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News

PEP screening software checks 2 billion records a month worldwide

Datanomic : 03 February, 2009  (New Product)
Systematic screening demand increases to overcome regulatory demands and improve customer and transaction analysis
Fit-for-purpose data and screening specialists, Datanomic has announced that its Sanctions & PEP (Politically Exposed Persons) Screening Software is now regularly screening in excess of two billion customer records every month on behalf of its customers globally, and has become the trusted platform of choice for some of the world's most respected companies. In the wake of recent scandals, hefty financial penalties from regulators, and the need for much deeper, thorough accuracy and analysis of all customer and transaction data, Datanomic's Sanctions & PEP Screening division more than doubled its revenues in 2008.

Datanomic is now the Sanctions screening platform of choice for 50% of the UK's Top 10 Wealth/Asset Managers, is implemented in two of the top ten global Retail Banking giants, some of the UK's largest Insurers, one of the oldest stock broking firms on the London Stock Exchange, one of the world's largest Hedge Funds, one of Europe's leading Merchant Banks and one of the world's largest Investment Banks, to name just a few. Sanctions & PEP screening for the world's largest mobile payments/e-money transfer service also runs on Datanomic. The company now has implementations throughout the UK, Europe, USA, India, Russia, Tanzania, Afghanistan, Kenya and South Africa, with many more countries scheduled for roll-out in 2009.

The market for Datanomic's Sanctions & PEP Screening solution is expanding beyond the financial services sector, to include international law firms who require accurate, effective Sanctions & PEP Screening for regulatory compliance, and general industrial companies who are implementing 'Enterprise Screening': the systematic scrutiny of employees and internal contractors, as well as external partners, agents, third parties, and distributors. Datanomic believes that Enterprise Screening will become standard business practice for large organizations in all major vertical markets within three years.

"We are now the trusted screening platform of choice for some of the world's most respected companies," said Dr Jonathan Pell, CEO of Datanomic. "Our software is used to systematically screen in excess of two billion client records every month by our customers. As a result, Datanomic's software can be considered to be the market leading Sanctions & PEP Screening system in the world. Companies want to safeguard against money laundering or unknowingly doing business with criminals, as well as finding ways of unlocking the value of their data assets through greater efficiency. More and more of our customers are using our software as an integral part of their risk mitigation strategy, and we plan to continue our global expansion throughout 2009 to keep pace with customer demand."

Datanomic's dn:Director Sanctions & PEP Screening software enables organisations to rigorously and systematically identify heightened-risk entities within their customer bases. It relieves the burden of manual or semi-automated client screening by enabling automated Sanctions screening in an easy-to-use/easy-to-implement solution purpose-built for Compliance. Datanomic includes powerful screening rules to match against both commercial and regulatory body/Government watch lists, and has worked with leading organisations in the financial services, general industrial and legal sectors to deliver a highly intelligent data matching solution that is designed for ease of use by non-technical users.
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