Provider of payments and compliance solutions Accuity, has partnered with trade finance solutions vendor China Systems, to provide what they claim is a product providing seamless compliance checks for trade finance transactions.

The product integrates Accuity’s Compliance Link solution with China Systems’ Eximbills Trade Processing Platform to create a SWIFT certified trade and supply chain finance colution.

Improved compliance

Launched at Sibos, the global trade, payments, and securities conference, Accuity and China Systems have created a product that they claim offers robust and comprehensive compliance checks, transaction management and audit trail functions, available in real time – effectively making compliance part of the process rather than an interruption to it.

Accuity’s Compliance Link solution will manage the case management and screening of each transaction, while China Systems’ Eximbills platform will record the results of each decision taken, controlling the transaction workflow and providing full visibility on each decision and subsequent actions.

Features

Key features of the integrated product include an ability to run compliance checks against global watch lists on people, companies, organisations, countries, cities, airports, seaports, dual-use and controlled goods, shipping and vessel information and sanctioned SWIFT BICs.

The product also provides full audit trail of all compliance activities and decisions, starting from its initial detection to its confirmation as an error.

Categories: Trade Based Financial crimes News