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News

Sanction Screening For Friendly Society

Datanomic : 11 January, 2011  (Application Story)
Engage Mutual Assurance has taken dn:Director from Datanomic for screening customer records for politically exposed persons and fraud prevention
Risk & compliance screening and enterprise data management specialist, Datanomic, has announced that Engage Mutual Assurance, has deployed dn:Director for Sanctions & PEP (Politically Exposed Persons) Screening. The initial roll out will screen approximately 8,000-10,000 higher risk investor customer records every month as part of a monitoring process to ensure adherence.



“We were previously using a credit reference agency which was time consuming, unwieldy and we didn’t allow sufficient flexibility and control over when and how often screening was carried out,” said Derek Rose, Compliance Manager and Money Laundering Reporting Officer. “We selected dn:Director to give us flexibility, insight and control. We are now able to ensure far greater accuracy, it’s less labour intensive, and reduces resource costs. As we drive more business online, we will deploy dn:Director to additional customers. dn:Director works in tandem with our customer database, and we run reports overnight to avoid disruption to any 9-5 business. We implemented in just three days, and the automated system means our compliance team has more time to focus on other priorities.”



As the de-facto Risk & Compliance screening solution, for the insurance industry, dn:Director for Sanctions & PEP screening is now systematically checking more than five billion client records every month. Datanomic’s solutions have already been implemented by some of the world’s largest banks, insurers, asset and wealth managers and other institutions to reduce their global compliance risk.
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