OFAC Checker: An innovative OFAC screening solution for businesses
OFAC compliance requires prompt and proactive process optimization to stay ahead of the curve. The manual OFAC screening process is ripe for human error. Traditional screening methods cannot keep up with today’s business demands. The complexity of OFAC screening tools necessitates coding knowledge and proper implementation and is difficult to navigate.
Financial institutions should incorporate OFAC Checker into their workflow to address these inefficiencies. It improves end-to-end processing efficiency by automating data transformation downstream and reducing manual data entry. It performs OFAC checks on individuals and entities against the most recent sanctions list to ensure that they comply with OFAC. It offers several next-generation features, including,
Unlimited OFAC checks on individuals and entities using any Salesforce standard or custom object
Batch processing for screening multiple individuals and entities at a time
Comprehensive OFAC report with charts and graphs of each activity
OFAC dashboard for easy report interpretation and monitoring
Updated OFAC sanctions list
The application offers a scalable API integration to your existing workflows and apps. Besides eliminating the complex, manual steps and reducing the risk of human error, OFAC Checker can help businesses establish customized rules according to business policies. The notable benefits of using OFAC Checker are as follows
It automates the entire OFAC screening process
It mitigates the risk of business with any sanctions listed people of org
It removes ambiguous OFAC screening steps
It requires no coding
It’s easy to deploy and use
It increases the screening efficiency and speed
It helps in maintaining a compliant environment
OFAC Checker enables businesses to make more informed decisions about potential customers while continuously monitoring existing customers to ensure compliance and alert you when their status changes. The application is available on Salesforce AppExchange.
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