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

Infographic: Turning automation investment from cost play to growth strategy

Automation Infographic: Turning automation investment from cost play to growth strategy

20h Austin Clark
Digital guarantee management with TIP at Deutsche Telekom

Automation Digital guarantee management with TIP at Deutsche Telekom

1w The Global Treasurer
Enhancing treasury through digital transformation

Automation Enhancing treasury through digital transformation

1w Austin Clark
Successful tech adoption requires give and take

Automation Successful tech adoption requires give and take

1w Austin Clark
Treasury needs to ‘keep up in the digital skills race’

Automation Treasury needs to ‘keep up in the digital skills race’

2w Austin Clark
Digitisation is the first step to transforming corporate treasury

Automation Digitisation is the first step to transforming corporate treasury

2w Austin Clark
Is treasury missing the artificial intelligence opportunity?

Automation Is treasury missing the artificial intelligence opportunity?

1m Austin Clark
Treasury departments 'slow to adopt fintech from non-traditional vendors'

Automation Treasury departments 'slow to adopt fintech from non-traditional vendors'

1m Austin Clark