Transactional Screening: The Ultimate Guide for Organizations

Transactional Screening: The Ultimate Guide for Organizations

Written by Alison Lurie, In Technology, Published On
October 9, 2023

Money laundering cases prevail nowadays, so transactional screening is performed to combat these fraudulent activities. The activities of the customers are continuously monitored to measure their risk rate. The users are segregated as high risk and low risk,  organizations build the relationship with their clients according to the risk rate. When companies have the entire information of their users, the probability of the scam is mitigated. Companies can know their business partner to understand the products, services, and strategies in which the other company is involved.

Role of e-Transaction Screening


E-transaction aids the companies in affiliating with only verified clients; the onboarding of the users is done through biometrics. For this purpose, the company performs the document verification, and clients are asked to upload three to four images of their legal papers. The document includes an identity card, residential address, bank statement, and utility bills. After onboarding, clients have to go through transaction screening solutions; in this way, the company knows about the source of income of their users and the activities in which they are involved. Money laundering is done when the customer’s operations are unknown. Companies can integrate transaction screening solutions to combat these fraudulent activities and data breaches. Satisfied clients do not shift to other companies; they refer the company to others. Businesses can reward their loyal clients by observing their frequent visits to shop through transactional monitoring solutions.

Benefits of Transaction Screening

  • Fraud Detection

The main feature of e-transaction screening is it aids in detecting crime; data breaches and money laundering are mitigated through it. The monitoring feature of their solution reduces the expected future financial crimes.

  • Compliance With Regulations

The companies must comply with rules and regulations made by the government because they are for the betterment of the companies. It is only possible for organizations to reduce the crime rate by following the Know Your Customer (KYC) regulations. In 2022, Indonesia faced a $4.79 billion loss due to cybercrime and is expected to reach 6.5 billion US dollars in 2028.

  • Enhanced Security

The surveillance of the financial sectors is essential because they are always at the edge of facing fraudulent activities. The transaction process cycle ensures that only legal clients become part of the bank. Investment companies can only succeed with performing transactional screening because any illegal client can get them in trouble. Hence, it is better to properly ensure that the user is not involved in fraudulent activities.

  • Reduced Miscellaneous Expenses

The transaction reporting system is done through artificial intelligence and machine learning; these solutions are very advanced and do not require manual assistance. The system performs the entire task; in this way, the company can reduce its miscellaneous expenses. Less labor is required; the company can utilize its workers in any other project.

  • Research Purpose

When a company onboarding clients, they perform document verification; the client’s entire data is recorded in the organization’s database. The business can use the information in their system for research purposes. They do not have to collect the data from clients; it is very hectic and time-consuming, and significant revenue is required.

  • Improved Efficiency

The organization’s daily operations are enhanced through it, as fewer activities are required, and the biometric solution performs the transactional screening of the customers.

  • Improve Brand Image

When the companies perform transactional screening, they observe the workings of the clients; in this way, they are less prone to data breaches. When the company is less exposed to crimes, the organization’s image is improved as people prefer the company that safeguards them against cybercrime.

  • Save Cost of Fraudulent Activities

When the company is exposed to crime, it faces the hefty cost of fraudulent activities, and the organization has to bear the loss. The company’s revenue is affected by it, and in the long run, it is difficult to maintain its position in the market again.


Transactional screening safeguards the credentials of the company and the client, as only authentic users affiliate with the organization. The operations and activities of the clients are known through transaction screening, and the company keeps updated knowledge of the client. In this way, they better interact with them, and a friendly relationship with the customer is built when a business has the latest information about the user. A considerable increase in the revenue of the companies that are performing transactional screening is observed because these solutions smoothen the activities of the company and aid in retaining clients for the long term.

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