Payee Community Screening (PCS)

Screen Global Payment Beneficiaries with Trusted Community Data

Payee Community Screening (PCS)

Screen Global Payment Beneficiaries with Trusted Community Data

Real-Time Verification & Confirmation on Global Payment Beneficiary Data

TIS’ Payee Community Screening (PCS) solution works by leveraging trusted payment data across a worldwide community of enterprises and institutional partners to serve as a comprehensive library of authenticated transaction and beneficiary information. As clients generate or transmit payments through TIS, this fully GDPR-compliant solution then compares the underlying beneficiary and payments data against this comprehensive record of past transactions in order to identify any inconsistencies. Data that does not match these records is flagged and sent to a resolutions queue.

In an environment where subterfuge and deception are a criminal’s main assets, these community screening techniques are essential for ensuring that fraudsters cannot bypass your controls simply by infiltrating those of a supplier or vendor within your network. They also ensure that as soon as fraudulent or suspicious payment information is identified by one enterprise, the data is shared across the community for purposes of alerting clients about subsequent payments to that account or beneficiary.

Global Payment Validation

Client payments are screened against verified community data from 2 billion+ bank accounts across a network of thousands of participating institutions across the globe.

Authenticated Bank & Beneficiary Data

Leverages data across all community members to identify suspicious payment details by comparing new payments data against a historical record of verified transactions.

Screens Payments Across Any Connected System & Bank

Works across any ERP, HR, & Treasury System. Protection is bank-agnostic and works for payments delivered to any financial institution that TIS can connect with (11,000+ globally).

24/7 Coverage of Payments with Zero Downtime

The PCS network provides 24/7 continuous screening of all payments executed by participants in the community with virtually zero downtime.

Community-Based Fraud Prevention & Detection

Any “true positive” or otherwise fraudulent payments identified through the PCS network are automatically flagged for all other community members moving forward.

Flexible Screening Configurations

The thresholds and parameters for the scope and parameters of PCS can be customized based on an organization’s business profile and unique needs.

About the Scope & Breadth of Our Global Payee Community Screening Solution

PCS leverages community data from over 2 billion* bank accounts and thousands of financial institutions in order to verify the legitimacy of new payments. TIS can leverage the PCS network to scan any of the hundreds of thousands of client payments managed through our platform annually, which accounts for more than $2.7 trillion in volume. Our partnerships with various financial institutions enhances these checks by additional account validation checks with a network of global banks, leveraging the SWIFT network and blockchain technology to verify global beneficiary and payments data.

Learn About Our Other Compliance & Security Tools

The Payee Community Screening (PCS) solution is part of a series of advanced fraud prevention and compliance monitoring solutions available through TIS.

Download the Payee Community Screening Factsheet

Download our dedicated Payee Community Screening factsheet for more information about the associated workflows, capabilities, and benefits.

How PCS Fits into Our PayOptix Security & Compliance Suite

Understand how the Payee Community Screening solution fits into the broader TIS portfolio of payments security, fraud prevention, and compliance management capabilities.

Frequently asked questions (FAQs) about our Payee Community Screening (PCS) solution

The TIS team regularly fields questions from CFOs, treasury, and finance practitioners regarding the use of our Payee Community Screening (PCS) solution and the benefits and advantages it brings. More information about components related to hosting, configuration, setup, reporting, integrations, and more are covered in the FAQs below. We encourage you to contact our team with any additional questions to ensure you understand exactly how our solution can be applied in your unique environment.

The PCS network can be accessed by clients directly through the TIS cloud solution. TIS manages the screening of all client payments directly through the solution, and our team maintains the data, workflows, and integrations associated with its usage. The solution is part of a broader suite of sanctions screening, payments security, and compliance management capabilities offered by TIS.

Any payments that are screened by TIS and are identified as containing suspicious payment details are immediately flagged and sent to a resolutions queue for inspection. Verified client admins or users can then inspect the payment along with the suspicious information to determine whether it is a “false” or “true” positive. Payments that are found to be fraudulent are halted, and the suspicious details are logged within the community network so that other enterprises can better protect themselves from the same threat.

No TIS client payment data is ever utilized within the PCS network without their explicit consent. The data leveraged across the network is anonymized for all clients so that no sensitive or otherwise identifiable information is ever disclosed. The network only utilizes authenticated payment beneficiary details vs non-authenticated details for purposes of better identifying verified vs fraudulent information for other members of the network moving forward.

The PCS solution screens outbound client payments for suspicious beneficiary and bank account details, including the vendor / supplier-level information and all underlying bank account data. If the payment information for a specific supplier or bank do not match what is on record by other members of the community, then the payment is flagged and halted for further inspection. This includes flagging payments to known suppliers or banks with new payment details, as well as payments that contain altogether new supplier or bank details that have not been leveraged by the PCS community before.

Get In Touch

Interested in how TIS can transform your liquidity, payments, compliance, and security operations? Send us a message and one of our experts will quickly be in touch!