Accuity

Innovative solutions for payments and compliance, from comprehensive data and software that manage risk and compliance, to flexible tools that optimize payments pathways. With expertise and solutions from the Fircosoft, Bankers Almanac, and NRS brands, our portfolio protects individual and organizational reputations.

Company Insights

/images/news/77520.jpg
Sanctions compliance: a fresh warning for the air cargo industry

29th May 2018

Recent news that a Maersk company carried arms components from North Korea to Egypt - in violation of international sanctions - acts as a fresh warning for those facilitating global trade to be diligent in monitoring and reporting suspicious activity. The transportation of electrical components by a Maersk subsidiary, which had the potential to be...
/images/news/77335.jpg
How tighter compliance can boost the reputation and value of ICOs

16th April 2018

In 2017 Initial Coin Offerings (ICOs) became the hottest new tool for startups, and transitioned from being a relatively unknown fundraising method used in the blockchain community, to raising over $4bn by the end of the year. Just like Kickstarter or Go Fund Me, ICOs let entrepreneurs take their business plans directly to non-accredited (any...
/images/news/77289.jpg
How banks should monitor suspicious shipping activity

9th April 2018

A number of news stories in 2017 detailed the radical methods being employed to evade sanctions controls, for example, through the transfer of commodities from ship-to-ship in international waters to avoid a vessel entering a sanctioned territory. This trend appears to have continued into 2018, with a recent case emerging in which a ship-to-ship...
/images/news/71271.jpg
PSD2: Another painful compliance exercise or an opportunity?

19th September 2016

The European Commission’s revised Payment Services Directive (PSD2) will bring about one of the biggest changes that the banking sector has ever faced. However, as the Commission has indicated this is not a change being dictated by banks; it is a reaction to the ongoing disruption of payments in the digital age. In the words of the...
/images/news/66992.jpg
SEPA: Laying the Groundwork for Standards and Achieving Efficiencies

2nd October 2015

SEPA instituted some real game changers in the payments world. The IBAN and ISO 20022 XML standards, for example, promote efficiencies in streamlining payment processing. Using an IBAN as the account number standard allows both payment service providers (PSPs) and payment service users (PSUs) to avoid errors that can occur with data input. All...
/images/news/66991.jpg
Trade Finance – Imports and Exports really are Risky Business

1st October 2015

Trade Finance can be described in its broadest terms as providing finance and related banking services to facilitate the movement of goods between the Exporter (seller) and Importer (buyer) in either the same country, or as a cross border transaction. The trade finance industry has recently come under the scrutiny of regulatory bodies worldwide...
/images/news/59488.jpg
The SEPA extension - What it means in practical terms

14th February 2014

It all started on 9 January 2014 when the European Commission (EC) recommended that the single euro payments area (SEPA) end date be extended beyond the original 1 February 2014 migration deadline; a date that had resisted being extended since it was defined back in February 2012, says Sarkis Akmakjian, director of payments market management at...
Growth in regulations increases burdens in payment operations
Growth in regulations increases burdens in payment operations

10th November 2011

By Joel Lange, payments product managerSince the emergence of software systems to screen payment messages against sanctions lists in the 1990’s there has been a constant struggle between ensuring compliance with global sanctions regimes as well as demonstrating increases in payment efficiency. While compliance departments are judged on...
The end is nigh?
The end is nigh?

8th September 2011

Joel Lange, payments product manager, AccuityIn December of last year, the European Commission (EC) released its plans for European Union end-dates for the migration of both credit transfers and direct debits to SEPA-compliant formats. Since that time, further input has been submitted from both the European Parliament as well as the Council of the...