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Virtusa and WorkFusion team on AI-powered sanctions screening

September 27, 2017

Via: Finextra
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Virtusa Corporation (NASDAQ GS: VRTU), a global business consulting and IT outsourcing company that accelerates business outcomes for its clients, and WorkFusion, the leading provider of intelligent automation, today announced the launch of an artificial intelligence (AI)-powered sanction screening solution that helps banks reduce operational effort and manage false positives.

A bank’s Office of Foreign Assets Control (OFAC) program plays a critical role in supporting government sanctions lists for preventing payments to designated countries, corporate entities, or individuals. There are multiple government lists and they evolve daily as the number of transactions continues to rapidly rise.

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