Name: Firco Filtering
Availability: InStock

Question 1

What is Firco Filtering?

Accepted Answer

Firco Filtering is a watch list filtering software suite designed for use on z/OS systems, primarily within the banking and finance sectors. It helps organizations comply with regulations by screening transactions and entities against sanctions lists.

Question 2

What is Firco Filtering used for?

Accepted Answer

Firco Filtering is used to screen financial transactions and customer data against watch lists, such as those issued by regulatory bodies, to identify potential matches that could indicate illicit activity or sanctions violations.

Question 3

How does Firco Filtering work?

Accepted Answer

Firco Filtering operates on z/OS, a mainframe operating system. It integrates with core banking systems to intercept and analyze transactions in real-time or batch mode.

Question 4

What are the key features of Firco Filtering?

Accepted Answer

Firco Filtering supports various watch list formats and can be configured to use different matching algorithms to optimize accuracy and minimize false positives.

Question 5

What are the main components of the Firco Filtering architecture?

Accepted Answer

Firco Filtering's architecture includes components such as the Filtering Engine, Watch List Manager, and Reporting Module. These components communicate through internal APIs and message queues.

Question 6

How is Firco Filtering configured?

Accepted Answer

Firco Filtering uses configuration files to define parameters such as watch list locations, matching thresholds, and reporting options. These files are typically managed through a dedicated administrative interface.

Question 7

What types of APIs does Firco Filtering expose?

Accepted Answer

Firco Filtering supports integration via APIs, potentially including REST or SOAP interfaces, to allow external systems to submit transactions for screening and retrieve results. Specific API endpoints and methods depend on the implementation.

Question 8

What databases does Firco Filtering use?

Accepted Answer

Firco Filtering typically uses a database, such as IBM Db2 on z/OS, to store watch list data, transaction history, and audit logs.

Question 9

How does Firco Filtering help organizations avoid regulatory fines?

Accepted Answer

By accurately screening transactions against watch lists, Firco Filtering helps organizations avoid regulatory fines, reputational damage, and business disruptions associated with non-compliance.

Question 10

How does Firco Filtering improve operational efficiency?

Accepted Answer

Firco Filtering can improve operational efficiency by automating the screening process, reducing the need for manual review of transactions and freeing up resources for other tasks.

Question 11

How does Firco Filtering ensure consistent compliance across different business units?

Accepted Answer

Firco Filtering provides a centralized platform for managing watch lists and screening rules, enabling organizations to maintain consistent compliance across different business units and geographies.

Question 12

How does Firco Filtering provide insights into screening activity?

Accepted Answer

Firco Filtering's reporting capabilities provide valuable insights into screening activity, helping organizations identify trends, assess risk exposure, and demonstrate compliance to regulators.

Question 13

What authentication methods are supported by Firco Filtering?

Accepted Answer

Firco Filtering supports authentication methods such as LDAP and potentially Kerberos for secure access to the system. Specific methods depend on the z/OS environment and configuration.

Question 14

What access control model is used by Firco Filtering?

Accepted Answer

Firco Filtering uses an access control model, potentially RBAC, to control user permissions and access to sensitive data and functions. Role-based permissions define what actions users can perform.

Question 15

What encryption is used by Firco Filtering?

Accepted Answer

Firco Filtering uses encryption to protect sensitive data both in transit and at rest. Specific encryption algorithms and protocols depend on the configuration and z/OS security standards.

Question 16

What audit/logging capabilities exist in Firco Filtering?

Accepted Answer

Firco Filtering provides comprehensive audit logging capabilities, recording user activity, system events, and transaction screening results. These logs can be used for security monitoring and compliance reporting.

Question 17

What administrative interfaces are available for Firco Filtering?

Accepted Answer

Firco Filtering provides administrative interfaces, such as a web console or a z/OS-based TSO/ISPF interface, for managing the system. These interfaces allow administrators to configure parameters, manage users, and monitor system performance.

Question 18

How is user management handled in Firco Filtering?

Accepted Answer

User management in Firco Filtering is typically handled through the z/OS security system (e.g., RACF, ACF2, Top Secret) or through a dedicated user management module within the application.

Question 19

What monitoring/logging capabilities exist in Firco Filtering?

Accepted Answer

Firco Filtering offers monitoring and logging capabilities, providing real-time insights into system performance, transaction screening activity, and potential security threats. Logs can be integrated with SIEM systems.

Question 20

What are the main configuration parameters for Firco Filtering?

Accepted Answer

Key configuration parameters for Firco Filtering include watch list locations, matching thresholds, reporting options, and integration settings. These parameters are typically managed through configuration files or the administrative interface.

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Firco Filtering

Product Overview

Frequently Asked Questions

What is Firco Filtering?

What is Firco Filtering used for?

How does Firco Filtering work?

What are the key features of Firco Filtering?

What are the main components of the Firco Filtering architecture?

How is Firco Filtering configured?

What types of APIs does Firco Filtering expose?

What databases does Firco Filtering use?

How does Firco Filtering help organizations avoid regulatory fines?

How does Firco Filtering improve operational efficiency?

How does Firco Filtering ensure consistent compliance across different business units?

How does Firco Filtering provide insights into screening activity?

What authentication methods are supported by Firco Filtering?

What access control model is used by Firco Filtering?

What encryption is used by Firco Filtering?

What audit/logging capabilities exist in Firco Filtering?

What administrative interfaces are available for Firco Filtering?

How is user management handled in Firco Filtering?

What monitoring/logging capabilities exist in Firco Filtering?

What are the main configuration parameters for Firco Filtering?

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