Claire Rees 17 Feb 23 3 min read

Does your AML Compliance solution make customer screening more efficient?

We’ve been supporting reporting entities in multiple sectors around the globe for the better part of a decade and from our experience customers turn to Jade ThirdEye because they are losing valuable time wading through customer screening alert results that just aren’t relevant. In addition, they often complain of a lack of flexibility in their existing systems to quickly and easily remove or add sanctions lists from their screening programme to react quickly to changes.

We believe AML tools should help make compliance simple and efficient. Financial organisations should be able to easily select and filter watchlists from Dow Jones or Refinitiv World-Check appropriate to their risk profile, so screening alerts are relevant and time is not lost processing alerts that fall outside of compliance jurisdictions or areas of risk.

The ability to quickly and easily configure customer screening has also proved an essential requirement for our Jade ThirdEye users, most recently for ongoing changes in Sanctions Regimes as a result of the Russia/Ukraine conflict.

Jade ThirdEye was developed and is continually evolving to make AML compliance as simple and efficient as possible for AML professionals all over the globe. Users can easily achieve the following through the settings in Jade ThirdEye:

  • Configure watchlist screening in line with their organisation’s risk profile
  • Define the scope of customer screening, how often it takes place and which lists they are screened against
  • Establish minimum thresholds for which a match against a watchlist candidate is returned
  • Quickly add new sanctions lists or remove sanctions lists that are no longer relevant
  • Avoid repeat alerts for matches that have already been reviewed
  • Screen customers daily against watchlist updates to identify any candidates that have been newly added

Not only does Jade ThirdEye offer the flexibility for organisations to configure customer screening and automated transaction monitoring rules without having to rely on an external provider it also addresses two critical aspects of their AML/CFT programme in one solution. Find out more about how this works here.