Headquartered in Johannesburg, South Africa, Connection42 provides business, technical and architectural solutions to financial services organisations, including many of the members of the Johannesburg Stock Exchange (JSE). Its partnership with FinScan means Connection42 can now also assist clients in complying with the screening requirements of international anti-money laundering and anti-terrorism regulations.
Used in thousands of projects worldwide, FinScan's powerful matching engine facilitates the efficient and accurate screening of large volumes of records with very precise, user-configurable rules for flagging suspicious records. This process greatly reduces the risk associated with missing real matches (false negatives), and minimises the time and cost associated with researching false matches (false positives).
"We're very pleased to partner with FinScan in offering our clients this easy-to-use, world-class suspect screening capability," said Selwyn Batista, CEO Connection42. "FinScan is a natural complement to our portfolio of services and enables us to assist our clients in meeting their compliance needs."
Deployable as a licensed, hosted or Internet-based ad hoc solution, FinScan provides robust, cost- effective screening for organisations of virtually any size - from those performing only individual look-ups to those screening millions of records at a time. In addition, to assist organisations that do not have the internal expertise or IT resources to efficiently comply with the full anti-money laundering and anti-terrorism mandates of the international regulations, all FinScan solutions also offer a complete compliance package that includes sanctions list management and updating services, as well as automatic production of the audit and due diligence reports that the mandates require.