Designed to address the needs of small and medium-sized enterprises, uComply is a new all-in-one automated customer information filtering service, available as a download on an annual subscription basis. In six simple steps, organisations are given access to the solution performing customer filtering against sanctions lists published, among others, by the Office of Foreign Assets Control (OFAC), United Nations (U.N.), and European Union (E.U.), as well the list of Politically Exposed Persons (PEPs). The uComply solution also provides the ability to review and decide on alerts with appropriate audit trail, as well as to generate statistical summary reports.
In these uncertain times, uComply will assist financial institutions and insurance companies, among others, to remain compliant without the financial burden of a long-term commitment. This enables organisations not only to protect themselves from potential expensive legal consequences, but also helps them preserve their commercial reputation.
âThrough uComply, small and medium-sized enterprises now have access to a state of the art âall-in-oneâ name matching service adapted to their specific needs and constraints. With Dow Jones and Sword FircoSoft we are collectively demonstrating that conventional business and technological barriers to KYC compliance management are now removedâ, says Pascal Eber, Partner, Advisory & Consulting at Deloitte Luxembourg.
John Nash, Global Alliances Director at Sword FircoSoft, is convinced of the applicationâs success: âWe are excited by the opportunities the uComply service brings to the business community across the world and proud to be associated with it alongside two other great firms like Deloitte and Dow Jones.â
âSMEs have often found it difficult to access the tools needed for effective and efficient automated sanctions and AML screening. uComply addresses the needs of this sector by providing market leading screening technology, workflow design and compliance content without the need for large investments in compliance infrastructureâ says Rupert de Ruig, Managing Director, Dow Jones Risk & Compliance.