Here is the rewritten article in markdown format:

Germany’s Banks Face Increasing Pressure to Improve Sanctions Screening

The landscape for sanctions compliance in Germany has become increasingly complex, with ever-growing regulations and laws creating a challenging environment for banks. The pressure to maintain a robust sanctions screening system has never been greater.

Traditional Sanctions Screening Systems: Inefficient and Burdensome

Traditional sanctions screening systems often result in high false alarm rates, exceeding 95% in some cases. This not only leads to inefficiencies but also creates a significant burden on staff, who must manually review alerts that may not require further attention.

KPMG Offers Solutions for Sanctions Screening Challenges

To address these challenges, KPMG has developed innovative solutions that combine deep industry knowledge with advanced technology. The company’s Sanctions Screening Testing Platform enables banks to test the effectiveness of their customer and payment verification systems, providing a robust and verifiable way to identify areas for improvement.

Key Features of the Sanctions Screening Testing Platform

• Uses lists from regulatory authorities, third-party providers, or internal client lists
• Provides built-in proof of verification and accuracy analysis
• Analyzes results with clients to determine the cause of false alarms and identify ways to optimize screening solutions

Automated Decision-Making with KPMG’s Sanctions Alert Classifier

KPMG’s Sanctions Alert Classifier takes a significant step forward in automating decision-making for sanctions screening. This advanced tool provides 99.998% accuracy in decision making, reducing the risk of human error and system review costs.

Benefits of KPMG’s Sanctions Solutions

The benefits of KPMG’s sanctions solutions for German banks include:

• Fewer alerts resulting in less effort for monitoring teams
• Increased and constant accuracy, with 99.9% accuracy for alert results based on millions of SWIFT messages
• Regulatory compliance through automated “true” positive detection
• Cost reduction through automated percentage classification of Level 1 alerts
• Improved customer satisfaction through timely review of alerts

By implementing KPMG’s sanctions solutions, German banks can improve their sanctions screening systems, reduce costs, and enhance regulatory compliance.