A screening configuration refers to creating search defaults that allow businesses to tailor and target their searches by specifying particular lists, alert types, and other criteria. For example, businesses can create a configuration targeting high risk jurisdictions, specific sanction lists like OFAC, or priority adverse media alert categories like fraud.
Configurations streamline screening so businesses can filter out irrelevant results and quickly surface the risk entities that matter most based on configurable parameters. ComplyAdvantage enables granular search configuration through screening configuration so that businesses can tune searches to their specific risk management needs and compliance obligations.
Multi-search configurations can be set up and configured so that it can be selected at the time of screening a person or company. For example, a Low Risk customer configuration might be used for all screens where the customers are from particular countries and a High Risk configuration would be used for all screens from other countries.
Screening configurations allow businesses to have the flexibility needed to minimize false positives whilst ensuring a risk based approach.