Busway has launched its next-generation platform to support organisations in meeting regulatory requirements with speed and efficiency.
The product features built-in automation that simplifies customer onboarding, risk management, and continuous monitoring across the compliance process. As FIs require AML solutions to support ever-evolving regulatory frameworks, including EU AMLD recommendations, Busway’s KYC Screening portal serves as a tool for ongoing regulatory updates and cross-border compliance requests to support organisations in aligning with current obligations.
Automated onboarding, risk assessment, and scalable compliance
Secure AML screening can only happen when the underlying data is assessed accurately. Busway’s World-Risk Database consolidates data from a broad range of authoritative sources, such as OFAC, United Nations sanctions lists, European Union sanctions, HM Treasury, DFAT, OSFI, PEP registries, FBI, INTERPOL, EUROPOL, World Bank, FATF, FCA, IOSCO, global adverse media sources, and others.
The KYC e-screening solution offers advanced methodologies supported by machine learning and AI-powered analysis, evaluating potential matches using logic, phonetic comparison, contextual indicators, and weighted risk scoring, rather than relying on exact-match screening. This supports higher trust in identifying relevant risk alerts, thus making the process more efficient and reliable.
Utilising KYC e-screening, organisations can leverage its ability to scale with growth, as the platform is designed to support increasing volumes of data, entity checks, and API usage without measurable performance degradation. This allows users to expand compliance operations as transaction volumes and compliance expectations evolve.
Additionally, the platform brings forth improved integration capabilities. The World-Risk Database integrates with common CRMs, core banking systems, and digital onboarding platforms, reducing reliance on manual data handling and supporting more efficient workflows across systems while lowering the possibility of operational errors.
Its structured interface supports navigation, alert management, reporting, and case investigation, while its built-in insight tools and resources are available to help compliance teams adopt the system fast. The platform also delivers continuous monitoring of customer profiles and transaction activity to allow teams to respond to emerging risks as customer circumstances change.
