In an era where financial crimes are becoming increasingly sophisticated, staying ahead of AML compliance requirements is more challenging than ever. With heightened regulations, designated non-financial businesses and professions (DNFBPs) are obligated to have a strong AML compliance framework in place. This creates a challenge to find a solution that is easy, cost-effective, and user-friendly for these businesses.

To address this challenge, Finch Innovate introduced FinchSCAN, which is a SaaS-based name screening portal, revolutionizing the way organizations handle AML screening with its key features combined within one unique portal.  

Key Features of FinchSCAN

• AI-Powered Name Screening
• Multi-Language Screening
• Ongoing Monitoring
• goAML Reporting
• Flexible Subscription Plans
• User-Friendly Dashboard

AI-Powered Name Screening:

FinchSCAN offers an innovative name screening portal to screen individuals and corporates, utilizing proprietary Finch.ai’s technology to streamline AML compliance tasks and enhance the user experience. Finch.ai improves the accuracy of name matches by reducing false positives. FinchSCAN streamlines the screening process, improving result quality and reducing the need for manual intervention.

Multi-Language Screening:

Multi-language screening is a feature that enables users to input names in various foreign languages, which are then converted to their English variations and screened against their selected sanctions lists. This feature is particularly important because most of the global sanctions lists are in English, and users may need to input names in languages other than English to do the name screening. This process allows thorough name screening across different languages, improving the effectiveness of your AML compliance processes.

Ongoing Monitoring:

Ongoing monitoring in FinchSCAN helps by screening your customer database against your selected lists every week. This feature improves the timelines for detecting new risks from changes in the status of your onboarded customers and provides timely alerts for any flagged names.

goAML Reporting:

Complying with the goAML reporting requirements of your country can be complex and time-consuming. FinchSCAN makes this process easier with the automated generation of goAML reports in the portal. This feature allows you to select the specific reports you need and determine their quantity.

Flexible Subscription Plans:

Understanding that every business has unique needs, FinchSCAN offers flexible subscription plans, designed to help you meet the specific AML requirements of your business.

To check out our plans in detail, please click here.

User-Friendly Dashboard:

The User-Friendly Dashboard in the FinchSCAN portal is designed with ease of use in mind. It provides a clear overview of your plan features and tasks, with easy access to detailed reports and analytics. This empowers the user or compliance officer to make informed decisions quickly and efficiently.

FinchSCAN is designed to provide businesses with a cost-effective and user-friendly solution, enabling organizations to meet regulatory requirements with efficiency. Whether you are a small business, a growing enterprise or a DNFBP, FinchSCAN makes AML compliance easier to manage, making it both scalable and manageable.

Explore FinchSCAN and see how it can streamline your AML screening processes, because ‘AML screening made easy’ with FinchSCAN.