Brewin Dolphin, an independent private client investment
firm, has begun using software fromDatanomicsto support its effort to
comply with thethird EU Money Laundering Directive.
The directive requires financial institutes to screen its
customers to check against a database of known terrorists.
Lillian Brown, divisional director for complaince at Brewin
Dolphin, said the software replacs a manual process.
The Datanomic software provides templates for matching against a
number of different lists. Brown said, "We wanted to automate what
is an intensely administrative process whilst eliminating human
error."
Using Datanomic's software, she said, the company is now able to
screen in excess of half a million contacts on a weekly basis.
