transaction monitoring, the Sanction Scanner provides real-time analysis and halts suspicious transactions instantly. Its payment screening feature reduces false positives significantly, ensuring efficient transaction processing without compromising security.
- Developer Portal and API Integration: Sanction Scanner facilitates seamless integration of its AML solutions into existing systems through a well-documented developer portal. This includes sample code, SDKs, and a sandbox environment for testing, which simplifies the implementation process and enhances operational efficiency.
- Customized Risk Management: The platform allows for the creation of tailored detection scenarios and risk profiles, enabling businesses to align their AML strategies with specific industry needs and customer behaviors. This customization extends to the management of alerts and the ongoing assessment of risk levels.
This award underscores the effectiveness and innovative approach of Sanction Scanner's 360° Customer Risk Assessment tool in leveraging artificial intelligence to enhance financial security and compliance strategies globally.
