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Brickwood expands AML checks with FinScan screening deal

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Brickwood expands AML checks with FinScan screening deal

Brickwood Asset Management, an independent UK value equities investment firm, has selected FinScan, the anti-money laundering (AML) compliance business of Innovative Systems, to continuously screen companies held in its funds and their directors.

The arrangement extends Brickwood’s checks beyond global sanctions lists to include adverse media screening, a voluntary measure that reflects growing scrutiny of asset managers’ compliance controls from regulators and investment allocators.

Under the agreement, FinScan will screen both corporate issuers in Brickwood’s portfolios and the individuals directing those businesses. The process will cover global sanctions lists, as well as adverse media sources, allowing the firm to monitor potential risks across its holdings on an ongoing basis.

FinScan’s platform enables asset managers to screen businesses and individuals in one system, with checks covering sanctions, politically exposed persons (PEPs) and adverse media. Its configurable matching technology is designed to improve the accuracy and explainability of results, while filtering duplicate and lower-priority alerts. The platform also maintains an audit trail of completed reviews.

Brickwood was established by professionals with experience at leading UK and international asset management firms. The boutique focuses on value equities.

FinScan is part of Innovative Systems, which provides AML technology and consulting services to organisations worldwide. Its platform combines Know Your Customer (KYC) checks, sanctions screening, risk scoring, data quality tools and advisory services. Customers can deploy the technology through software-as-a-service (SaaS), on-premise or hybrid arrangements.

The company said its SaaS customers collectively process more than 300bn name screenings annually.

Brickwood Asset Management CEO Claudia Ripley said, “Screening the issuers we hold against global sanctions is a core regulatory requirement, and ensuring that process is supported by a high-quality screening solution was an important consideration for us.


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