Name Matching Transaction NMT

Analyze financial transactions, check against entries in black lists, stop unusual payments. 

Name Matching Transaction NMT

Risk-based Payment Monitoring  

One financial transaction connects two parties: the ordering party and the recipient of the payment. A payment can create difficulties for a bank when the counter party is not a customer of the institution and is determined to be dubious. Our compliance module Name Matching Transaction (NMT) monitors unusual transactions and checks all transactions before they are executed. The software follows a risk-based approach and distinguishes between incoming and outgoing payments, integrates relevant internal and external checklists, and offers many helpful functionalities for payment monitoring. 

ACTICO's Name Matching Transaction Software


Key Features

Ex-Ante Monitoring

NMT checks all transactions before they are booked. Sender and recipient data is checked against entries on blacklists. As soon as a transaction is classified as unusual, its execution is temporarily halted.

Supports Common Lists

NMT allows for the import and check against all common lists. Names are compared against commercial, government and internal lists, followed by checks against embargo and blocked institutions lists.

Checklist Administration

NMT offers convenient functionalities to compile and administer checklists and criteria directly within the application, such as countries, banks or keywords.

Transaction Monitoring

Every incoming and outgoing payment (blocking direction) is checked prior to posting/execution. Critical transactions are put on hold and must be approved manually.

Workflow Support

Electronic workflows support the clarification of hits. Hits that are not processed within a defined time period are approved automatically. Clarification is done later in these cases.

White List Functionality

NMT offers the ability to define exceptions so that no hits are generated. Once a match is identified and clarified, white list functionality automatically prevents a second hit.

benefits
"As an international insurance company, we serve many customers in Europe. We rely on ACTICO solutions to prevent money laundering and terrorist financing."
Oliver Hügli, Group Head of Compliance & Qualitative Risk Management, Swiss Life

benefits

Quick Clarification

Hits can be grasped and clarified quickly due to the visual comparison of the payment and matching blacklist entry.

Full Compliance

By using our NMT module, customers fulfill all legal and regulatory requirements for the testing of payments against embargo lists.

Strong Performance

NMT is used in multiple installations and handles large transaction volumes successfully.

Audit-Proof Traceability

All steps and decisions in the process, such as the reason behind stopping a transaction, are documented and fully traceable.

Simple Integration

NMT can be integrated easily with any booking system and it also integrates seamlessly with our Compliance Suite.

Highest Discretion

As NMT integrates directly with your applications, all checks are executed in-house and customer data does not leave the institution at any time.

Stop Critical Transactions Early On

Companies use our software and expertise in compliance to monitor transactions prior to booking. Besides common check lists, any check criteria can be used: Booking texts can be checked for certain key terms, such as terrorist code words and other criterion. Other potentially problematic items are flagged as well, such as international wire transfers that can lead to delays. With Name Matching Transaction ACTICO's Compliance Suite offers the services you need to decide quickly whether or not to accept payments.