AML compliance solutions provider FinScan has announced that its AML software services will integrate with LSEG World-Check On Demand.
Following this announcement, FinScan will incorporate and support the LSEG World-Check On Demand, as the company represents one of the first LSEG partners to announce the support of the solution.
In addition, FinScan and World-Check On Demand customers will have the possibility to benefit from timely, secure, and actionable intelligence in order to optimise the manner in which they manage their risk and ultimately screen customers and process payments faster. World-Check On Demand will continue to deliver precise, continuously updated real-time risk intelligence, aiming to ensure that organisations and institutions have instant access to accurate and relevant data across sanctions, PEPs, adverse media, and enforcement actions.
More information on FinScan’s integration with LSEG World-Check On Demand
According to the official press release, financial crime is constantly evolving through the process of leveraging technology that makes it harder to identify criminal activity. According to the UN Office on Drugs and Crime, this situation costs the global economy up to USD 2 trillion annually.
With this in mind, the process of navigating a new era of risk and compliance requires a lot more than just data. According to officials of the company, World-Check On Demand is set to deliver optimised benefits, as well as enable clients and partners to act faster and smarter against fraud and fraudsters, aiming to optimise the overall customer protection by stopping financial crime and keeping their data and experience secure.
FinScan’s integration will also support LSEG’s real-time risk intelligence initiative, which was developed for a faster and more efficient protection strategy. Both institutions are expected to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
