Swift Launches Compliance Analytics Tool
Compliance Analytics enables firms to analyze their own traffic data taken from the Swift network, and identify patterns of erroneous traffic flows, get alerted to high-risk activity and develop different risk models.
"There are increasingly high expectations for financial institutions to implement policies and tools that will help identify and prevent financial crime activities," says Luc Meurant, head of banking markets and compliance services at Swift. "Compliance Analytics enables banks to analyze their existing Swift traffic data to detect spikes, outliers or possible policy breaches."
The application complements SWIFT's compliance services suite as well as its Know-Your-Customer Registry initiative, set to go live at the end of the year.
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