Financial Crime Compliance Insights


Screena earns SOC 2 certification

Screena is proud to announce it has successfully completed the System and Organization Controls (SOC) 2 Type II examination in recognition of its commitment to information security. Developed by the American Institute of CPAs (AICPA), SOC 2 (System and Organization Controls) defines criteria for managing customer data based on five “trust service principles” — security, availability, processing integrity, confidentiality, and privacy.

July 10, 2023

Developer Guide to Transaction Screening (with Code Samples) – Part 2

In a global context of heightened market competition, growing coordinated sanctions and complex regulatory developments, financial institutions and their payment businesses are undergoing a wave of rapid changes and massive transformations. Fighting financial crime effectively and efficiently has become ever more critical. ISO 20022 – the new gold standard for payment messaging – brings the promise of increased transparency, compliance and security, with the opportunity to deliver new services, better and faster. What makes that possible?
June 5, 2022

Discovering Screena: Frequently Asked Questions

When people ask us: "what is Screena?", we usually answer it is a next-generation AI-driven SaaS screening API to accurately match, search and resolve named entities across datasets – at speed and at scale. For instance, financial services firms use Screena to screen their counterparties against large regulatory watchlists to meet their Know-Your-Customer (KYC) and Anti-Money Laundering (AML) obligations. Likewise, payment service providers integrate Screena into their payment platforms to ensure sanctions compliance when processing cross-border transactions. But this doesn't tell much about how Screena works. So we have gathered a list of frequently asked questions to know more about Screena's capabilities and find out how different Screena is from other watchlist screening solutions.
May 4, 2022

Developer Guide to Transaction Screening (with Code Samples) – Part 1

Enabling instant and frictionless transactions, anywhere in the world, has become mission-critical for all participants in the financial services industry. With the gradual adoption of new payment standards such as ISO 20022 replacing unstructured formats, it can be hard to design a robust and efficient transaction screening strategy that caters to the various use cases payment service providers have to embrace.
April 23, 2022

ThetaRay Chooses Screena as Sanctions List Screening Solutions Partner

Best-of-breed AI-based providers collaborate to deliver an integrated SaaS solution for the fintech market.
April 3, 2022

2 Common Methods for Screening Financial Institutions

As a consequence of the recent coordinated decision made by the European Union, the US, the UK and allies to revoke the access of many Russian banks to SWIFT, firms need to ensure effective screening of counterparty banks subject to sanctions.
March 2, 2022

Screena v2.1 is out!

Narratives. Geolocation. Digital currencies. And more. We are releasing today an important update that ships with all the elements to help our clients sharpen their transaction screening strategy and get ready with the future-proof ISO 20022 standard. Let’s have a look at what’s new in the latest release 2.1!
January 28, 2022
AI & Digitalization

Growth of Digital Neobanks and AML

Neobanks have grown to become a part of our daily lives. The concept of Neobanks, which has a key place in Fintech trends, continues to gain more recognition and adoption by an increasing number of customers globally. In this post, we look at Neobanks, their advantages, and their AML and CTF compliance.
January 11, 2022
AI & Digitalization

Unraveling the Cheap Manual KYC Myth

Keeping corporate costs down is one of the key priorities of CFOs and finance teams in general. Notably, one area where CFOs strive to cut down costs on is compliance. In the pre-digital age, KYC and other compliance procedures were done manually and were difficult to enforce.
December 2, 2021
Financial Crime

2021 KYC and AML Trends

Changes that emerged in AML and KYC compliance during the challenging and unpredictable 2020 have further evolved in 2021. These changes have affected the way people work and the tools they use daily, and more importantly, the approach that financial regulators now have regarding new technologies and procedures. Here are some of the key AML and KYC compliance trends we have seen so far in 2021.
October 12, 2021