VentureIsrael News

Banking Tech Awards USA 2023 winner: Fincom – 90% cost reduction in AML sanctions screening

Portfolio Companies
The essential regulatory obligation of anti-money laundering (AML) sanction screening involves the meticulous task of comparing names, addresses, and other details in financial transactions against various watchlists, including government sanction lists. It is a tedious undertaking that regulators insist on performing multiple times every day year-round. Whether it’s processing payments, granting loans, or updating sanction lists, AML sanction screening is mandatory.