How banks can improve sanction screening and cut costs
In the fight to keep funds out of the hands of terrorists and other sanctioned groups, financial institutions need to have effective and efficient sanction screening to help maximize protection and minimize impact on the business. Financial institutions must screen all transactions to root out criminal activity. Unfortunately, traditional screening solutions are not good enough in today’s digital world and demanding regulatory climate. The stakes are too high to trust outdated technology and traditional screening approaches.
Help is here in the form of cloud technology and a solution from Temenos. Temenos Screen, built on Microsoft cloud technology, modernizes the sanction screening process to help enhance protection and reduce cost.
Temenos Screen offers real-time processing and detection engines that are precise, fast, easy to configure and simple to use. Screen has tools and features that evolve with every item screened to help ensure banks can prevent terrorism and criminal financing. Besides having the lowest rate of false positive alerts in the industry, Screen also helps cut costs with accurate algorithms. Its intuitive alert management capabilities and seamless integration with multiple systems help streamline operations.
Banks that use Screen can review more hits per day while cutting total cost of ownership with a sanction screening solution built on a compliant, secured cloud.
To experience these benefits, try Temenos Screen on AppSource today.