Our growing cross-border payment platform requires an advanced AML/KYC solution. Key requirements include real-time screening, UBO identification, sanctions list monitoring, and API integration capabilities. We process transactions in multiple currencies across ~50 countries. Seeking proposals from established vendors. Please provide brief overview of your solution and contact for RFP document.
Sounds like a significant undertaking. Have you considered whether a single vendor can truly excel in all those areas across 50 countries, or if a modular approach with specialized providers might be more effective?
We use a solution that handles real-time screening and UBO fairly well, but the multi-currency aspect for 50 countries adds a layer of complexity. Make sure to probe deeply on their global coverage and data sources.
Good luck with the RFP! Real-time screening and sanctions monitoring are non-negotiable these days. API integration is key too, don't underestimate that. A smooth integration saves a lot of headaches later.
Our platform also dealt with this challenge a few years ago. We found that the scalability of the solution, especially for UBO identification across such a diverse set of jurisdictions, was a major differentiator during our selection process.