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FinovateFall 2024 Sneak Peek Series: Part 1

Finovate

Verify consolidates essential checks like KYC and OFAC, simplifying compliance, reducing risk, and enhancing efficiency. GenRPT GenRPT is an AI-driven insights and reporting platform that allows users to generate visual reports from databases in plain English, supporting SQL, Excel, PDF, CSV formats, and more.

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ID-Pal Forges Strategic Partnership with CLOWD9

Finovate

Using a combination of document, database, and biometrics checks, ID-Pal enables businesses to verify the identity of their customers in real-time. ID-Pal also streamlines OFAC, AML, and KYC processes into a single compliant workflow to ensure a comprehensive audit trail.

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Know Your Customer as Well as They Know You

Trade Credit & Liquidity Management

The Office of Foreign Assets Control (OFAC) and DOJ Anti-Money Laundering (AML) also provide KYC compliance guidelines of which you should be aware. Obtain and review information from reporting agencies or relevant public databases. Routinely reference OFAC country, company, and individual embargo listings.

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Tipalti Takes Down Fraudsters With New Detect Module

PYMNTS

Israch explained the module looks for patterns across the supplier database, analyzing factors such as tax data, contact information and IP address, among other elements. The only exceptions are high-risk Office of Foreign Assets Control (OFAC) hits.

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Socure and Proof Partner to Fight Fraud in Authorizations, Contracts, and Forms

Finovate

The solution gives financial institutions the ability to screen, monitor, and assess new and existing customers against the Office of Foreign Assets Control (OFAC) sanction lists and politically exposed persons (PEP) databases, adverse media, and custom watchlists. Socure began the year announcing a pair of new partnerships.

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Bridging Banking Gaps For Cannabis Companies

PYMNTS

He said that Green Check offers a proprietary Compliance Rules Engine (CRE) that runs each transaction through a database of rules drawn from the existing federal guidance and state statutes and regulations that govern their cannabis programs.

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Payment Screening: What Is It, How It Works and Its Importance

Seon

It involves comparing the details of a transaction against various sanctions lists, watchlists and other databases of high-risk entities before the transaction is completed. This process is essential for maintaining compliance in an increasingly regulated financial landscape. How Does the Payment Screening Process Work?