January 28, 2023


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Facctum launches FacctSet to streamline watchlist administration 


The brand new resolution is the primary purpose-built watchlist administration product to deal with rising information administration challenges 

London, 3rd November 2022 – Facctum™, a risktech firm specialising in cloud-delivered enterprise threat decisioning know-how, in the present day publicizes the launch of FacctSet™, a brand new resolution designed to streamline watchlist administration for improved compliance outcomes. FacctSet is the primary purpose-built product designed to deal with the rising information administration challenges created by the fast development of sanctions and AML compliance obligations. 

Trendy screening processes require a shift in know-how to deal with the rising pressures from evolving sanctions and anti-money laundering compliance obligations. Beneath this present atmosphere, Watchlist Administration (WLM) methods should not solely struggling to make sure information is of the required commonplace required for screening processes, however they’re additionally creating extra buyer friction and rising alert remediation prices. As monetary establishments shift to a risk-based method to screening, conventional approaches are additionally not able to delivering ample ranges of customisation, particularly on the scale and complexity required to help various watchlist companies for a number of screening situations. 

In response to those rising challenges, Facctum has developed FacctSet as a WLM system that gives the operational capability to handle advanced, quickly altering and enormous scale watchlist information. With FacctSet, establishments can create and preserve inside block or go lists, in addition to customise business watchlist information to create a number of companies for risk-based method screening. Analytics dashboards present vital operational insights and reporting options supply clear and explainable info for regulatory reporting.   

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KK Gupta, founder and CEO of Facctum notes“The development in watchlist information sources, complexity and quantity, along with a excessive velocity of regulatory change, is pushing watchlist administration methods to the boundaries of operational capability and functionality. With FacctSet, we’re bringing watchlist administration into a brand new period that not solely addresses the present challenges, however appears forward to supply sooner velocity to compliance and extra environment friendly operations for an improved buyer expertise.  

“After conversations with purchasers and people within the monetary area, we noticed there was an pressing want for efficient sanctions and anti-money laundering compliance screening, with companies discovering it more and more tough to maintain tempo with regulatory expectations. Corporations want the fitting know-how that permits for the next stage of customisation, scale, capability and functionality, all of which FacctSet can present in a unified platform with constant governance and reporting.  FacctSet is an instance of how a brand new method to implementing information know-how can result in sooner, simpler compliance and buyer expertise.” 

FacctSet is the second product launched by Facctum this yr, following FacctView which gives a cloud-first screening functionality for monetary crime threat screening. FacctSet is designed for SaaS or as an on-premises resolution. For additional info on FacctSet go to:  FacctSet – Facctum