HotScan - CGI's real time watch list filter

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Overview

Reduce risk and stay ahead of the regulatory curve

Checking for sanctioned entities and high-risk customers is a resource-intensive process that most financial institutions and corporates manage using electronic tools. Many of these solutions, however, are unable to support the growing numbers of transactions and new regulations.

CGI’s HotScan filtering software scales to scan all payments and customer data, provides notifications of matches against watch lists and meets the constantly rising regulatory compliance bar. HotScan’s industry-leading false positive reduction minimizes delays to transactions and allows rapid and thorough review of customer data while reducing risk and operational costs.

Key Features

  • Scrutinizes cross-border and domestic transactions in real-time and alerts the institution to watch list matches
  • Meets all filtering regulations with real-time scanning, batch scanning and lookup
  • Filters all watch lists, including: regulator lists and internal lists in XML, Excel and CSV format; good guy lists; and subscription lists such as Dow Jones, World-Check and Accuity
  • Scales to scan all payments and is Unicode compliant
  • Offers the breadth and depth of algorithms to find the “true positives”
  • Scans both structured and unstructured data
  • Supports multiple countries, business groups and host systems through a centralized hub
  • Provides online inquiry and batch filtering of names, addresses and other biographical details to support account opening and Know Your Customer (KYC) procedures
  • Integrates with different host systems and interfaces with all industry standard banking systems. It is a certified plugin to SWIFT Alliance Access, has Web Services, MQ and C programming interfaces.
  • Optimizes the alert management function by automating, standardizing  and transforming alert processes with the CGI HotScan Case Management module

Key Benefits

Additionally, the HotScan Intelligent Self Learning (ISL) module makes HotScan a learning filter, rather than a static filter, to significantly reduce false positives and increase efficiency gains without narrowing the net. This module can be implemented alongside any scanning solutions to reduce the hit rate by up to 50%, reducing the number of payments requiring manual intervention.

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