Barclaycard Deploys Datanomic in Money Laundering Prevention
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Barclaycard clears Datanomic to help meet regulatory deadlines
Datanomic, the pioneers of integrated data quality management solutions, has been selected by Barclaycard to supply a software solution for screening clients against commercial Sanctions and PEP watch lists. The Datanomic dn:Match software will be installed at Barclaycard sites in the UK, North America and Africa. The first phase of this contract is operational with remaining phases due for completion before September.
dn:Match is a state-of-the-art data matching engine that will enable Barclaycard to define the most appropriate matching rules for their data when screening customers regularly against Sanctions and PEP lists from third parties such as World-Check, OFAC and the Bank of England to meet the requirements of UK Anti-Money Laundering legislation and guidance.
This new contract from Barclaycard was won largely because of Datanomic's ability to install and go-live within days compared to other options. In addition, Datanomic has developed a comprehensive and customisable template of matching rules that make it fully compatible and capable of delivering World-Check's critical intelligence to institutions that need to automate their Know Your Customer (KYC) and PEP screening processes.
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