Bottomline Launches Real-Time Watchlist Screening

Published 

Portsmouth, NH – Bottomline (NASDAQ: EPAY) today announced the availability of Bottomline Watchlist Screening (WLS) delivered by lightweight API implementation through Bottomline’s SaaS technology. Bottomline’s payments expertise, shaped across multiple junctions of the payment lifecycle, helped engineer a sanctions solution that can reduce false-positives dramatically, offers faster go-live and is less costly than many alternatives.  The first North American financial institution and the first multinational corporate customers are implementing Watchlist Screening.

WLS is available to financial institutions and corporates globally, who can easily implement it with existing Bottomline secure payments solutions or as a standalone solution. WLS screens originator, beneficiary and counter-party transactions in real-time against official sanctions lists built into the solution and published by international regulatory bodies including the EU, HMT, OFAC, OFSI and UN. 

Bottomline Watchlist Screening’s integrated sanctions lists empower financial institutions and corporates to:

  • Comply with Anti-Money Laundering (AML)/Counter Terrorist Financing (CTF), Know Your Customer (KYC) and Wire Transfer Regulations (WTR2) — including AML, CTF and KYC screening, and AML and KYC compliance
  • Centralise and automate transaction Sanctions screening, including alerting, workflows and reporting to overcome limited compliance/risk resources available to manage and process large volumes of data
  • Implement and refine AML/CTF risk models to reduce false positives when identifying and screening sanctioned and high-risk entities.

Global financial and corporate organisations rely on Bottomline for domestic and international payments, state of the art fraud detection, insider fraud protection, behavioral analytics, consolidated cash management and regulatory compliance solutions. Bottomline’s fraud and financial crime solutions for Banking include Secure Payments, Insider Fraud, Enterprise Case Manager and Compliance solutions, which are used by hundreds of banks worldwide to manage fraud across all fraud types and also used by Bottomline to protect our own payment network. Bottomline’s capabilities have been recognised in the Major Players category of the IDC Marketscape: World Enterprise Fraud Management in Banking 2020 Vendor Assessment #US45617020, July 2020. 

“Financial institutions and enterprises continue to struggle to screen ever-growing volumes of customer and transaction data against a variety of watchlists,” said Arin Ray, Senior Analyst with Celent’s Securities & Investments practice. “Ongoing regulatory scrutiny around the world, always evolving watchlists and the increasing complexity of a globally-interconnect financial system have exposed the limitations of traditional technology solutions in screening.  The need for real-time, integrated sanctions intelligence is becoming an imperative.”

“Bottomline is committed to fighting fraud and financial crime across the full life of a payment in the highly digital, global and regulated world of transactions,” said Omri Kletter, VP, Fraud and Financial Crime, Bottomline. “We’ve embarked on a journey to disrupt the sanction screening market. This shake-up aims to help banks and corporates comply with the regulation in a modern way, with dramatically lowered false-positive results.

Using a SaaS-based approach, our view across payment junctions lets us extend our fraud expertise to bring corporates and financial institutions a watchlist screening offering that is easy to use, fast to implement and offers core protection across the lifecycle of payments.”

Learn more about Bottomline Watchlist Screening and Fraud and Financial Crime capabilities. Visit Bottomline.com.

Most recent episodes

Podcast - Journeys to Treasury Deep-Dive: Cash Flow Hedge Accounting at JT Group

Listen to this audible case study, which provides a lens over the details of a recent cash flow hedge accounting project undertaking by the JT Group treasury team.

33:38

Podcast - Innovation as an Enabler: Sustaining Global Trade Finance in Uncertain Times

J.P. Morgan's Bayo Osolake, who joins Eleanor Hill (TMI) to discuss how treasurers can facilitate global trade in the currently turbulent macroeconomic environment.

13:07

Relative Normality On Horizon — But Divergent Monetary Policy Pathways Likely

Welcome to the latest edition of Liquidity Link Live, your exclusive market analysis provided by Northern Trust Asset Management.

06:34

Audio TMI - MMF Reform Proposals Threaten LVNAV Viability for European Treasurers

Proposed MMF changes currently being debated at European Commission level endanger the utility of one of the most popular forms of MMF used by corporate investors across the continent.

Audio TMI - Special FX

Two experts from NatWest share the inside track on how treasurers can better manage FX risks by shaking up legacy processes and old-fashioned thinking, improving data coll...

15:27

Audio TMI - Roadmap Towards a First-Class Group Treasury

As the perennial debate continues around the pros and cons of a centralised tre...

12:28

Audio TMI - How Etihad Covered all Three ESG Elements in One Sustainability-Linked Financing

Etihad Airways recently raised US$1.2bn in the first sustainability-linked loan in global aviation with terms that relate to all three areas of ESG.

13:26

Reducing Friction in International Payments: Five Steps for Treasury Teams

What are the steps that treasury teams can take to remove roadblocks in processing international payments? Daniela Eder, Gibran Maqsood, and Karsten Becker (Barclays) to answer this question.

30:31

Keeping the Plates Spinning: the Art of Treasury Project Management

Sandra Shen (Actualize Consulting) joins TMI's Tom Alford to offer professional insight into what defines successful treasury project management. 

18:27

Audio TMI - ESG: Time to Decide

The pressure to comply with ESG initiatives is being felt by corporates like never before, with ESG-compliance a common concern among treasury departments.

11:41