About Compliance

By working together, we’re discovering breakthrough solutions to an increasingly complex and costly challenge

Financial crime compliance is a complex and costly challenge

At the request of our community, we’ve significantly extended our focus into the financial crime compliance domain. We’ve already built a strong portfolio of services through collaboration and by working with partners who are the experts in their field. Now, we’re planning for the future.

Our partnership approach

As a member-owned cooperative, we work closely with our members and users to develop the products and services that meet their needs. This collaborative approach also means we have a strong competence in partnering with expert providers to deliver the best products and services, in the right time frame.  

We’ve worked successfully with expert partners to build a portfolio of financial crime compliance services to help our users address the cost, effort and complexity of meeting compliance obligations. As we plan for future needs, we expect partnering to remain an important element in our approach.

Our partner for Sanctions Screening

Recognised as pioneer and leader in the financial crime market, FircoSoft has over 20 years’ experience in providing watch list filtering and was the first company to receive the SWIFT label for a watch list filtering solution in 2001.

In 2011, following  an open selection process, we selected FircoSoft to provide the underlying components for our Sanctions Screening service.

Since 2000, FircoSoft has been ranked #1, best-of-breed and received numerous accolades and industry recognition for its watch list filtering solution from many organisations and analyst firms.

Our partner for Sanctions Testing

We partnered with Omnicision, a financial crime consulting and solutions company, during the development and launch of our Sanctions Testing service. Omnicision brought unique skills to the project: a global perspective of business risks, challenges and opportunities; knowledge and experience of the systems that underpin our members’ business operations – and the technical and analytical know-how to design successful systems and bring them to enterprise-scale production.  

In 2014, SWIFT acquired Omnicision, a move that underlines our commitment to investing to meet the needs of our communities in the key area of financial crime compliance.

Dow Jones Risk and Compliance

Dow Jones Risk and Compliance is a global provider of risk management and regulatory compliance information, delivering targeted content to organisations around the world. It provides data feeds of relevant information, online tools and custom reports that help firms be more effective and efficient in their anti-money laundering (AML), anti-bribery and corruption, economic sanctions, third party due diligence and commercial risk operations.

Dow Jones’s Sanctions Ownership Research data is now included in SWIFT’s Sanctions Screening service, and its Sanction Alert data feeds into Sanctions Testing. This enhancement allows compliance officers and risk managers to proactively test and monitor their transactions against high-quality enriched Sanctions data.

Dow Jones Risk and Compliance data is produced to the highest quality standards. Its comprehensive and ongoing research on sanctions ownership has resulted in a data set containing over 5,000 companies owned or controlled by listed individuals and entities.

 For more information, visit the Dow Jones website.

Planning for the future

As we plan for the future needs of our community, we are always looking for suitable technology partners  who share our vision: to provide solutions that help the financial community to meet the challenges and operational burden of financial crime compliance effectively, and share the costs.     

To find out more about how we will partner to deliver future services, please contact us.