Automated solution on a real-time basis to address the challenge of scanning messages and check if they meet the travel rule requirements. TRS can handle various message formats such as SWIFT, FED, and CHIPS and it can interface with any payment system or watchlist filtering using standards messaging platforms.
TRS can be configured with simple checks like (minimum length of address, names, lookup list of keywords, etc.) or very complex patterns (using Regular Expressions regex” and complex expression) to check for “Stripping” or invalid information on transactions. The user can also configure specific message types that need to be checked for travel rule requirements. If the message passes the travel rule checks, the message is sent back with appropriate status back to the payment system. If the message fails the travel rule check, then the user can review such messages and take appropriate action such as a Reject or Accept.