Facctum in Insurance

The insurance industry presents a number of avenues for perpetrators to attempt money laundering. Through Facctum's AML processes, compliance teams can identify suspicious entities and activities in real time. Our solutions enable insurance companies to effectively meet regulators' demands today, as well as keep up with the constant changes in regulation.

Why Facctum?

Optimize Customer Onboarding

Improve alert quality while reducing false positives. With our global database of sanctions and watchlists.

Always Updated

Get notified as soon as a critical change in risk status occurs. Receive sanction updates up to seven hours before.

Smoothly Integrate

Using webhooks, we allow for straight- through processing and the freezing of transactions in real-time.

Know Your Customers

It is imperative to minimize the risk your customers bring. With our products, Facctum helps businesses prevent financial crimes. Monitor for sanctions lists, watchlists, and politically exposed persons (PEPs). Look for fraud in claims and check payment before processing.

Comply with Regulatory Guidelines

Determine the ultimate beneficiaries under complex ownership and control structures during claim payouts or underwriting. Deploy effective anti-money laundering and sanctions screening programs to comply with increasing regulatory demands. Adopt a transparent and easy-to-understand matching technology. Meet auditor and regulatory requirements.

Transaction Monitoring

For insurance companies, transaction monitoring is crucial to AML compliance. The Bank Secrecy Act mandates that insurance companies monitor transactions related to permanent life insurance policies, annuities, and other products with investment features. Keep an eye on life insurance policy transfers. Using our solution, you can protect your company against fraud as well as maintain an audit trail.

Customized Support & Seamless Integration

Facctum integrates very easily. Our Restful API documentation provides very detailed integration options. Additionally, our integration specialists will assist your technical teams as needed.

Meet Facct(UAL)

A risk screening solution, Facct(UAL) provides a single point of entry for all external data, including that which might be pertinent in an investigation or screening.

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