AML OFAC Sanctions Screening by Fincom

We have worked with Fincom right at a year now and its automated OFAC processing platform has help our organization decrease the number of potential OFAC hits and decrease wire processing times. Their team has been there to assist us in every way possible through implementation and daily processing. Additionally, during a recent audit their team didn’t hesitate to step in and provide the items requested by our audit department. It’s been a great partnership.

Fincom did testing and implementation in an accurate and efficient way! I am very pleased with Fincom and would recommend it to any financial institution.

We partnered with Fincom. It’s a very sophisticated product and it is the Best of Breed. We’ve seen a dramatic decrease in False Positives, I also like the GUI. You have a better understanding of what’s going on, and you get excellent reporting out of that. It’s a really good solution... and I look forward to continuing with it for a long time.

I am writing to provide a reference for Fincom. Specifically, the AML Sanction Screening solution used for our payment rails (Wires, ACH, and Real Time Payments), and the perpetual KYC screening system. Prior to Fincom’s solution AgriBank has been using another vendor’s token based OFAC/AML screening with an average of 95% false positive hits. Upon implementing the Fincom solution …it dropped to about 8% and over the next months – to between 5% and 3%, creating greater efficiencies and more confidence in our screen.
I highly recommend the Fincom suite of products to any organization looking to replace their legacy OFAC/AML/KYC Sanctions Screening solution.