Boston, August 5, 2015 – The price of lax watch-list filtering can include multibillion-dollar fines, such as the US$8.97 billion penalty assessed against BNP Paribas in June 2014 for violating U.S. sanctions, not to mention reputational damage. These repercussions highlight the high stakes for institutions and the importance of effective watch-list filtering technology. What should institutions seek in the solutions that are required to accurately and efficiently perform watch-list filtering?
This report is based on 2014 and 2015 interviews with anti-money laundering executives at financial services firms. It evaluates seven watch-list filtering vendors: Accuity, CGI, Equifax, FircoSoft, LexisNexis Risk Solutions, SBS, and Temenos. It is the second in a three-part series on enterprise risk management technology—the first report is available here.
This 32-page Impact Report contains five figures and 14 tables. Clients of Aite Group’s Wealth Management, Wholesale Banking & Payments, Retail Banking & Payments, or P&C Insurance services can download this report.