Firco Filtering Modernization Guide

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.

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.

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.

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

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.

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.

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.

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

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

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.

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.

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

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.

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.

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.

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.

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.

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.

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.

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.