Bottomline, a provider of automated and digitized services for its 1,200 banking and financial institution (FI) customers, announced on Wednesday (August 11th) the launch of its watchlist. Powered by an application programming interface (API), the real-time solution will be delivered through the company’s Software-as-a-Service technology, the company said in a press release.

The sanctions solution, which is available to FIs around the world, aims to significantly limit false positives, the company said. The software can be integrated with the company’s existing secure payment tools or used as a stand-alone offering. It has a sender, recipient, and counterparty to filter transactions in real time against official sanctions lists, which are built into the software and published by international regulators.

According to Bottomline, watchlist filtering helps FIs comply with various regulations, including anti-money laundering (AML) / anti-terrorism regulations and wire transfers, according to Bottomline. The software also consolidates and automates the control of sanctions on transactions.

The New Hampshire-based company employs more than 2,000 people in 25 offices in the United States, Europe and Asia-Pacific, according to the company’s website.

Bottomline’s latest addition follows a recent report from PYMNTS that the company stepped up its Accounts Payable (AP) automation by linking Paymode-X payers to new card acceptance endpoints through the accounts receivable company. (AR) Billtrust via the commercial payments network.

See also: Bottomline connects B2B buyers to Billtrust card acceptance

In addition to its collaboration with Billtrust, PYMNTS announced in May that Bottomline has partnered with Autobooks to provide FIs with an integrated digital experience and a comprehensive collection of integrated payments and cash lifecycle offerings created specifically for FIs. small enterprises.

Read more: Bottomline, Autobooks team up for SME banking services

In terms of Bottomline’s payment offerings, screening and fraud prevention efforts, the company offers software tools for secure payments, insider fraud and compliance, as well as solutions to combat financial crime, among other services.

“The need for real-time, integrated sanctions intelligence is becoming imperative,” said Arin Ray, senior analyst at Celent’s Securities & Investments practice, in the announcement.

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