SWIFT CSCF 2022 Control 2.9 - Transaction Business Controls
SWIFT define Mandatory Control 2.9 as:
Implement transaction detection, prevention, and validation controls to ensure outbound transaction activity within the expected bounds of normal business.
Are you analysing account-level payment trends daily and making the information available to your employees at the time of payment origination and authorisation? You're not? Chances are, you're falling foul of Control 2.9.
BankClarity analyses previous payment trends to generate a transaction profile. Any profile breaches are flagged to the payment originator/authoriser before the payment is made, allowing for the appropriate action to be taken. Whether that be an update to the transaction profile or halting a payment.
Would you like to learn more about how BankClarity can make your payments process smarter? Email: [email protected]