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Smaragd Compliance Suite: TCM – "Bankmagazin’s" Solution of the Month

Smaragd Compliance Suite: TCM – "Bankmagazin’s" Solution of the Month

28 March 2024

Smaragd TCM is the winning solution in the month in Bankmagazin. It guarantees compliance with regulations and prevents embargo violations by intelligently checking transactions. With a market-leading low false positive rate of less than one per cent, it is the key to efficient transaction screening in 57 institutions.

28 March 2024

Two colleagues working together on a project, discussing ideas while looking at a laptop in a modern office setting. — Professionals collaborating on a project in a modern office environment, emphasizing teamwork, communication, and productivity in business.

Stuttgart, 28 March 2024 – Smaragd TCM is the winning solution of the month in Bankmagazin.

Smaragd TCM (Transaction Controlling & Monitoring) enables banks, insurance companies and other organisations to comply with applicable regulations and avoid embargo violations and financial sanctions.

Bankmagazin is the leading trade journal for the banking sector in German-speaking countries. The independent reporting on the financial sector and banking practice reaches readers from all three pillars: co-operative institutions, savings banks and private banks. It is published ten times a year in print and e-magazines. The average circulation in 2022 to 2023 was 8,250 print, 6,343 tvA and 1,821 subscriptions.*

Smaragd TCM checks payment transactions and customer data for embargo violations and financial sanctions against international, national and institution-specific lists and uses PEP lists to identify politically exposed persons. Smart parsing and an error-tolerant similarity search enable precise and automated analysis of payment transaction messages. An Intelligent Alert Classifier (IAC) supports the evaluation of alerts, thus reducing the effort required to process alerts and ensuring the continuity of decision-making.

The compliance solution has a below-average hit rate of less than one per cent, due to the in-house development and coordination of the various components. The software is already being used by 57 institutions, including the German Bundesbank, the Austrian National Bank and the Swiss National Bank.

You can read the full German article in the latest issue of Bankmagazin here. Please be aware that the article is behind a paywall.

Here you can find more information about the Smaragd Compliance Suite on our website.

“Smaragd not only offers compliance with regulatory requirements, but also effective tools in the fight against financial crime and money laundering. For financial institutions and companies, Smaragd is the key to a transparent and secure business world.”

Kathrin Günther

GFT Software Solutions