Accuity’s Market-Leading One-Stop Approach to AML Compliance Goes Beyond Other Offerings

London - 19 May 2011

Accuity, the leading provider of payment routing data, anti-money laundering (AML) screening software and services, has for years been one of the few providers in the industry to offer both a filtering technology for AML compliance and the data that powers it. “We are pleased to see that other firms are finally realising the value that a combined filter and data solution for AML and KYC can offer to the market,” said Hugh Jones, Accuity’s President and CEO. “But the truth of the matter is that approach only gets you half way there.”

Accuity is the only company with the ability to marry payment data to sanctions and enhanced due diligence data. This data enhancement has allowed Accuity’s customers to precisely identify positive hits, even when identifying information such as a name or country has been stripped from the payment message.

Accuity has fine-tuned its compliance data enhancements over the past 18 years. Incorporating information gleaned from Accuity’s unparalleled payment database – the industry’s Golden Copy – including bank subsidiary addresses, BIC codes for sanctioned banks and complete payment routing data into its comprehensive list of sanctioned and high-risk entities is an exacting and precise operation that Accuity’s team of data professionals has perfected with time and experience. The resulting compliance database as well as the data collection and enhancement processes have been externally audited and verified with positive attestations providing Accuity’s customers with a level of assurance and validity that no other data supplier can offer. “The fact that we offer more data for PEPs and high-risk entities than other suppliers is important, but not what makes our solution unique,” said Brent Newman, Accuity’s Managing Director of Global Product and Data Management. “By following our internally developed, time-tested, audited processes for data enhancement and fulfilment, we are able to offer the market a solution unlike any other.”

“The recent unrest in the Middle East and the changing political landscape within known terrorist groups has heightened the importance of screening for all organizations,” said Jones. “Accuity has long held the belief that it’s not enough to simply screen customer accounts and the names on a transaction – the bad guys are smarter than that. Adding our payment data – the best in the industry – to the compliance screening process has helped protect our customers for almost two decades.”

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