ACE Software Solutions has launched Pelican Sanctions, a tool for corporates to help manage sanctions risk and protect themselves against financial loss and reputational risk.

The product screens transactions against sanctions lists, and scans supplier, customer and employee data in real time, supporting corporates’ decisions in the context of audits for KYC requirements.

By flagging risky payments, it can save treasury departments having to hold emergency cash for risk mitigation in sanctioned countries. This, in turn, also helps to protect banks from regulatory fines and reputational damage.

Parth Desai, CEO of ACE Software, says: “The focus on sanctions risk is likely to increase as regulatory and reputational risk are on the rise, which has led to corporates taking a more proactive approach in this area.

“Every corporate should have a responsibility and understanding of the sanctions risks involved and be actively committed to implementing solutions to provide efficiencies and to better manage their business. Our solution has intelligent sanctions filtering which provides peace of mind for any global multinational corporation to manage risk and reputation.”