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Name Screening - your questions answered

Use Name Screening to check databases and individual names against sanctions, Politically Exposed Persons and Relatives and Close Associates lists. Our hosted service is easy-to-use and highly effective.

Table of contents

How does Name Screening support sanctions compliance?

Sanctions and Know Your Customer requirements place onerous demands on financial institutions. The rules are complex and the reputational and business consequences of failure can be very high.

Increasingly, corporations also need to screen customers and suppliers for due diligence purposes.

Name Screening helps you to manage the complexity of sanctions requirements and rapidly changing lists by automatically screening databases of individuals and entities (e.g. companies and organisations) against sanctions, Politically Exposed Persons (PEP), Relatives and Close Associates (RCA), Sanctions Ownership Research and private lists, as part of your business as usual processes. Name Screening also supports web-based screening of single names to support customer onboarding and due diligence.

Name Screening is a secure hosted solution from SWIFT with central management of public, private, PEP and RCA lists.

How will Name Screening be used in practice?

Name Screening is a valuable tool for financial institutions and corporates to use for performing know your customer (KYC) checks when onboarding customers, for verifying the parties involved in mergers and acquisitions and other transactions, and for on-going customer due diligence (CDD). Typical users could include treasury, supply chain management and client onboarding teams. User profiles can be set to allow screening only, or full access to alerts and audit trails for those responsible for investigations.

What lists does Name Screening use?

Our broad range of sanctions, politically exposed persons (PEP) and sanctions ownership research lists are sourced directly from regulators and through our partnership with Dow Jones, a leading data resource provider. 

How does Name Screening complement other SWIFT services?

Name Screening is part of our growing portfolio of Financial Crime Compliance services.

For example, Sanctions Screening is our hosted transaction screening service – it’s used by over 700 banks and corporates worldwide for ongoing screening of financial transactions.  Name Screening complements Sanctions Screening. Together, these two cost-efficient, highly effective solutions help you address key compliance requirements.

You can read more about the complete Financial Crime Compliance portfolio here.

Why would I choose Name Screening over other available services?

SWIFT is a proven supplier of community-inspired compliance tools. 700+ institutions already use our screening tools, and we continue to invest in expanding and enhancing our compliance portfolio covering Sanctions, KYC and Analytics/Fraud/AML.

Name Screening uses the latest technology and is purpose-built to maximise effectiveness and efficiency. For example, it offers functionality typically seen in more expensive onsite solutions:

  • Workflow and audit trails
  • Configurable match elimination criteria to reduce the number of alerts generated
  • Intelligent “delta-delta” screening technology for new/modified names
  • Ongoing tuning of the screening tool to maximise effectiveness, using our Sanctions Testing service.
  • World-class security to protect your customers’ data

Because Name Screening is centrally-hosted by SWIFT, there’s no software or hardware to maintain, or list management to handle.

What about security and data protection?

Cyber security and data protection are top priorities for SWIFT. When using Name Screening, your data is safeguarded by SWIFT’s industry security standards and protected by EU data privacy laws. 

How much does Name Screening cost?

Pricing is based on your level of usage. Your SWIFT account manager can provide more details.

Want more information? Do not hesitate to contact us and get your questions answered.