GFT extends Smaragd Compliance Suite with smart parsing

Stuttgart, October 14, 2024 – GFT, a leading provider of digital solutions for the financial sector, announces the launch of a new feature for the Smaragd Compliance Suite. Smaragd is a software solution for financial institutions to combat financial crime, including money laundering, terrorist financing, and fraud.

With the Core Release 2024.2, the solution now supports smart parsing, which enables significantly more efficient evaluation of payment transaction data through context-based analysis and intelligent data processing. This enhancement marks an important milestone for the banking industry, as it noticeably increases precision and efficiency in compliance management.

With smart parsing, the Smaragd Compliance Suite offers an enhanced function for the intelligent processing of payment messages. Previously, the focus was on syntactic analysis of messages in accordance with standardized formats such as the ISO 20022 standards. The new approach now also analyzes the semantic and contextual content of messages, providing deeper insights into the structure of transactions. Smart parsing can thus identify potentially risky transactions even faster and more accurately.

This enhancement makes life much easier for compliance teams. Smart analysis enables early detection of critical transactions while reducing maintenance efforts by eliminating the need to adapt to changing ISO standards. Adjustments can now be made through simple configurations, which increases efficiency and simplifies operations.

Smart parsing marks the shift from purely syntactic to semantic analysis of payment messages. Compliance departments benefit from deeper and more accurate data analysis that uncovers technical errors in transactions and identifies potential sanctions or embargoes at an earlier stage. At the same time, the familiar workflow display in the Smaragd Compliance Suite remains unchanged, allowing existing processes to continue seamlessly.

With this innovation, GFT is strengthening its position as a leading provider of compliance solutions and offering banks future-proof technology that enables them to meet ever-growing regulatory requirements even more efficiently.