Firco Continuity

Firco Continuity is FircoSoft’s flagship watch list filtering solution designed to ensure compliance and detect and block transactions including listed parties. Firco Continuity is multi-alphabet ready and can be interfaced to any banking application, operates on all major platforms, and filters any message type including ACH, SWIFT, FEDWIRE, and SEPA. The solution can filter against any sanctions list (such as EU, OFAC, HMT, and UN), third-party lists (such as BankersAccuity, Dow Jones, World-Check or WorldCompliance) or internal watch lists.

1. FircoSoft - Firco Continuity | 1© 2015 FircoSoft, All Rights Reserved | www.fi rcosoft.com | info@fi rcosoft.com
Complying with sanctions regulations to protect your
fi nancial institution against risks, fi nes, and reputational
damage is an ongoing challenge given the changing
regulatory landscape and increase in customer and
transaction volume.
That’s why it is vital for fi nancial institutions to look to
experts to ensure sanctions compliance and eliminate the
risk of doing business with high-risk customers or entities.
For over 20 years, FircoSoft has been committed to
innovating and enhancing its fl agship watch list fi ltering
solution to address new business requirements and keep
ahead of regulatory change.
Today, FircoSoft has the largest team in the world focused
on watch list fi ltering – serving 2,000 customer sites in
85 countries including 8 of the world’s top 10 fi nancial
institutions.
Market Leader
Since 2000, FircoSoft has been ranked #1, best-of-
breed, and received numerous accolades and industry
recognition for its watch list fi ltering solution by many
organizations and analyst fi rms including AITE, Celent,
Chartis and CEB TowerGroup.
Firco Continuity
Firco Continuity is FircoSoft’s fl agship real-time
transaction screening solution designed to ensure
compliance and detect and block transactions including
listed parties. The solution accepts any transaction format
and will determine in milliseconds if there are names,
companies, vessels, addresses or specifi c codes that
match the blocked-parties lists selected. Firco Continuity
Firco Continuity Key Benefi ts
Focused
Filtering
Expertise
Powerful
Filtering
Engine
Very Low
False
Positive
Rate
Partners
Closely with
Customers
Supports All
Formats for
Centralized
Filtering
FIRCO CONTINUITY
Real Time Transaction Filtering
FircoSoft - Firco Continuity

2. FircoSoft - Firco Continuity | 2© 2015 FircoSoft, All Rights Reserved | www.fi rcosoft.com | info@fi rcosoft.com
list in Katakana, or an Arabic list against a Greek list, for
example. The complete Firco Continuity environment is
UTF8 Ready and accepts double-byte characters.
The solution also provides the ability to search for
countries under embargo. When a country under
an embargo is added to the consolidated list, the
fi ltering engine will look for all the spellings of Sudan,
for example, defi ned within the internal
dictionary containing all the main cities
of Sudan as well as Sudan bank codes.
The internal dictionary is enriched on an
ongoing basis.
Flexible Interface
Firco Continuity provides a web-based
user interface that makes it fast and easy
for operators to investigate and make a
decision before cut off. Decision workfl ow
is totally confi gurable enabling the
implementation of very diverse business
processes.
Users can easily customize screens to
adapt to their business needs and individual preferences.
They can select, change, sort, remove, add, fi lter and
position columns as they wish. Users can also share
their views with other members and export data into a
CSV fi le. Firco Continuity also provides a graphical view
of alerts, messages and resolution progress to gain
better insight into overall system status and operation.
Alert Review and
Decision Workfl ow
When there is a match to the list, an alert will be
generated. The solution can have several alerts,
including name and country, on a single entry. If one
or several alerts are found on a transaction, it will be
stopped for manual review. All alerts are presented to
the user on a front end, displaying clear information on
customer transaction details and on the list details in
order to expedite decision making. Users will review
the alert and decide to either “pass” the transaction so
that it goes back into the processing workfl ow, post as
“pending” for further investigation, or post as “failed”
to block the transaction. Workfl ow routes are fully
confi gurable to match your organization and processes.
is multi-alphabet ready and can be interfaced to any
banking application, operates on all major platforms, and
fi lters any incoming or outgoing transaction and type
including SWIFT, FEDWIRE, and SEPA. The solution can
fi lter against any sanction list (such as EU, OFAC, HMT,
and UN), third-party lists, such as Accuity, Dow Jones or
World-Check, or internal watch lists.
Powerful Filtering Engine
FircoSoft’s powerful fi ltering engine determines in
milliseconds if the transaction contains names,
countries, companies, vessels or banking codes that
match the blocked-parties lists selected. By utilizing
a combination of artifi cial intelligence, fuzzy logic and
your choice of 39 algorithms, customers can adapt
the behavior of the fi ltering engine to match their risk
appetite while keeping a very low false positive rate.
The engine compares every word of the transaction
against the consolidated list using fuzzy logic search on
names and geographic information such as countries
under embargo, and string matching search on BIC
Codes and passport numbers. The fi ltering engine then
only retains matches that contain enough relevant
information to generate an alert.
Hits detected are then qualifi ed by the business rules
engine. Rules automatically apply the business logic in
place and can eliminate false positives or prioritize hits,
for instance hits on high value payments or very sensitive
lists such as the embargo on Iran.
The fi ltering engine also supports transliteration, enabling
you to fi lter data in Russian Cyrillic against a Japanese
Firco Continuity Decision Screen

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Segregate Regions and
Business Lines
The solution also offers the ability to segregate data
between regions and business lines. Each transaction
can be associated with a unique unit by the banking
application, where users can only access messages
from units in which they belong. A user can belong to
several units and user actions are allowed based on user
access rights and the status of the message.
Manage and Consolidate
Lists
Firco Continuity provides a list manager to consolidate
multiple lists in a repository enabling users to enrich and
clean the lists and to optimize the performance of the
fi lter.
Test and Model Prior to
Production
Firco Continuity also provides an off-
line quality assurance tool used to test
and document changes to the list, rules
and settings prior to implementing those
changes into production. This quality
assurance tool is also used to easily identify
and test good guys and exceptions created
to eliminate false positives, and obtain
exactly the expected screening behavior
matching your risk appetite.
Set Business Rules to
Reduce False Positives
The solution also offers a rules editor for creating
business rules to automatically eliminate false positives.
Users can easily set parameters to enhance and
optimize the fi ltering process.
Reporting and Audit Trail
Firco Continuity offers a variety of reporting options from
instant reporting on one transaction to complete end of
day reporting. Reports are fully customizable based on
templates that can be modifi ed using key words, and
can include fi ltering activity on alerts, for example, or
user activity including each decision made. Reports can
be easily emailed or exported into MS Word, Excel or
XML. Firco Continuity also provides an audit trail where
each user action is logged and stored in a database –
from login to report generation and decisions.
Firco Continuity also provides an optional Firco Analytics
module that includes a reporting data mart enabling
access to any reporting tool such as Business Objects
or Cognos. With the Firco Analytics module you can
easily schedule daily, weekly or monthly reports delivered
by email, including drill-up or drill-down reports tailored
to any level of detail or information required.
“FircoSoft’s expertise in watch list
fi ltering, the fl exibility of its solutions
and the solution’s integration
capabilities made it the key partner to
help us achieve our goals.”
Eliezer Chamdi
Head of Banking Services Center
Leumi Bank
Firco Continuity Advanced Visualization

4. FircoSoft - Firco Continuity | 4© 2015 FircoSoft, All Rights Reserved | www.fi rcosoft.com | info@fi rcosoft.com
Direct Connectivity to
Banking Applications
The solution offers direct connectivity to the industry’s
most popular banking applications including SWIFT
Alliance Access, PEP+, MTS, AMH and TurboSwift to
speed deployment and improve maintainability to match
regulatory changes.
Filtering Integration
Major banking industry players including Misys
and Bottomline Technologies have integrated Firco
Continuity into their application to offer watch list fi ltering
capabilities.
Professional Services
and Training
FircoSoft experts provide a range of services including
fi ne tuning for false positive reduction, installation,
integration, and testing to develop the full potential of
your solutions. FircoSoft also offers high-quality training
courses given by professional trainers from beginner
sessions to detailed technical classes held on your
premises or at FircoSoft offi ces. The company also offers
Certifi cation programs to recognize the profi ciency of
utilizing the Firco Continuity solution.
Advanced Modules to
Increase Productivity
Firco Continuity also offers add-on modules with
advanced features to improve system control and
increase productivity:
Stripping Detector - identify and block amended
payments, and protect your fi nancial institution
against processing payments that have been
purposefully altered.
Pairing Manager - pair messages related to the
same transaction, for instance a cover payment
MT202 will be held until the funds transfer MT103 is
released by the operator.
Decision Reapplication - automate previously
made decisions (i.e., “learning” from the decisions
made by users, so that the next time a similar
transaction comes through, manual review is not
required).
Workfl ow Accelerator – automatically prioritize,
route and escalate alerts (for example, routing hits on
an embargoed country directly to a compliance- level
reviewer) with a confi gurable workfl ow router.
Business Activity
Monitoring
Firco Continuity also offers business activity monitoring
(BAM) with Firco BAM to deliver enhanced operational
control and real-time insight into complex, high-volume
watch list fi ltering environments. Powered by Systar,
the leading provider of BAM solutions to the fi nancial
industry, Firco BAM enables customers to proactively
identify and address potential issues before they impact
their operations and customers.
FircoSoft has been awarded the SWIFT
Alliance Add-on Label since 2001
Certified
Application
2015
Screening
Add-on
Alliance
515/EN/A4