How can SWIFT screening leverage data analytics and visualization to improve decision making and reporting?
SWIFT screening is a crucial process for financial institutions to comply with global sanctions and anti-money laundering regulations. It involves checking the identities and details of transactions against various lists of sanctioned entities, individuals, and countries. However, SWIFT screening can also pose many challenges, such as high volumes of data, complex rules, false positives, and manual interventions. How can SWIFT screening leverage data analytics and visualization to improve decision making and reporting? In this article, we will explore some of the benefits and best practices of using data analytics and visualization tools for SWIFT screening.