FinTechAutomationPayCommerce, Dow Jones partner on sanctions screening

PayCommerce, Dow Jones partner on sanctions screening

The union will allow users screen payments to ensure compliance with anti- money laundering and other regulations.

Cross-border payments network PayCommerce is partnering with Dow Jones, to utilise the business information group’s risk and compliance data. PayCommerce customers and members will be able to screen cross-border payments to ensure effective anti-money laundering (AML), know your customer (KYC) and counter-terrorist financing (CTF) compliance in addition to increased country coverage.

The group’s enterprise customers include seven of the top global banks, 11 of the top 50 US banks, 14 global Fortune 500 firms and eight US Fortune 500 companies. Additionally, the PayCommerce platform has processed over US$400bn, consisting of over 300m transactions in the past 12 months.

Gareth Lodge, a senior analyst for Celent, commented: “As the cross-border payments space heats up, the focus will move to the broader offering, with risk management in the form of best-of-breed global compliance and reporting solutions high on the agenda.”

Related Articles

Digitization of Indian Corporate Treasuries

Automation Digitization of Indian Corporate Treasuries

3w IBSFINtech
Using technology to optimise multi-currency management

Automation Using technology to optimise multi-currency management

4w Anthony Wood
Innovating the treasury back office

Automation Innovating the treasury back office

1m Brad Garfield
Video: ‘Most’ finance teams are not ready for RPA and AI

Automation Video: ‘Most’ finance teams are not ready for RPA and AI

2m Tom Lemmon
Why failing to implement AI and ML in credit management could be a costly mistake

Automation Why failing to implement AI and ML in credit management could be a costly mistake

2m Marieke Saeij
Pushing the limits of technology to deliver more for treasury customers

Automation Pushing the limits of technology to deliver more for treasury customers

2m Austin Clark
Treasury technology "approaching its watershed moment"

Automation Treasury technology "approaching its watershed moment"

3m Austin Clark
Cloud computing the most important technology for treasurers

Automation Cloud computing the most important technology for treasurers

3m Jay Ashar

Whitepapers & Resources

Transaction Banking Survey 2019

Transaction Banking Survey 2019

4m
TIS Sanction Screening Survey Report

Payments TIS Sanction Screening Survey Report

6m
Enhancing your strategic position: Digitalization in Treasury

Payments Enhancing your strategic position: Digitalization in Treasury

8m
Netting: An Immersive Guide to Global Reconciliation

Netting: An Immersive Guide to Global Reconciliation

11m