Roadmap SWIFT Compliance Services
SWIFT Compliance Services Roadmap - Julien Laurent
Jul 14, 2015
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Roadmap
SWIFT Compliance Services
A community issue calling for a community
solution …
Financial crime is top of the
agenda for banks
All geographies / All types
of players impacted
Significant costs
at stake….
... Yet no competitive
advantage for banks
Lots of duplication…
for universal challenges
Financial Crime Compliance Roadmap
Standards
Data repositories
Traffic analysis
Quality assurance
Processing services
Sanctions KYC AML
Sanctions Screening
Live Development Qualification Exploration
Swift Sanction Screening
Copy option Connector option Your institution Your correspondent
1
2
3
Your institution Your correspondent
1 2
3
Limitations
Flexibility
Footprint
Timeframe
Transactions
Screened
Granularity
on what is filtered
Installation &
integration
Time to
compliance
FIN Cat 1, 2, 4, 7
Limited
Zero
Few weeks
All transaction types
Enhanced
Limited
Few Months
Financial Crime Compliance Roadmap
Standards
Data repositories
Traffic analysis
Quality assurance
Processing services
Sanctions KYC AML
Sanctions Testing
(testing / tuning of transaction & client systems)
Sanctions Screening Traffic Restriction (RMA)
Live Development Qualification Exploration
Formats
Settings
Lists
Automate • Repeat • Compare • Monitor
Sanctions Testing process
Define
test objective
Download
test files
Process
test files
Upload
hit results
View
test results
Financial Crime Compliance Roadmap
Standards
Data repositories
Traffic analysis
Quality assurance
Processing services
Sanctions KYC AML
KYC Registry
Compliance Analytics
Sanctions Testing
(testing / tuning of transaction & client systems)
Sanctions Screening Traffic Restriction (RMA)
Live Development Qualification Exploration
The 5 founding principles to the KYC Registry
CDD & EDD data
FATCA
MIFID
95+ data items
30+ Docs
Standardised KYC data set: 5 categories of information:
1. ID of customer,
2. Ownership and management structure,
3. Type of business and client base,
4. Compliance information,
5. Tax Information
Feature-rich platform 1. User-controlled access,
2. Portfolio & task Management,
3. Export, report and audit
Data validation
Transparency and validation
Unique value-added content
Know your customer’s customers
Community-led engagement
Financial Crime Compliance Roadmap
Standards
Data repositories
Traffic analysis
Quality assurance
Processing services
Sanctions KYC AML
Sanctions list
management service
KYC Registry
Compliance Analytics
Sanctions Testing
(testing / tuning of transaction & client systems) AML testing & tuning
FATF 16 information quality
Client/Name screening
Sanctions Screening Traffic Restriction (RMA)
Live Development Qualification Exploration
?
Roadmap
SWIFT Compliance Services
A community issue calling for a community
solution …
Financial crime is top of the
agenda for banks
All geographies / All types
of players impacted
Significant costs
at stake….
... Yet no competitive
advantage for banks
Lots of duplication…
for universal challenges
Financial Crime Compliance Roadmap
Standards
Data repositories
Traffic analysis
Quality assurance
Processing services
Sanctions KYC AML
Sanctions Screening
Live Development Qualification Exploration
Swift Sanction Screening
Copy option Connector option Your institution Your correspondent
1
2
3
Your institution Your correspondent
1 2
3
Limitations
Flexibility
Footprint
Timeframe
Transactions
Screened
Granularity
on what is filtered
Installation &
integration
Time to
compliance
FIN Cat 1, 2, 4, 7
Limited
Zero
Few weeks
All transaction types
Enhanced
Limited
Few Months
Financial Crime Compliance Roadmap
Standards
Data repositories
Traffic analysis
Quality assurance
Processing services
Sanctions KYC AML
Sanctions Testing
(testing / tuning of transaction & client systems)
Sanctions Screening Traffic Restriction (RMA)
Live Development Qualification Exploration
Formats
Settings
Lists
Automate • Repeat • Compare • Monitor
Sanctions Testing process
Define
test objective
Download
test files
Process
test files
Upload
hit results
View
test results
Financial Crime Compliance Roadmap
Standards
Data repositories
Traffic analysis
Quality assurance
Processing services
Sanctions KYC AML
KYC Registry
Compliance Analytics
Sanctions Testing
(testing / tuning of transaction & client systems)
Sanctions Screening Traffic Restriction (RMA)
Live Development Qualification Exploration
The 5 founding principles to the KYC Registry
CDD & EDD data
FATCA
MIFID
95+ data items
30+ Docs
Standardised KYC data set: 5 categories of information:
1. ID of customer,
2. Ownership and management structure,
3. Type of business and client base,
4. Compliance information,
5. Tax Information
Feature-rich platform 1. User-controlled access,
2. Portfolio & task Management,
3. Export, report and audit
Data validation
Transparency and validation
Unique value-added content
Know your customer’s customers
Community-led engagement
Financial Crime Compliance Roadmap
Standards
Data repositories
Traffic analysis
Quality assurance
Processing services
Sanctions KYC AML
Sanctions list
management service
KYC Registry
Compliance Analytics
Sanctions Testing
(testing / tuning of transaction & client systems) AML testing & tuning
FATF 16 information quality
Client/Name screening
Sanctions Screening Traffic Restriction (RMA)
Live Development Qualification Exploration
?
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