Manual screening of customers and other third parties to identify potential compliance risks can be a cumbersome undertaking in terms of time and human resources—both of which are usually in short supply. Because there is no single repository for global sanctions and watch lists, just tracking down the relevant lists takes a frustrating amount of time—and since the lists can change, you have to repeat the time-consuming process frequently to have confidence in your results.

With an automated process in place, you can accomplish screening more quickly, enabling you to allocate your resources more strategically. For example, more efficient screening allows you to spend your time on more critical due diligence investigations when screening surfaces a potential risk.

How Does BatchNameCheck Help with KYC Compliance?

Designed to accelerate AML and ABC checks using a systematic approach, BatchNameCheck allows you to conduct ad-hoc or high-volume reviews of critical third parties. Here’s how it works:

  1. Upload your contacts to verify companies and individuals against multiple data sources.
  2. Lists are updated daily to ensure you are running name checks against the most current information for near real-time results that you can depend on.
  3. Once your contact list is processed, verify any hits and identify potential areas of concern.
  4. Flag any entities and individuals that warrant escalated due diligence or further monitoring, and run daily individual, detailed and global name check reports.

This proactive approach to screening—along with the audit trail it creates—helps to demonstrate your commitment to compliance to regulators.

Want to learn more?

Download the BatchNameCheck overview today.

Import Your Contacts

 

The contacts are imported manually through Excel spreadsheets or automatically through XML (audit trail of correct download)

Update Lists

 

The list updates are automatically downloaded to your server during the night (audit trail of correct download)

Execute Your Name Check And Verify Hits

 

BatchNameCheck compares your whole client database with the updated lists. All results that have already treated are stored so that you will only work on the delta (new names or new hits) (audit trail of correct execution of the program)

Run Your Reports

 

Once you have treated the hits, you can run a report to document your work

A Proactive Approach to Entity Screening

Let’s get started

Contact us by completing the form below or if you need immediate assistance, please call 1-888-AT-LEXIS