GSS brings global financial institutions together to deliver higher standards in compliance, providing a trusted platform to enhance and exchange information. The first service delivers sanctions transaction screening, built on industry standards and improved processes. Services under GSS are easily accessible to everyone, delivering greater effectiveness, improved efficiency and the reduction of friction.
GSS works by digesting financial institution's (FI's) transaction data directly into its cloud ecosystem via a proprietary integration layer. Once the transaction data is uploaded to the secure GSS cloud environment, GSS takes the various submitted data formats and begins to screen the transaction data against selected public and private sanctions lists using a common matching standard agreed with the FIs. Throughout the process, transaction data is being checked against these lists and user-specific risk configurations. The end result is a more effective and higher efficiency transaction screening product which allows users to leverage cloud native technologies and automation for one of their most important compliance processes.
GSS was founded in 2021 to solve cross-industry challenges in financial services where there is material benefit to be gained from:
- Agreeing common standards
- Sharing information
- Delivering solutions via trusted platforms
- Embracing the best of new technology
Starting with sanctions transactions screening, GSS changes the way financial crime is managed by partnering with leading financial institutions and trusted industry partners to deliver effective and efficient watchlist screening.
As well as promoting excellence in compliance, GSS’ sanctions screening solution significantly removes the friction in the customer experience, whilst reducing the information that needs to be shared on individuals.
The solution will perform state of the art, real time watchlist screening using the most advanced technology solutions for list management, alert generation and disposition.
Working with leading international financial institutions and harnessing a leadership team with over 100 years of direct experience, GSS will redefine how compliance can be delivered effectively and efficiently.
Our first customers are in prototype in 2022 and we launch in 2023.
GSS’s promotes excellence in compliance while delivering frictionless customer service.
Founded in 2021 and designed by senior industry experts with more than 100 years of combined expertise in combating Financial Crime, GSS will perform state of the art real time watchlist screening using the most advanced technology solutions for watchlist management screening and automated alert dispositioning.
Our focus is to help banks, Fintechs, and digital platforms perform watchlist screening through a secure GSS interface into the GSS cloud.
The demand for this type of unique screening service originated through conversations with major international correspondent banks who recognised that a collective and collaborative approach to watchlist screening (e.g. payments, securities, trade) had significant advantages over the current model of each FI screening themselves.That demand for these services is strong, has encouraged GSS to deliver its services expected to go live in 2023 with the aim to become the dominant provider of sanctions screening services globally by 2025.
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