Transaction Filtering
DetectX® Transaction Filtering screens payments against sanctions lists before they are processed, and holds a matched payment for review rather than after the fact.
The DetectX® approach
Filtering sits in the payment path rather than beside it. A payment is screened before it is processed, and a match is held for an analyst instead of being recalled once it has left.
Instant Payment Transaction Filtering covers instant payment schemes, where the check has to complete inside the scheme response time rather than in a batch window.
- Before processing
- The check runs in the payment path, not after settlement.
- Held for review
- A matched payment waits for an analyst rather than being recalled.
- Instant payment schemes
- The check completes inside the scheme response time.
- Same lists
- The sanctions data screening already uses, not a second copy.
Key benefits and impact
A held payment is a decision; a recalled payment is an incident. Filtering before processing is what keeps sanctions exposure out of the settled book.
Why DetectX®
Filtering reads the same sanctions lists as Name Screening, so a payment and the customer behind it are judged against one set of data. Two screening systems eventually disagree, and the disagreement is found by an auditor.
Regulatory requirements
DetectX® supports the FATF and GAFI recommendations, and is used against Swiss regulatory requirements including GwG, FINMA-GwV, VsB 16, KAG, FinfraG, FidleG, BEHG and KKG.
It also supports MiFID and EMIR reporting obligations, and BASEL II and III requirements.
See Transaction Filtering on your own data
A demo runs against a scenario you choose, so the alert volume and the match quality are yours rather than ours.
Request a demo