More NewsSWIFT Selects Sword FircoSoft to Support Sanctions Screening Service

SWIFT Selects Sword FircoSoft to Support Sanctions Screening Service

SWIFT, a financial messaging consortium, has selected Sword FircoSoft to provide components of its new centralised sanctions screening service. Sanctions screening over SWIFT will combine Sword FircoSoft’s filtering application and list update service with the security and resilience of SWIFT, to provide a comprehensive and centralised screening service for small and medium-sized financial institutions in need of a quick, easy and cost-effective route to compliance with sanctions regulation.

Users of the service will be able to request selected SWIFT FIN messages be routed to the centralised screening application, where they will be filtered in real time, and checked against customers’ selected sanctions lists. If there is no match to the sanctions list, the message will be delivered as usual. If there is a match, customers will be asked to instruct SWIFT as to whether to release, abort or flag the message via an alert management system.

The new service is scheduled to go live in late 2011.

Related Articles

Infosys Finacle to power Santander UK’s international cash management system

More News Infosys Finacle to power Santander UK’s international cash management system

3w The Global Treasurer
Preparing for GDPR? Here’s four things to consider

More News Preparing for GDPR? Here’s four things to consider

4m Elliott Wiseman
Cash flow in focus for investors

Cash Management Cash flow in focus for investors

5m Conor Deegan
Treasury TV: Karen Pugsley, Domino's Pizza Group

More News Treasury TV: Karen Pugsley, Domino's Pizza Group

5m Victoria Beckett
Treasury TV: Yeng Butler compares US and European MMF reforms

Compliance Treasury TV: Yeng Butler compares US and European MMF reforms

5m Victoria Beckett
Treasury TV: Tim de Knegt, The Port of Rotterdam

10 Minutes With The Treasury Treasury TV: Tim de Knegt, The Port of Rotterdam

5m Victoria Beckett
Banks are selling clients short with short dated cash deposit U-turns

Banking Banks are selling clients short with short dated cash deposit U-turns

5m Victoria Beckett
What does sterling’s Brexit boost mean for UK manufacturers?

More News What does sterling’s Brexit boost mean for UK manufacturers?

6m Tasja Botha