FinScan enhances real-time payment screening solution

Innovative Systems boosts FinScan Payments to accelerate transactions while strengthening financial crime prevention

FinScan®, an Innovative Systems solution and leading provider of advanced anti-money laundering (AML) compliance solutions, has enhanced its payment screening solution, FinScan Payments, to amplify payments risk reviews, accelerate payment workflows, and seamlessly integrate with payment ecosystems to support faster, frictionless payment operations on a global scale.  

Recent Datos Insights research indicates that 91% of surveyed financial institutions (FIs) are making significant or moderate investments in payment modernisation. However, many still rely on legacy AML compliance systems built for fewer payment rails, most of which are not aligned with real-time settlement workflows.

As digital payments soar, new payment rails and instant settlement infrastructures emerge globally, and financial crime risks increase, FinScan Payments is helping FIs, fintech, and other organisations stay ahead of complexity brought by such shifts, ensuring seamless, efficient transaction screening to combat money laundering, enhance customer experiences, and meet regulatory requirements. Its latest enhancements include an enhanced architectural redesign to meet high-throughput transaction screening demands, ongoing support for additional integrations as organisations support new payment messages, and a redesigned user interface to accommodate complex workflows and accelerate review times for different payment messages.

Becki LaPorte, strategic advisor in the fraud and AML practice at Datos Insights, said: “Today’s payment arena requires real-time AML compliance as evolving regulations demand deeper scrutiny of transactions. In a fast-changing geopolitical and tech landscape, compliance teams must screen payments against the latest sanctions, PEP, and dual-use goods lists to stay ahead of illicit activity. FinScan Payments is well equipped to support faster payments while effectively controlling risk across domestic and cross-border ecosystems.”

Deborah Overdeput, chief marketing officer of Innovative Systems, Inc., said: “To keep pace with evolving payments, organisations must streamline workflows, update their screening solutions, customise watchlists, and execute compliance checks in milliseconds with accurate results for instant payments. FinScan Payments empowers FIs, neobanks, PayFacs, fintechs, and other organisations to block high-risk transactions in real time, facilitating compliance without delays. With configurable alerts and seamless integration into payment workflows, it keeps transactions secure while meeting time-sensitive review thresholds.”

Image: Thomas Lefebvre on Unsplash

Robert Welbourn Robert Welbourn is an experienced financial writer. He has worked for a number of high street banks and trading platforms. He's also a published author and freelance writer and editor.