Sanctions Screening
In today’s ever changing, strict regulatory environment, scheme operators and commercial banks struggle to perform sanctions screening 24/7 and in real-time required by Instant Payments infrastructure. The adoption of these modern payment channels is delayed because of the shortcomings of the legacy solutions incapable of adhering to the latency required.
Solution Highlights
Independent or Centralized Deployment
The Montran EFS solution can be offered directly to commercial banks, as well as a centralized multi-tenant environment offered by Instant Payments operators (or any other CSM) to their participants. As a value added service, this will ensure seamless participant onboarding to the Instant Payment with minimum or no integration effort.
ISO20022 Compliance and Multi-channel Support
Natively supports ISO20022 messages used by all recent RTGS, ACH, or Instant Payment systems around the world. It also supports the older format (SWIFT MT, ISO 8583, NACHA and many local CSM formats).
Worldwide Sanctions Lists
Montran’s EFS supports lists from all over the world. Each channel can be configured independently to use only the relevant lists.
Benefits
EASY COMPLIANCE FOR INSTANT PAYMENTS
Banks facing difficulties adapting their existing sanctions screening solution to the Instant Payments world can quickly solve the problem by adopting our solution.
EXTENSIVE CONFIGURATION CAPABILITIES
Multiple compliance lists support— OFAC, European OFAC Lloyds MIU, OFSI, etc.
COST EFFICIENT SOLUTION
A centralized solution at the CSM level is not only convenient but also cost efficient. The commercial banks can solve their problem at a fraction of the cost compared to a solution that is deployed separately for each bank.
EASY INTEGRATION
Montran’s EFS solution already supports all the common message formats and various communication channels (APIs REST and SOAP, IBM MQ, Apache Kafka, file based, etc.) making integration very simple. In a centralized installation at the CSM level there is no integration to speak of. All a bank has to do is subscribe to the service.
CLOUD NATIVE
The solution can be deployed in any public or private cloud. Montran is flexible in providing any kind of service level, starting from a bank-managed solution to a fully Montran-managed solution in the cloud, offered as SaaS.