Facctum is a risk analytics platform that employs data modeling techniques to provide businesses with insights into potential operational risks. By enhancing decision-making processes, the platform helps organizations improve efficiency and increase profitability.
Funding
Funding not disclosed
Founders
Product
Problem
Financial institutions face increasing challenges in maintaining effective financial crime compliance due to data quality issues, scalability limitations, the need for timely regulatory updates, high false positive rates, and fragmented systems. These challenges lead to increased operational costs, regulatory risks, and inefficiencies in screening processes.
Solution
Facctum offers an AI-powered AML screening and compliance platform that streamlines and automates sanctions, customer, payment, and alert screening. The platform unifies data from diverse sources, such as watchlists, customer records, and transactions, into a single, harmonized dataset. By leveraging AI and machine learning, Facctum reduces false positives, accelerates compliance workflows, and provides real-time insights. Its cloud-native architecture ensures scalability and rapid deployment, enabling financial institutions to adapt to evolving compliance needs and minimize latency.
Target Audience
Facctum primarily serves banks, payment service providers, and FinTech companies seeking to enhance their AML screening processes, reduce operational costs, and maintain regulatory compliance.
Features
- AI-driven data extraction transforms unstructured data into actionable profiles
- Watchlist management simplifies the ingestion, reconciliation, and enrichment of millions of data profiles from diverse sources
- Real-time screening technology delivers potential matches with low latency
- Automated reconciliation of regulatory lists, including rectifying missing or mismatched records, and deduplication across commercial and internal lists
- Cloud-native architecture for rapid deployment and scalability
- REST APIs and OAuth 2.0 for secure authentication and seamless integration with existing systems
- AES-256 encryption for data at rest and TLS v1.2 for data in transit
- ISO/IEC 27001:2022 certified with stringent data management practices