Banking and Financial
OFAC and Sanctions Compliance for Banks and Financial Institutions
Meet evolving compliance obligations while delivering a first-class customer experience. OFAC API is the industry standard real time sanctions and watchlists compliance.
Banking and Financial Institutions
RESTful API services are flexible and can be quickly integrated into existing business workflows. Configuration is minimal and screening logic can be tailored to your industry, region, and requirements. View the full list of available sanctions lists and data sources.
Accelerate Client Onboarding
Automate high-volume, real-time sanctions and PEP screening to accelerate client onboarding without disruption.
Reduce Screening Overhead
Screening logic customizations reduce false positives and the manual review burden associated with sanction match reviews.
Developer-Friendly Integration
Modern, developer-centric web services integrate quickly into existing systems and 3rd party products.
Wire and SWIFT Screening
Perform real-time, high-volume screening of SWIFT, International ACH, and Fedwire transactions against OFAC and global watchlists.
Ongoing Customer Monitoring
Screen large customer databases on an ongoing basis or trigger rescreening automatically when sanctions lists update.
PEP and Enhanced Due Diligence
Add politically exposed person (PEP) screening to onboarding and transaction flows to meet enhanced due diligence requirements.
Authoritative Sanctions Data and Expertise
Financial institutions are at the forefront of financial crime prevention, and evolving KYC and AML requirements present ongoing challenges. OFAC API allows you to provide a seamless digital experience.
Our industry-trusted API provides flexible solutions to the most common banking and financial compliance challenges, including:
- Office of Foreign Assets Control (OFAC) Regulations
- FFIEC BSA/Anti-Money Laundering (AML) guidelines
- Financial Crimes Enforcement Network (FinCEN)
- European Union 5th Money Laundering Directive
- EU External Actions and Consolidated Sanctions List
- U.S. Department of Commerce – Bureau of Industry and Security (BIS DPL)
Cost-Effective at Any Scale
OFAC API is an industry-leading value. Screening cost is less than $0.01 on average.
Conduct ongoing screening of large customer databases or perform real-time, high-volume screening of SWIFT, International ACH, and Fedwire transactions.
| Real-Time Screening | Batch Screening | |
|---|---|---|
| Use case | Wire transfers, ACH, SWIFT, client onboarding | Ongoing customer monitoring, portfolio rescreening |
| Throughput | High-volume, inline — results in milliseconds | Large database support with event-driven alerting |
| Cost | Less than $0.01 per counterparty, depending on volume | |
Enabling Banks of Every Size to Meet Compliance Obligations
OFAC API has partnered with over 500 banks and financial institutions of all sizes to meet regulatory compliance obligations efficiently. Whether you're a community bank managing customer onboarding or a large institution screening high-volume international transaction activity, the service scales to your requirements.
Our clients include
- Community and regional banks: Affordable, low-overhead OFAC screening for customer onboarding and deposit accounts without enterprise-scale complexity.
- Large financial institutions: High-throughput real-time screening for SWIFT, ACH, and Fedwire transaction volumes with configurable risk thresholds.
- Credit unions: Member onboarding and ongoing monitoring that meets NCUA and OFAC compliance expectations.
- Correspondent banking: Screen correspondent relationships and intermediary banks as part of your due diligence and relationship management program.
- Trade financing: Apply BIS Denied Parties List and OFAC screening to letters of credit, documentary collections, and trade counterparties.
- Private banking and wealth management: PEP screening and adverse media for high-net-worth onboarding and ongoing relationship monitoring.
See the datasets page for a complete listing of all available sanctions and risk data sources.