ARTICLE
Mambu now supports AML screening for ISO 20022 Credit Transfers
3 August 2023
Sanctions Screening and Transaction Monitoring are vital components of Anti-Money Laundering (AML) practises that banks and financial institutions must adopt to meet regulatory standards.
To help our customers boost compliance, effectively screen and identify threats and increase straight-through payment processing without compromising on risk, the Mambu Payment Gateway now supports AML screening for ISO 20022 Credit Transfers. Seamlessly integrate Mambu with your own screening and monitoring solutions, or explore integrations with our partners through our dedicated portal.
Customers can now screen ISO 20022 Credit Transfer Payments in all currencies and can easily detect and address any potential suspicious payments swiftly.
- If a payment is suspected to be involved in illicit activities, Mambu can easily block the funds, preventing any further unauthorised transactions.
- In the case of blacklisted payments, Mambu can freeze the funds by redirecting them to a predefined “Suspense Account” while the external third party AML provider analyses the payments details ensuring compliance and safeguarding our customers’ financial interests.
For more information about Mambu, visit www.mambu.com or learn more about the Mambu Payment Gateway on our dedicated support page.
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