Sanctions screening for banks

Sanctions, Watchlist and PEP Screening for Banks

Modernize your sanctions screening process with
powerful PEP scoring capabilities and tailored
screening data pricing

Which Screening Solution is Best for Your Bank?

We look up names of people and companies to check for Watchlist, Sanctions and PEP risk. We don't currently do any continual monitoring of existing clients, partners or vendors. We simply type in names to research.

Basic Screening

On Demand, Up to 10K Unique Names, Standard Audit Report
Learn More
We look up names of people and companies to check for Watchlist, Sanctions and PEP risk. We also may need real-time screening for the new applicants we are onboarding. We currently do, or are considering, doing continual monitoring of our existing clients, partners or vendors.

Standard Screening

On Demand, in real-time, Batch, PEP Scoring, AI insights from Screening History, EDD plug-in
Learn More
We currently screen over 500,000 unique clients, partners or vendors annually for Watchlist, Sanctions or PEP risk during onboarding or on a continual basis for existing clients. We also screen, or are considering screening, a high volume of payments or transactions for Sanctions risk. We either have a current screening platform that we want to keep, or we are considering looking at a new platform.

Integrated Screening

On Demand, in real-time, Batch, PEP Scoring,
AI insights from Screening History, EDD plug-in
Watchlists/Sanctions data in API or Datafile formats
Learn More
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

For companies that need a low cost, highly reliable solution for typing in the names of people and companies to look for possible Sanctions, Watchlist or PEP risk.

 

Learn More

Perform between 100 – 10,000 unique name searches annually.

 

You will also have a screening audit report to record all your searches.

 

Learn More

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

For companies that need a low cost, highly reliable solution that helps screen new applicants during onboarding, and continually monitors existing clients for Sanctions, Watchlist and PEP exposure.

 

Learn More

Provides a configurable workflow to help aggressively reduce false positives. Comes with our proprietary PEP Scoring module, so that your PEP-related false positives are reduced by at least 50%.

 

Learn More

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

For companies that screen a high volume of clients, partners and vendors for Sanctions, Watchlist and PEP exposure. In addition, you may also screen payments and transactions for Sanctions exposure.

 

Learn More

Provides daily Sanctions/Watchlist/PEP feed via datafile or API delivery method, to be ingested into your current screening platform.

 

  • Can include Alessa’s proprietary PEP Scoring module, to reduce PEP-related false positives by at least 50%

 

Learn More

Which Screening Solution is Best for Your Business?

We look up names of people and companies to check for Watchlist, Sanctions and PEP risk. We don’t currently do any continual monitoring of existing clients, partners or vendors. We simply type in names to research.

Basic Screening

On Demand, Up to 10K Unique Names, Standard Audit Report

We look up names of people and companies to check for Watchlist, Sanctions and PEP risk. We also may need real-time screening for the new applicants we are onboarding. We currently do, or are considering, doing continual monitoring of our existing clients, partners or vendors.

Standard Screening

On Demand, in real-time, Batch, PEP Scoring, AI insights from Screening History, EDD plug-in

We currently screen over 500,000 unique clients, partners or vendors annually for Watchlist, Sanctions or PEP risk during onboarding or on a continual basis for existing clients. We also screen, or are considering screening, a high volume of payments or transactions for Sanctions risk. We either have a current screening platform that we want to keep, or we are considering looking at a new platform.

Integrated Screening

On Demand, in real-time, Batch, PEP Scoring, AI insights from Screening History, EDD plug-in Watchlists/Sanctions data in API or Datafile formats

In 2023, OFAC imposed penalties exceeding $1.5 billion on the banking industry for sanctions violations. Poor quality screening was a contributing factor in every OFAC enforcement action. Banks with inadequate sanctions, watchlists, and PEP screening solutions constantly risk accidental non-compliance and massive fines.

 

Alessa’s sanctions screening software helps banks avoid risky relationships, reduce compliance costs and can half the number of PEP-related false positive screening alerts your team receives.

 

Combining up-to-date global sanctions and PEP lists with powerful scoring capabilities, Alessa allows you to confidently focus on your risky clients and auto-resolve low-scored matches based on your bank’s risk appetite, lowering your screening workload without compromising compliance.

Alessa’s powerful screening solution allows you to:

 

  • Avoid risky relationships while saving money on your screening data costs
  • Reduce false positives with our new PEP scoring model
  • Leverage Screening Intelligence Dashboards to proactively identify efficiency gains

A Modern Watchlist, Sanctions and PEP Screening Solution for the Banking Industry

Screen Against the Latest Global Sanctions, Watchlists and PEP Lists

Alessa uses global sanctions lists, PEP lists, adverse media, watchlists and your internal lists to ensure your screening program is populated with the latest, most accurate data. Powered by RZOLUT, our sanctions data is updated daily to ensure screening is always performed against the latest sanctions. Alessa’s broad coverage and timely updates give banks assurance that they are not inadvertently conducting business with risky entities.

Effective PEP Screening

Alessa makes it easy to identify domestic and foreign PEPs who may expose your organization to an elevated risk of bribery, corruption, or money laundering. Our matching engine uses sophisticated algorithms and machine learning to analyze matches in context. PEP screening is fully integrated with sanctions screening for a complete view of customer risk.

Reduce Screening False Positives With PEP Scoring

Our proprietary PEP Scoring Model categorizes, and scores matches, allowing you to focus on high-risk PEPs. Medium and wow risk PEPs can be auto-resolved or placed in a workflow for your manual review. On average, this method reduces your PEP-related workload by as much as 50% each day. With less time wasted on false positives, you can spend the time you need to thoroughly review and decisively act on real sanctions risks and other areas of compliance.

Screen in Real-Time or Periodically

Alessa lets you identify high-risk persons and businesses, helping you to better manage risky relationships and ensure compliance. Entities can be screened in three ways: real-time, periodic or on-demand. Real-time sanctions screening is ideal for onboarding and transaction verification processes that require an immediate response. Periodic screening allows banks to screen or re-screen any number of customers on a schedule or in response to changing information. Your bank’s compliance team can also run on-demand screening whenever necessary.

Reduce Sanctions and PEP Screening Costs

With Alessa, pay only for the screening data you use. We won’t charge your bank to check bundled sanctions lists that aren’t relevant to your screening needs. We provide a targeted, cost-effective screening solution that saves banks up to 40% compared to other screening data providers.

Insightful Watchlist and Sanctions Screening Software for the Banking Industry

Alessa uses current sanction lists, OFAC, law enforcement, PEPs adverse media, crypto, and your own internal high-risk lists to provide expansive insights into the risks associated with any customer or entity.

How Does Our PEP Scoring Work?

It’s simple.

Each night Alessa runs your bank’s client list against the latest PEP lists and assigns an updated risk score to any PEP in your database. The PEPs whose scores surpass your organization’s risk tolerance are then highlighted and brought to your team’s attention for investigation.

 

Alessa can either auto-resolve low and/or medium risk PEP alerts or create a separate work queue for lower risk alerts based on your organization’s risk preference.

It’s simple.

 

Each night Alessa runs your client list against the latest PEP lists and assigns an updated risk score to any PEP in your database. The PEPs whose scores surpass your organization’s risk tolerance are then highlighted and brought to your team’s attention for investigation.

 

Alessa can either auto-resolve low and/or medium risk PEP alerts or create a separate work queue for lower risk alerts based on your organization’s risk preference.

How Are PEP Risk Scores Calculated?

Our proprietary scoring model analyzes:

Your Annual Savings

PEP Analysis

Alessa re-analyzes and places a risk score on all PEP records every night.

PEP Score

After analysis, PEPs are categorized into High Risk, Medium Risk or Low Risk categories.

Auto-Resolve

Based on your organization's risk appetite, configure Alessa to auto-resolve medium risk and/or low risk PEPs.

Review

Review non auto-resolved PEPs that have been identified to pose high risk to your business.

PEP Analysis

Alessa re-analyzes and places a risk score on all PEP records every night.

PEP Score

After analysis, PEPs are categorized into High Risk, Medium Risk or Low Risk categories.

Auto-Resolve

Based on your organization's risk appetite, configure Alessa to auto-resolve medium risk and/or low risk PEPs.

Review

Review non auto-resolved PEPs that have been identified to pose high risk to your business.

Industries We Serve

Schedule a
Free Demo

Learn how Alessa can help you avoid risky relationships.

 

Book your complimentary demo and see our sanctions and watchlist screening solution in action.

Why Choose Alessa's Sanctions Screening Solution?

Compliance professional using a sanctions screening software

Reduce Screening False Positives and Negatives

Sanctions list matches are given a confidence score, and alerts are triggered above a customizable confidence threshold, reducing the time your team spends chasing false positives while enhancing the reliability of your sanctions compliance process.

 

Our sanctions screening software uses AI to ensure accuracy, including natural language processing, neural networks, Markov models, transliteration rules, and word-embedding vectors. 

watchlist screening software

Streamline KYC and CDD Processes

 

Alessa’s on-demand sanctions screening automatically checks customer data against the latest global sanctions lists and other data sources. We flag high-risk customers and generate comprehensive sanctions reports, giving your compliance team the information to make accurate decisions.

 

Alessa minimizes sanctions compliance risk with on-demand sanctions, PEP, and adverse media screening while reducing investigation and compliance costs. 

watchlist screening software
AML Watchlist PEP and Sanctions Screening Software

Quickly Triage Sanctions Watchlist Matches

 

Alessa provides detailed information for each potential match, including aliases, biographies, nationalities, dates of birth, contact information, networks of connections, timelines of significant incidents, and more, depending on the data source.

 

Investigators have the context they need to make quick, informed decisions. Every action is recorded to support future investigations.

sanction screening an existing client

Screen for Sanctions Compliance Risks Across the Customer Lifecycle

 

Alessa’s sanctions screening software ensures compliance throughout the customer lifecycle with real-time, periodic, event-based, and on-demand sanctions checks. Our comprehensive approach adapts to your needs at every stage, from onboarding to ongoing transaction monitoring, allowing for consistent risk assessments.

sanction screening an existing client
AML professional using a Global Watchlist Search Software

Leverage Workflow Automation for Sanctions Investigations

 

Alessa’s user-friendly drag-and-drop workflow module allows compliance teams to tailor workflows to their organization’s needs, including setting response times, outlining escalation steps, and requiring specific information, such as comments, attachments, and root cause indicators.

 

Decisions are communicated instantly to integrated systems, enabling real-time responses, whether proceeding with customer and vendor onboarding, blocking, or releasing transactions.

Choose a Solution That Best Fits Your Screening Needs

We look up names of people and companies to check for Watchlist, Sanctions and PEP risk. We don't currently do any continual monitoring of existing clients, partners or vendors. We simply type in names to research.

Basic Screening

On Demand, Up to 10K Unique Names, Standard Audit Report
Learn More
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

For companies that need a low cost, highly reliable solution for typing in the names of people and companies to look for possible Sanctions, Watchlist or PEP risk.

 

Learn More

Perform between 100 – 10,000 unique name searches annually.

You will also have a screening audit report to record all your searches.

 

Learn More

We look up names of people and companies to check for Watchlist, Sanctions and PEP risk. We also may need real-time screening for the new applicants we are onboarding. We currently do, or are considering, doing continual monitoring of our existing clients, partners or vendors.

Standard Screening

On Demand, in real-time, Batch, PEP Scoring, AI insights from Screening History, EDD plug-in
Learn More
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

For companies that need a low cost, highly reliable solution that helps screen new applicants during onboarding, and continually monitors existing clients for Sanctions, Watchlist and PEP exposure.

 

Learn More

Provides a configurable workflow to help aggressively reduce false positives. Comes with our proprietary PEP Scoring module, so that your PEP-related false positives are reduced by at least 50%.

 

Learn More

We currently screen over 500,000 unique clients, partners or vendors annually for Watchlist, Sanctions or PEP risk during onboarding or on a continual basis for existing clients. We also screen, or are considering screening, a high volume of payments or transactions for Sanctions risk. We either have a current screening platform that we want to keep, or we are considering looking at a new platform.

Integrated Screening

On Demand, in real-time, Batch, PEP Scoring,
AI insights from Screening History, EDD plug-in
Watchlists/Sanctions data in API or Datafile formats
Learn More
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

For companies that screen a high volume of clients, partners and vendors for Sanctions, Watchlist and PEP exposure. In addition, you may also screen payments and transactions for Sanctions exposure.

 

Learn More

Provides daily Sanctions/Watchlist/PEP feed via datafile or API delivery method, to be ingested into your current screening platform.

 

  • Can include Alessa’s proprietary PEP Scoring module, to reduce PEP-related false positives by at least 50%

 

Learn More

We look up names of people and companies to check for Watchlist, Sanctions and PEP risk. We don’t currently do any continual monitoring of existing clients, partners or vendors. We simply type in names to research.

Basic Screening

On Demand, Up to 10K Unique Names, Standard Audit Report

We look up names of people and companies to check for Watchlist, Sanctions and PEP risk. We also may need real-time screening for the new applicants we are onboarding. We currently do, or are considering, doing continual monitoring of our existing clients, partners or vendors.

Standard Screening

On Demand, in real-time, Batch, PEP Scoring, AI insights from Screening History, EDD plug-in

We currently screen over 500,000 unique clients, partners or vendors annually for Watchlist, Sanctions or PEP risk during onboarding or on a continual basis for existing clients. We also screen, or are considering screening, a high volume of payments or transactions for Sanctions risk. We either have a current screening platform that we want to keep, or we are considering looking at a new platform.

Integrated Screening

On Demand, in real-time, Batch, PEP Scoring, AI insights from Screening History, EDD plug-in Watchlists/Sanctions data in API or Datafile formats

Alessa Provides a Modular AML Compliance Solution for Banks

Sanctions screening is one solution in Alessa’s integrated AML platform for banks. It is powerful on its own, but when used in collaboration with our other modules, provides a complete end-to-end AML solution for the banking industry. Our AML modules include:

Bank AML Compliance in a Single Platform

Alessa provides you with a comprehensive and daily update on client risk, highlighting clients whose risk scores have surpassed your organization’s risk threshold in the last 24-hours.

Identity Verification

Alessa's sanctions screening integrates seamlessly with our industry-leading identity verification capabilities. Verify identities in real-time during onboarding, and conduct periodic and ongoing CDD for KYC and KYB processes. Alessa helps you to make informed decisions about new relationships backed by reliable identity data and comprehensive sanctions intelligence.

A 360° View of Each Client

Our integrated solutions offer a holistic view of client information and activities, with daily updates on client risk. Alessa makes suspicious activity easier to identify, investigate, and resolve.

Transaction Monitoring

Alessa offers real-time, periodic and event-based transaction monitoring and screening to help you stay ahead of bad actors and changing regulations.

Custom Risk Scoring

Every financial institution has a different risk appetite. Alessa offers a fully customizable risk model to support your unique customer due diligence and KYC requirements.

Automated Regulatory Reporting

Cut the time your bank’s compliance teams spend on regulatory reporting. Alessa auto-populates, validates, and submits regulatory reports, including reports for FinCEN, FINTRAC, and numerous other regulatory environments.

Enhanced Due Diligence

For higher-risk customers and transactions, Alessa sanctions screening works hand-in-hand with our enhanced due diligence (EDD) features. Quickly escalate sanctions and PEP alerts to EDD cases for deeper investigation. Alessa's EDD capabilities, powered by RZOLUT, streamline customer outreach, adverse media screening, and documentation of findings.

Latest Insights

AML False Positive Rate Analysis

How to Reduce AML False Positives

Learn how to reduce AML false positives in your compliance programs and streamline your screening procedures to increase efficiency.

Excellent tool for fraud prevention and risk management

I have worked with Alessa for years because of how useful it is to thoroughly analyze transactions and identify suspicious operations

– Jane Doe, Company ABC

Please fill out the form to access the webinar: