INDUSTRY WORKFLOWS · GUIDEUPDATED 2026-03-04
Industry Workflows
Fintech and Payments Counterparty Screening
Support onboarding and transaction controls in fintech and payments environments.
Fintech and payments teams require fast, explainable compliance checks. This workflow supports onboarding, transaction, and monitoring controls for business counterparties.
§01What this workflow covers
SCOPE- Screen counterparties before onboarding and payment events.
- Combine sanctions, ownership, and media-risk checks.
- Produce evidence for compliance and risk committees.
§02Key statistics
DATA- Sanctions jurisdictions covered
- OFAC, EU, UN, UK & more
- ScreenVeritAI coverage model
- Key workflow dimensions
- 5 (Sanctions, Criminal Watchlists, PEP, Adverse Media, UBO)
- ScreenVeritAI workflow model
§03Compliance glossary
TERMS- Sanctions screening
- A control process that checks a person or entity against sanctions and watchlist datasets.
- PEP
- Politically Exposed Person: an individual in a prominent public function requiring enhanced due diligence.
- UBO
- Ultimate Beneficial Owner: the natural person who ultimately owns or controls a legal entity.
§04Authoritative references
SOURCES- 01OFAC Sanctions Lists
U.S. Department of the Treasury
- 02EU Financial Sanctions Database
European Commission
- 03UN Security Council Consolidated List
United Nations Security Council
- 04FATF Guidance on Beneficial Ownership and Transparency
Financial Action Task Force
§05Expert perspective
NOTE“Risk controls perform best when sanctions checks and ownership context are reviewed together.”
§06Frequently asked questions
Q&A- Is this suitable for high-volume fintech workflows?
- Yes. The workflow is designed to support repeatable, operational screening.
- Can this be used for merchant and partner checks?
- Yes. It can be used for merchant, partner, and vendor due diligence.
- Does this support ongoing monitoring?
- Yes. Continuous re-screening can be applied to active counterparty portfolios.
- Can this support audit-ready controls?
- Yes. Evidence-backed outputs are suitable for compliance documentation.
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