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Automated, real-time sanctions screening solution

Money laundering, cyber crime and terrorist activities are growing threats to financial institutions. Sanctioned entities continue to deploy more sophisticated strategies to avoid detection, organized financial crime continues to rise, and the volume of transactions is increasing relentlessly.

To advance their own strategies for detecting the illegal movement of money, banks face significant challenges, including more stringent regulatory requirements, the risk of larger, higher-profile fines for non-compliance, multiple sanction lists in various languages, and inefficiencies in payment filtering operations.

These regulatory and operational issues are further impacted by a new payments landscape in which mobile, contactless and person-to-person payments have all made strong traction in recent years.

CGI’s HotScan ISL sanctions screening solution provides a centralized, highly scalable and robust infrastructure that automates transaction filtering and customer scanning in real time with industry-leading accuracy.

Its screening technology can be tailored to your specific regulatory and organizational requirements to enable you to scrutinize cross-border and domestic transactions, filter structured and unstructured messages, provide online inquiry and batch filtering of names, addresses and other biographical details, and support account opening and Know Your Customer (KYC) procedures.

HotScan’s intelligent self-learning (ISL) algorithms also review the output of your filtering system to determine who is a true offender and who is not. Thereby reducing costs by helping to increase efficiency (up to 50%) without the need to widen the net.

HotScan ISL competitive advantages

With HotScan ISL, banks can achieve the following:

  • Increase productivity by reducing manual intervention and eliminating processing interruptions
  • Minimise operational risk by achieving a balance between checking blocked accounts and maintaining continual transaction processing
  • Carry out risk assessments against terrorist lists, sanctioned entities, politically exposed people and other risk groups
  • Reduce false positive alerts by as much as 50% without impacting the level of filtering diligence and accuracy, resulting in fewer potential hits to be manually checked, more effective compliance operations, and significant cost savings.

HotScan ISL is backed by CGI’s 20+ years of experience in delivering effective financial crime solutions and unrivalled cost efficiencies. We have more than 500 compliance and security experts with in-depth knowledge of the complex regulatory landscape who are supporting organizations around the world to fight financial crime.