Ready to Defeat Your AML Compliance Obstacles?
Citadel Brings Revolution with Secure Solutions to AML Compliance Problems
Name screening software for payment service providers in the UAE is an automated compliance platform that conducts sanctions, PEP, and adverse media screening. It allows PSPs to check customers, beneficial owners and counterparties against global watchlists and databases to ensure AML/CFT compliance and prevent ML/TF/PF risks.
PSPs supervised by the Central Bank of the UAE (CBUAE) are required to continuously evaluate customer risk and maintain an updated customer risk profile. Name screening software conducts real-time screening and provides instant alerts for changes in customer risk profile.
Further, the software allows configurable matching thresholds to reduce the chances of false positives and help the compliance team focus on genuine risks. Name screening software replaces traditional batch processing, helping PSPs reduce the risk of regulatory penalties and protect their reputation.
Name screening software automates cross-referencing customers against global sanctions watchlists, PEP databases and negative news. It helps prevent onboarding of sanctioned individuals or entities, conduct enhanced due diligence for high-risk customers, avoid penalties, and protect fintechs’ reputation.
Screening Requirement | Sector Challenge | Name Screening Feature | Evidence Generated |
Real-time application screening | Screening at the point of digital application | Real-time sanctions and PEP screening at application | Application screening record, match result, timestamp |
Configurable false-positive management | Managing alert volume at PSP application scale | Tuneable fuzzy matching thresholds by customer segment | Threshold settings, false-positive rate records |
Daily rescreening | Monitoring the active customer book for new listings | Automated daily rescreening of the full customer base | Daily rescreening logs, new hit alerts, timestamps |
High-volume alert triage | Triaging thousands of daily alerts without a backlog | Risk-weighted alert prioritisation with automated triage | Alert triage records, investigation notes, decision logs |
PEP and adverse media screening | Detecting PEPs and negative news at application | PEP and adverse media integrated with sanctions run | PEP match results, adverse media hits, alert notes |
Merchant and business screening | Screening business customers on KYB acceptance | Entity screening for business clients and their UBOs | Business screening records, UBO match results |
Ongoing monitoring | Detecting status changes in the active book | Daily rescreening with new hit alerts within 24 hours | Rescreening logs, alert records, decision trail |
Stay Ready for Every Screening Challenge
Citadel365 helps identify sanctions, PEP, and adverse media from one platform and supports AML compliance.
The following are red flags that name screening software helps detect for payment service providers:
Name screening software should have the following features that help payment service providers in the UAE with faster onboarding and continuous monitoring, ensuring regulatory compliance.
Name screening software should screen customers at onboarding as a mandatory process. It allows identifying high-risk or sanctioned individuals and restricting their access to payment services. Further, the screening results should integrate into onboarding decisions, ensuring verification of every new customer before their account is activated.
Configurable thresholds help reduce alert fatigue by managing high-volume name screening. The software should allow configurable settings to reduce false positives or negatives caused by strict thresholds. Further, name screening software should allow adjustments based on customer segment, geography and transaction size for effective results.
With screening at onboarding, name screening software should automate daily rescreening of customers. The software should check against updated sanctions lists, PEP databases, and adverse media sources in real time to confirm whether the customer’s risk profile remains the same. It should also maintain time-stamped records, retained for at least five years, that can be exported for CBUAE inspections.
Name screening software should help provide alerts for changes in the customer’s profile and should also prioritise alerts. This helps compliance teams investigate high-risk cases first and review low-risk alerts later. Further, the software should filter out false positives to reduce alert fatigue and ensure focus remains on genuine matches.
The name screening software must screen for Politically Exposed Persons (PEPs) and adverse media individuals, along with sanctioned individuals and entities. A centralised platform for screening helps PSPs build a complete customer risk profile and reduces reliance on manual checks.
PSPs may also provide services to merchants and corporate entities; in such cases, the software should screen both the business entity and its beneficial owners. This helps provide a complete picture of who owns or controls the business and helps prevent compliance risks, ensuring alignment with UAE regulatory expectations.
Compliance Starts with the Right Screening Solution
Our software helps identify high-risk customers and sanctioned individuals in seconds.
Citadel365 name screening software automates checks against sanctions, PEP and adverse media sources, helping PSPs stay compliant. The software screens customers and their beneficial owners in real time against the UNSC Consolidated List, UAE Local Terrorist List, OFAC SDN list, and PEP databases.
Further, Citadel365 allows configurable thresholds for fuzzy matching to reduce false positives for high-volume management. The name screening software automates rescreening of all existing customers against the updated sanctions lists, PEP databases and adverse media sources.
Citadel365 provides real-time alerts, and its integrated case management software helps investigate those alerts for further reporting. The software helps prioritise alerts based on their risk level, allowing compliance teams to review important cases first.
Citadel365 also maintains records for every screening and allows downloadable reports for regulatory reviews. Citadel365 is designed for stored value facility operators, retail payment service providers, e-money issuers, payment aggregators, and fintech platforms in the UAE to help them meet AML/CFT compliance requirements.
PSPs should choose name screening software that enables faster onboarding and supports AML compliance.
Payment service providers should ask a name screening software vendor the following questions:
How Strong is Your Name Screening Process?
With Citadel365, payment service providers screen customers at onboarding and throughout the customer lifecycle.
Name screening for payment service providers in the UAE is an essential part of customer due diligence. Payment service providers must screen customers before opening their account and conduct daily rescreening to reduce compliance risks and ensure AML obligations. Citadel365, as a reliable name screening software, helps UAE payment service providers replace manual screening with real-time customer screening. The software supports faster customer onboarding with quicker name screening, automated daily rescreening, and customisable thresholds. Thereby, Citadel365 helps PSPs support faster compliance and strengthen their screening process.
Frequently Asked Questions
Real-time screening checks customers against updated sanctions lists, PEP databases, and adverse media sources to evaluate risks and develop a customer risk profile. It helps PSPs identify high-risk customers, prevent account opening for sanctioned individuals and meet AML compliance obligations.
Configurable thresholds help adjust name matching based on customer type. This helps PSPs reduce unnecessary alerts or false positives, prioritise genuine matches, and manage large-volume applications.
Daily rescreening means automatic checks of all existing customers every day against the updated sanctions lists, PEP databases, and adverse media sources. For a large digital customer base, the software helps identify new matches, generate alerts, and allow time-stamped, exportable reports for regulatory review.
Risk-weighted alert triage means prioritising alerts based on their risk level. It helps compliance teams review high-risk cases first and lower-risk alerts later.
UAE payment service providers must screen customers against the UNSC Consolidated List and the UAE Local Terrorist List, which apply to every person and entity in the UAE. Screening against other international lists, such as the OFAC SDN List and the UK HMT list, is risk based and depends on the PSP’s currency, correspondent banking and customer exposure.
Arjun is the Co-founder and CEO of Citadel, where he leads the company’s vision across technology, business, and regulations. He brings over a decade of experience in building and scaling technology ventures. Arjun holds a B.Tech. in Information Technology and a Master’s in Management, supported by his certification as a Financial Crime Specialist, an uncommon combination that allows him to balance innovation with regulatory requirements.
Having advised leading banks and financial institutions on digital solutions and compliance technology, Citadel continues to grow with an ambition.
