Bottomline Watchlist Screening

Ever-changing Regulatory Landscape

Financial Institutions and Corporates firms have a growing ethical and legal obligation to comply with fast moving international AML/CTF regulations. Failure to do so can result in heavy fines, suspensions or even imprisonment. The increasing burden and impact of regulatory change is shown with the European Union’s Sixth Anti-Money Laundering Directive - 6AMLD, which came into effect for member states on December 3rd, 2020, and had to be implemented by financial institutions by June 3rd 2021.

The focus of the 6AMLD is to provide a clear definition of what constitutes a “money-laundering” offence, aligning member states, while also increasing penalties and imprisonment for natural persons and the criminal liability for legal persons (i.e. companies). Financial Institutions and Corporates are continually balancing budgets against increasing compliance costs, ensuring that they are always up to date with regulatory changes, and compliance risks are mitigated. The adoption of the “right technology” partner to implement a risk-based approach is critical for a business, enabling successful implementation and embedding of internal controls to manage and mitigate AML/CTF risks.

Regulatory Compliance

Money Laundering and Terrorist Finance of Transfers Regulation 2017

EU Anti-Money Laundering Directives: 4AMLD, 5AMLD, 6AMLD

Monetary Authority of Singapore

Policing and Crime Act 2017

Proceeds of Crime Act 2002

Financial Action Task Force (FATF) Recommendations

US Patriot Act

Product Capabilities

REAL-TIME SANCTIONS SCREENING OF TRANSACTIONS

Bottomline Watchlist Screening provides the ability to screen transactions in real-time, against official sanction lists and the organization’s internal lists, enabling fast and effective remediation before payments are processed and executed.

SCREEN CUSTOMERS AGAINST SANCTIONS, PEPS, RCAS AND ADVERSE MEDIA Organizations need to screen customers against watchlists to ensure AML/CTF compliance with local and international regulations. The Watchlist Screening solution provides global coverage of official sanctions published by regulatory bodies such as EU, HMT, OFAC, OFSI and UN.

SCREEN ALL PAYMENTS INSTRUCTIONS

Watchlist Screening offers a single platform for screening multiple payment types such as ISO20022, SWIFT, SEPA, SIC4, Bacs, Checks and Faster Payments. Enabling institutions to remain competitive by offering the broadest range of transaction types.

FAST, UP TO DATE PROTECTION

Bottomline Watchlist Screening enables ad-hoc AML/ CTF investigations and overnight batch screening of customers. Whenever a sanction list is updated, the solution automatically adds any new entity (individual person or company) to the watchlist database, ensuring superior protection and responsiveness to new threats and risks.

Business Advantages

The solution offers the following unique benefits and protection:

Cloud-Native SaaS Solution

Automatic, frequent updates to the latest AML/CTF lists

No deployment or maintenance required – low Total Cost of Ownership

Continuous updates with new features

Intelligent Matching

Smart, context-sensitive matching yielding low false positives

Multiple matching strategies are applied for more accurate scoring

Easily add false hits to the exclusion list to reduce future false positives

User-Centered Design

State-of-the-art, simple and easy to use solution

Quick ramp-up, no training needed

Streamlined and optimized processes to improve productivity

Integration with Payment Solutions

Out-of-the-Box Integration with Swift Alliance Access and Bottomline GTExchange

Various message types supported including ISO20022

Open API endpoints provide seamless integration