GEORGIAN FINANCIAL TELECOMMUNICATION COMPANY

TransGuard

TransGuard is a software, which consists of connected components, however, the components can function separately as well.


BLS – Black List Screening is a component of TransGuard, which consists of different types of algorithms and its purpose is to compare every record (text) to the black list. Thomson Reuters’s Reuters Premium Plus pack is used, which consists of more than 600 lists, from international authoritative organizations and countries. This includes black and PEP lists. Base renewal happens automatically twice a day. Depending on the service, BLS can be used automatically, as well as mechanically.


Automated Regime – System is placed on consumer’s side and ensures comparing information taken from a transaction to the black and PEP lists. If the system finds a match, the transaction is stopped and an AML representative gets an alert. This person can either block or allow the transaction. Service works in real time. BLS ensures filtering the existing client data base periodically, as well as checking new clients at the moment of registration.


Mechanical Regime - (Name Checker) System is placed on Service Bureau’s side and the consumer has a remote access to it, using internet, VPN and a website. In this case comparing a client to the base happens mechanically and the consumer has to fill out a specific field with information about a client.


FMR – Financial Monitoring Report is a component of the TransGuard system. Its purpose is to detect suspicious and above the threshold transactions/deals automatically, as required by the Financial Monitoring Service. FMR is placed on consumer’s side and is integrated with financial organizations core system. It has an independent database, where all the information from a day is imported. On the next stage, FMR analyzes this information and shows the result in the TransGuard interface (Exactly in the format of FMS’s request). FMR module by itself is integrated to FMS’s infrastructure, which ensures that after consumer’s acceptance, the report is sent directly to FMS using web services.


KYC – Know Your Customer is a TransGuard system component, which is created with Georgian National Bank’s standards. KYC is placed on the consumer’s side and is integrated with the core system. Its purpose is to manage a client database and define their risk level, using individual and international ways. System has different kinds or rules, which are used to analyze transactions on a client’s level. Risk-based approaches are used, such as:
• Geographical risk;
• Product/Service risk;
• Product/Service providing risk;
• Client risk.


NBR – National Bank Reporting is a TransGuard system component, which ensures automatic generation of an offsite-matrix, as required by the Georgian National Bank. System fills six-month forms. Information derives from consumer’s core system. Other than this, when generating this report, other components of TransGuard are used (BLS, FMR and KYC). NBR is placed on the consumer’s side and is integrated with the core system.
Using a consumer interface, NBR has filters to choose report dates and in case of need, to choose one or more report form.
Part of a form, which cannot be automatized, can be filled mechanically by the consumer.


SWIFTRef - is a component of the TransGuard system. Its purpose is to provide/check different identification information for a transfer. Component is a unite catalogue, which consists of identification information about financial institutions. Official provider of this information is SWIFT. Database consists of 5 core packs (IBAN Plus, SEPA Plus, Bank Directory Plus, SSI Plus
and CCH), which is updated daily. SWIFTRef can be used automatically, as well as mechanically.


Automated Regime – System is placed on Service Bureau’s side and can be used using consumer’s core system. At the moment of checking information, information is exchanged between consumer’s core system and SWIFTRef database. Some information can be checked/filled automatically, such as IBAN, BIC, correspondents based on currency and so on. Having this process automated significantly decreases the time of a transaction execution.


Mechanical Regime – (Name checker) System is placed on Service Bureau’s side and the consumer has a remote access to it, using internet and a web page. Checking/filling the information happens mechanically and the consumer has to by hand fill out a specific field to get appropriate results.


In case of additional questions, please contact us directly.


User list of the TransGuard system:


JSC „TBC Bank“
JSC „Bank of Georgia“
LEPL „The National Bank of Georgia“
JSC „Halyk Bank Georgia"
JSC „Cartu Bank"
JSC „International Bank of Azerbaijan -Georgia"
JSC MFO „Credo“
JSC „Silk Road Bank“
JSC „Caucasus Trust Bankers“
JSC „Terabank“
JSC „Ziraat Bank Tbilisi Branch“
JSC „Basis Bank"


JSC "Crystal"
LTD "Easycred Georgia"
JSC "Georgian Capital"
LTD MFO B Credit
LTD MFO Credex
LTD MFO "Imercrediti"
JSC MFO "Alpha Express"
LTD MFO "Continental City Credit"
LTD MFO "Global Credit"
JSC "Credit Plus Georgia"
JSC MFO "Micro Business Capital"
LTD MFO "Georgian Financial Credit - GFC"
LTD MFO "Piazza Capital"
JSC MFO "Business Credit"
JSC Galt & Taggart
JSC MFO "Creditservice+"
JSC MFO "Intel Express Georgia"
LTD MFO Universe Credit
JSC MFO Swiss Capital
LTD MFO Creditor
LTD "Credline"
LTD "Spotcoin"