The software is expected to screen up to 400,000 client records each week
St James’s Place, a financial consulting and services firm, has selected Datanomic’s dn:Director Sanctions and PEP Screening software for client screening in compliance with anti-money laundering legislation and know-your-customer regulations.
St James’s Place Wealth Management Group will be deploying the Datanomic software platform in 2009 to the financial crime team. The software is expected to screen up to 400,000 client records each week.
Datanomic said that its dn:Director Sanctions and Politically Exposed Persons (PEP) Screening software enables organizations to identify heightened-risk entities within their customer bases.
Debra McKenna, deputy money laundering reporting officer at St James’s Place, said: Legislation mandates that we systematically screen our entire client database against sanctions and PEPs. We performed an in-depth evaluation of screening software lasting several months and selected Datanomic’s dn:Director Sanctions and PEP Screening software based on its technical strengths and market leadership. The Datanomic software will enable us to better understand our clients, and ensure we remain compliant with stringent anti-money laundering legislation.