FinScan®, an Innovative Systems solution and leading provider of advanced anti-money laundering (AML) compliance solutions, has signed UK-based Vanquis Banking Group plc, a leading FTSE All Share specialist bank, to further strengthen its AML processes and financial crime risk management.

FinScan helps banks centralize AML processes through a unified platform for real-time and retrospective name screening, enhancing operational efficiency and customer visibility. Its advanced, customizable matching technology delivers greater accuracy, scalability, and explainability by integrating diverse data sources, improving comprehensive risk assessments.

Paul Blackmore, Head of Financial Crime at Vanquis Banking Group, said: “At Vanquis, compliance and operational efficiency are core to our commitment to responsible lending. Partnering with FinScan allows us to harness advanced technology that aligns with our business goals. Its scalability, configurability, and centralized capabilities make it the ideal solution to optimize our AML processes and support our growth.”

“Unlike off-the-shelf solutions, FinScan offers tailored AML compliance capabilities designed to meet the bank’s specific needs, including simplifying simulation matching for KYC onboarding and monitoring,” said Steve Maul, Chief Revenue Officer of Innovative Systems, Inc. “This partnership marks a significant step forward in further strengthening the bank’s resilience against financial crime while maintaining its unwavering commitment to customer-centric innovation.”