Watch List Filtering
Download Brochure en.SafeWatch Filtering is a market-leading watchlist and OFAC filtering solution used today by over 400 financial institutions and corporates in 80 countries.
Ensure OFAC Compliance
en.SafeWatch Filtering provides robust sanctions screening helping organizations to ensure compliance of OFAC regulations, mitigate financial crime and meet anti-terrorist financing guidelines. en.SafeWatch Filtering offers real-time blocking, provides NACHA IAT screening capabilities, supports all sanctions lists, and provides direct SWIFT message screening.
Its highly sophisticated OFAC screening and filtering engine ensures rapid identification of potential risks while limiting false positives, thereby saving your compliance team substantial time and money. The en.SafeWatch false positive reduction rate is one of the best in the industry.
en.SafeWatch acts as the central monitoring point for all your financial traffic, irrespective of your data format and where it may reside. It is rapidly deployable and offers seamless integration with your existing systems.
Key Benefits
- Effective OFAC and Sanctions Screening
- Sophisticated Filtering Rules for Low False Positives
- Ensure Compliance with AML Laws and Regulations
- Control Costs with Rapid Deployment and Implementation
- Reduce Workload with Reduced False Positives
- Streamline Processes and Improve Operational Efficiencies
- Direct SWIFT Message Screening
Modular Connectivity to Adapt to Your Business Processes
At a very high level, en.SafeWatch Filtering obtains data regarding your customers, beneficiaries and transactions from different data sources. The Data Source Connectors are specifically written to capture data from a particular application or a particular format. The data captured by these Connectors is then processed by the en.SafeWatch server and is checked against the loaded sanctions, Politically Exposed Persons or black lists depending on the rules specified within its rule-based engine. After the execution of these rules, the detections can be logged or generate alerts that are sent to the central alert management interface. The Data Source Connectors of en.SafeWatch Filtering include:
SWIFT Alliance Connector: delivers seamless integration with your existing SWIFT environment through attaining a “SWIFT Ready Application” label from SWIFT; ensures real time filtering of both your incoming and outgoing SWIFT messages and immediately prevents the emission of suspicious messages into the SWIFT Network. This connector offers a graphical user interface which can be installed on each SWIFTAlliance Workstation.
FILE Connector: scans the contents of huge data text files irrespective of their size and formats. It ensures quick and powerful scanning by offering optimizations like parallel scanning, which allows multiple scan processes and batch checking. The flexible configuration of this connector allows en.SafeWatch Filtering to work with almost any file format imaginable.
DATABASE Connector: allows the scanning of data stored in JDBC-compliant relational databases. The flexible configuration of this module allows en.SafeWatch Filtering to extract data directly out of the tables or views, scan them and even update the table fields with the scan results.
MQ-SERIES: provides transaction screening facilities to MQ-compatible external systems, such as core banking or middleware applications. This module uses IBM MQ-Series middleware to enable communication between the external system and the en.SafeWatch Server.
API Connector: allows institutions to integrate their in-house (developed) applications with en.SafeWatch Filtering. In addition, it can be used by third party integrators who want to integrate the en.SafeWatch Filtering engine with their solutions.
Name Checker: performs quick manual name scans to check if it matches any black listed entity. Typically used by clerks at the front desk, while entering new customer information, to check if the customer has been black listed.
Easy Watchlist Updates and Management
As AML requirements are constantly evolving, meeting compliance has become a challenging and complex exercise. With en.SafeWatch Filtering institutions can easily manage an unlimited number of lists, including official lists, private lists and lists provided by recognized third party list providers. en.SafeWatch Filtering offers features including list version control, offline tests and list comparisons. In addition, EastNets offers an automated Official Watch Lists update service, which provides access to the official lists and their updates as soon as they are modified by the regulatory authorities.
Flexible Branch by Branch Configuration
Additionally, en.SafeWatch Filtering accommodates institutions of varying sizes. It incorporates the Zone Concept which is useful for large institutions with distributed geographical locations. The Zone Concept enables strict segregation of information pertaining to each branch. Zones can be achieved while continuing to utilize one server to perform all the required checks, thereby lowering both your maintenance and operational costs.