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LSEG and Facctum Collaborate on World-Check On Demand

In a significant step forward for the financial services sector, London Stock Exchange Group (LSEG) has partnered with Facctum to offer the innovative World-Check On Demand service via Facctum's leading FacctList™ platform. This collaboration is designed to deliver real-time risk insights that give financial institutions immediate access to pertinent financial crime data.

Real-Time Risk Coverage

World-Check On Demand is structured to meet the needs of today's fast-paced world. By providing continuously updated information, this tool ensures institutions can swiftly respond to risks associated with sanctions, politically exposed persons (PEPs), negative media, and enforcement actions. With flexible API integration, organizations can seamlessly incorporate this feature into their existing onboarding, screening, and transaction monitoring platforms.

Enhanced Integration with FacctList

Facctum's FacctList serves as a robust platform for managing and integrating such data effectively. Through this, financial bodies can bring World-Check On Demand into their compliance workflows effortlessly. FacctList is capable of real-time data intake, enrichment, and distribution, outputting in standard formats compatible with leading screening engines. Consequently, organizations can deploy this advanced tool without the burden of complex system overhauls.

Core Benefits of the Partnership

1. Real-Time Access: Instant screening capabilities enhance the efficiency of payment processing and onboarding.
2. Increased Responsiveness: Alarms are processed swiftly, allowing for extended remediation periods and thorough filtering options that support decision-making.
3. Superior Precision: With enhanced risk taxonomies and transparent change tracking, stakeholders can trust the results.
4. Unified Data Model: A cohesive schema across all content types simplifies integration and paves the way for future compliance standards like ISO 20022.
5. Cost Efficiency: Fewer false positives lead to optimized workflows, enabling faster onboarding and potential automation opportunities.

Statements from Leadership

Priya Nallan, Head of Product Management at LSEG Risk Intelligence, emphasized the necessity for more than just data in today’s compliance landscape, stating, "This new era of risk and compliance demands insights that are real-time, precise, and trustworthy. World-Check On Demand offers just that, empowering our customers to act swiftly and confidently while simultaneously lowering operational costs."

KK Gupta, CEO of Facctum, also highlighted the transformative nature of their joint project, noting, "We take pride in collaborating with LSEG to create a solution that signifies the future of risk intelligence. Our platform architecture ensures seamless integration of World-Check On Demand data after compliance systems, improving the screening activities of companies in a more efficient and effective manner."

About Facctum

Facctum stands at the forefront of regulatory technology, providing advanced platforms that tackle financial crime compliance. Their modular solution helps institutions achieve comprehensive compliance swiftly and accurately. Together with LSEG, Facctum is set to offer next-gen data and automation capabilities. For additional information, visit Facctum’s website.

In conclusion, the partnership between LSEG and Facctum represents a pioneering advancement in real-time risk management and compliance, equipping financial institutions to navigate complexities more efficiently in a rapidly evolving environment.