Global Screening Services
Brings financial institutions together from across the globe to deliver higher standards in compliance, providing a trusted platform to enhance and exchange information.
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| R&D budget | 0000 | 0000 |
Source: Company filings or news article
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GSS Rose is a financial technology startup that operates in the compliance sector, specifically focusing on sanctions screening. The company's unique approach to sanctions screening is designed to improve the efficiency and effectiveness of this critical process for global financial institutions.
Sanctions screening is a process used by banks and other financial institutions to ensure they are not doing business with individuals or entities that are on international sanctions lists. GSS Rose's approach to this process aims to reduce the number of delayed cross-border transactions and increase the effectiveness rate of alerting on true matches against GSS standards. This means that the system is designed to reduce the number of false positives, which are instances where a transaction is flagged as potentially problematic, but upon further review, is found to be legitimate.
GSS Rose's business model is likely based on a subscription or usage-based fee, where financial institutions pay for access to their sanctions screening tool. The company's market includes banks and other financial institutions that need to comply with international sanctions laws.
The company has been recognized for its innovative approach, being one of 21 teams shortlisted for the BIS G20 TechSprint 2023, a competition that highlights innovative solutions in the financial technology sector.
In summary, GSS Rose is a fintech startup that provides a more efficient and effective sanctions screening process for global financial institutions, helping them comply with international laws and avoid costly mistakes.
Keywords: Fintech, Compliance, Sanctions Screening, Financial Institutions, Cross-Border Transactions, False Positives, BIS G20 TechSprint 2023, Subscription-Based, International Sanctions Laws, Innovation.