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The divestiture of SQA Consulting's AML division marks the beginning of an exciting new chapter for Regulatory adshjTechnology Solutions as it embarks on its journey to redefine regulatory compliance through innovative RegTech solutions.
Our client, a payments company, had concerns that their transaction monitoring was not effective & could be opening them up to the risk of failing to identify suspicious activity. They were also concerned about their regulatory risk should a regulator investigate & find them to be sub-standard.
A bank performs sanctions screening using some third-party software. Although the screening system appears to be working in that output is created, but the bank quite rightly wants to know if its system: addresses the bank’s risk, is effective, is efficient, is comparable to peer banking institutions.
A major UK retail bank was interested in assessing how effective their customer sanctions screening system was at identifying sanction list names should they occur in their customer base.
SQA Consulting has developed a new screening tool called the Eliminator. This takes your alerts, matches and reprocesses them, applying further logic and rules to eliminate vast quantities of false positives.
SQA Consulting were engaged by a client to assist with the implementation of their new upgraded Screening Solution. In particular, they wanted advice and guidance concerning which screening threshold would work best for them.
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Included within the scope of a recent customer screening assurance review for a client was testing the approach to PEPs.
Replacing an obsolete retail back office, head office & point of sale system that was to be rolled out across Poland & the Netherlands & then a number of additional countries by a trio of integrators on behalf of a major petroleum company, none of the integrators had mature or dedicated testers or business analysts, or believed they needed them.
Encourage the use of Agile methodologies during the development and testing. Bring end-users, BAs, QAs, and SEs of the software product into one table for effective sharing of knowledge on the system and its testing requirements
The group digital banking platform which operated across 4 well known retail banks & was delivering £20m of change per month which needs extensive QA.
A financial institution is concerned that although it believes it Sanctions Screening system is in good working order, it is limited by the data that is being sent to it. Screening systems can manage to work around certain miss-spelling & different data formats, but they are limited in that capacity.
Our client, a large retail bank, was interested in assessing the data quality of their customer data, specifically with respect to understanding how any data gaps or data quality issues might impact the effectiveness of their sanctions and PEPs screening.
A bank performs sanctions screening using some third-party software. Although the screening system appears to be working in that output is created, but the bank quite rightly wants to know if its system: addresses the bank’s risk, is effective, is efficient, is comparable to peer banking institutions.
SQA Consulting was acting as part of a skilled person team that was conducting a Section 166 review on a firm on behalf of the Financial Conduct Authority. The requirement notice from the FCA required the skilled person to review the effectiveness of various key financial crime controls, including Transaction Monitoring (TM).