Financial institutions can now share information safely, securely, and fast

Salv Bridge is an information and data exchange solution.

Our cloud-based solution enables financial institutions to exchange and enrich data on bad actors, so all parties strengthen their respective AML efforts. Salv Bridge is encrypted and fully-compliant with the latest data protection regulations.

With Salv Bridge, your team can proactively co-operate across borders, across legal jurisdictions, and against transnational criminal networks.

The list of use cases where intelligence sharing can help catch criminals and make life easier for good customers, is long. Here are some:

• Fraud recall: Salv Bridge connects banks to recall payments that are suspected to be fraudulent and freezes the funds while investigations take place. Salv’s customers have increased successful fraud recalls from 10% to 80%. Read how they did it (download case study).

• Improving quality of SARs: The exchange of additional data connected to individual transactions is helping banks establish more accurate cases for lodging suspicious activity reports (SARs) for law enforcement to prosecute.

• Sanctions hits: Banks are obligated to check for known blacklisted individuals – but this process often produces 90% false matches. Salv Bridge speeds up clarifying if alerts are real hits or false alarms.

• Fighting money-laundering: The sooner missing data gaps are closed, the faster and more effective money-laundering investigations spanning multiple institutions are.

Whatever the use case, the most important is that Salv Bridge changes the way teams work. Better data arriving faster (whether manually or automatically) allows teams to make better decisions about the funds going through their institution.

Launched in Oct 2020, Salv Bridge covered 90% of Estonian banking market by bridging (see what we did here) 4 biggest banks in Estonia – Swedbank, SEB, LHV, and Luminor. More leading market participants soon followed, giving Salv Bridge 99% domestic market coverage. And in May 2022 Salv Bridge officially went cross-border.

New networks have emerged in Sweden and UK from the cross-border activities of present members.

We are also seeing Salv Bridge expanding outside traditional banks, with fintechs, payment service providers, BaaS and crypto platforms joining the network.

Every day, financial institutions screen millions of transactions, looking to stop criminal networks from laundering money or scamming innocent people via their institution. But complex fincrime schemes happen across multiple institutions, and each only sees one part of the bigger picture. Salv Bridge helps to fill in the missing puzzle pieces, by connecting financial institutions.

Financial institutions can now share fraud and scam findings and suspicions with one another securely and fast.

Salv Bridge

• connects financial institutions via a secure and privacy-protected platform
• provides alert case management for AML teams & regulator-friendly audit trails
• enables automation of messaging by standardising data inputs

National and regional regulators have welcomed Salv with open arms.

The audit function has especially been praised. Many financial institutions are required to submit annual audits detailing the measures they’ve taken to prevent money laundering within their institution. As every action taken within the Salv Bridge platform environment is logged, regulatory reports are pain-free, and team leads have full oversight over metrics like rates of false or true positives and the volume of suspicious activity reports filed.

Salv Bridge uses end-to-end encryption as well as a password-protected key system, in addition to 2-factor-authentication (2FA) and IP whitelisting.

Most importantly, Salv has no access to data exchanged via the Salv Bridge network. Instead, we help financial institutions ensure data-minimisation practices by using closed/set fields and meeting data deletion/collection standards outlined in the EU’s General Data Protection Regulation (GDPR).