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About FinScan
The multilingual screening software provides firms with comprehensive screening tools that counterchecks against millions of records at a single time. FinScan enables business admins to load their records and homogenize incomplete or false data for more efficient results. It also lets banks access precise matches through configurable matching rules. The platform allows entities to filter alerts with an intelligent safe list to stop repetitive reviews and improve output.
FinScan helps firms save on operational and fraud occurrence costs by automatically stopping suspicious incoming and outgoing transactions. Institutions can configure alerts based on the involved amount, time, transaction type, and other priority elements. It also allows asset managers to resolve issues faster and efficiently by reviewing the alerts of different data sets from the same point. The software also leaves a clear audit trail to help explain company decisions and actions to regulatory agents or bodies.
FinScan pricing
FinScan does not have a free version and does not offer a free trial.
Starting Price:
Not provided by vendor
Free Version:
No
Free trial:
No
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FinScan Reviews for UK Users
Feature rating
5 reviews of 13
View all reviews
Eugene
- Industry: Insurance
- Company size: 51–200 Employees
- Used Daily for 6-12 months
-
Review Source
5
Reviewed on 10/11/2022
Quite easy to interface with our existing systems
Very positive, and very good value for money compared to other sanctions/AML tools we've used in the past.
Pros
From an integration/implementation standpoint, Finscan's documentation was concise and provided all the information needed to quickly start using their test environment.
Cons
Certain features that one would expect to be available as standard, such as deletion of names that no longer need to be scanned, need an implementation period of a couple weeks.
Alternatives Considered
LSEG Risk IntelligenceReasons for Choosing FinScan
The combination of features and cost offered.Switched From
LSEG Risk IntelligenceReasons for Switching to FinScan
The combination of features and cost offered.Response from Innovative Systems
Thank you for your feedback, we are glad to know you are enjoying your experience with us and we will take onboard your valuable comments effectively. As always, our dedicated Customer Success and Account Management Teams are at your disposal to continuously improve your AML workflow for efficient and reliable screening.
Replied 30/11/2022
richard
- Industry: Insurance
- Company size: 5,001–10,000 Employees
- Used Daily for 2+ years
-
Review Source
5
Reviewed on 16/11/2022
Heavy User of FinScan
We utilize FinScan for our full sanctions screening (Some PEP as well) functionality, which we utilize both domestically and internationally. Additionally, FinScan retains our entire portfolio to allow for full, regular screening, which covers all updates & changes made by all of the various watch lists.
Pros
The case management portion is good to use. Sanctions & PEP screening, which utilizes the World-Check database is very thorough, as we're an international organization this is critical.
Cons
Reporting needs a lot of work. It has gotten better but need more user options when creating reports.
Response from Innovative Systems
Thank you for your feedback, we are glad to know you are enjoying your experience with us and we will take onboard your valuable comments effectively. As always, our dedicated Customer Success and Account Management Teams are at your disposal to continuously improve your AML workflow for efficient and reliable screening.
Replied 30/11/2022
Diariatou
- Industry: Nonprofit Organization Management
- Company size: 11–50 Employees
- Used Monthly for 1+ year
-
Review Source
3
Reviewed on 14/11/2022
Asmae
Protecting the organization against corruption, terrorism and money laundering.
Pros
It meets the expectations of our donors.
Cons
Not really user friendly and too technical vocabulary. It makes things hard to understand, you don't know which menu to use instinctively.
Response from Innovative Systems
Thank you for your feedback, we will take onboard your valuable comments effectively. In our upcoming version 6.6 we have addressed how you review matches to make the process more user friendly and hope this will help. As always, our dedicated Customer Success and Account Management Teams are at your disposal to continuously improve your AML workflow for efficient and reliable screening.
Replied 01/12/2022
Roger
- Industry: Insurance
- Company size: 11–50 Employees
- Used Daily for 2+ years
-
Review Source
5
Reviewed on 10/11/2022
Ludlow Review
Good
Pros
Easy of use once set up and all search options are flagged
Cons
Continually having to tick features when accessing search
Response from Innovative Systems
Thank you for your feedback, we are glad to know you are enjoying your experience with us and we will take onboard your valuable comments effectively. As always, our dedicated Customer Success and Account Management Teams are at your disposal to continuously improve your AML workflow for efficient and reliable screening.
Replied 30/11/2022
Susan
- Industry: Insurance
- Company size: 501–1,000 Employees
- Used Daily for 2+ years
-
Review Source
4
Reviewed on 16/11/2022
Long term partner
We have used Finscan for over 10 years and are now looking to upgrade to the latest version. We have always been happy with the product and service.
Pros
Product is easy to use. Great technical support.
Cons
Would like to group some of the results more.
Response from Innovative Systems
Thank you for your feedback, we are glad to know you are enjoying your experience with us and we will take onboard your valuable comments effectively. As always, our dedicated Customer Success and Account Management Teams are at your disposal to continuously improve your AML workflow for efficient and reliable screening.
Replied 01/12/2022
