Compliance Link is modular enterprise-wide interdiction screening solution, and Global WatchList is proprietary collection of sanctions, enhanced due diligence and Politically Exposed Persons (PEPs) lists.
Accuity claims that its solutions will help Bank of Beijing lead its market by employing an innovative solution that includes functionality for managing entity records in multiple languages and character sets.
The Bank engaged with Accuity and its local partner in China, Jade Bird, in early 2009 to discuss the market and technology-specific needs of the Bank’s AML compliance program.
Compliance Link’s Language Module will convert Bank of Beijing’s Chinese-character entity records into Roman-character equivalents for screening – in real time or in batch – against global caution lists in Roman characters.
While Bank of Beijing is using only the Chinese-language component, Compliance Link offers capabilities for a number of languages in other character sets including Japanese, Korean, Cyrillic, Arabic, Greek and many others.
Using the Language Module as part of its end-to-end screening solution, Bank of Beijing will have greater visibility and clarity when screening daily volumes of up to ten thousand cross-border payments, complying with all national and international regulations and protecting its reputation, claims Accuity.
In addition, Bank of Beijing will be employing Compliance Link’s ability to screen information in its databases and transaction systems held in Chinese characters against caution lists in Chinese characters.
