Financial institutions and, increasingly, corporates are overwhelmed by the scale and complexity of their KYC / KY3P workloads. They are trying to cope with:
This is set against a backdrop of the systemic risk of human error along with an aspiration to go further and automatically run batch processes like remediation work or continuous risk monitoring programmes.
smartKYC solves all these problems, today.
By combining artificial intelligence, linguistic and cultural sensitivity and deep domain knowledge, smartKYC sets new standards for KYC quality, transforms productivity and hardwires compliance conformance.
Why smartKYC
The smartKYC enterprise-grade platform is designed to make the whole spectrum of KYC due diligence, from IDV to EDD, faster, better and more cost effective. How?
Faster
Through intelligent, explainable automation, the research heavy-lifting is done at speed and at scale by machine, often enabling straight through processing
Better
By reducing the risk of human error, especially in the handling of foreign language material. Every line of every source, regardless of structure or means of access, is analysed
More cost effective
Resources can be moved away from labour-intensive, ‘mechanical’ processes like searching and reading documents, many of them highly repetitive or ambiguous, to tackle more productive tasks
Solutions
smartKYC applies AI to extract precise open source intelligence (OSINT) from vast corpuses of information – internet and deep web, news archives, watchlists and corporate databases.
Multiple identifying attributes are used to ensure the right identity is being profiled, even in media sources. And all sources are robotically analysed, with semantic precision, in the native language so that every linguistic nuance is captured – not machine-translated into English first and then processed.
All of this happens at speed and at scale which means very large batch processes, for example remediation exercises or monitoring programmes can be run ‘in the background’ and only potential risks triaged for human review.
- Batch Remediation
- Straight Through Processing
- Periodic Refresh & Continuous Monitoring
- Payment Screening
- Lead Generation and Prospect Profiling
- False Hit Filtering
- Enhanced Due Diligence
Technology
smartKYC combines extensive industry intelligence with a range of sophisticated, proprietary technologies including
Federated search
Public (e.g. web), professional (e.g. subscription) and private (e.g. blacklist) sources can be integrated and harmonised. We have over 50 available out-of-the-box
Sophisticated name handling
A tailored approach to variant generation, name matching, origin detection, identity matching, hit aggregation and more
Natural, multi-language processing (NMLP)
Scoring media hits for relevance based on multiple identifying attributes and extracting rich intelligence from these sources, regardless of language or script
Sounds complex, but it is actually quite simple.
smartKYC also:
Markets
smartKYC serves the financial services and consultancy communities with a major focus on:
Private Banking and Wealth Management
Corporate and Investment Banking
Retail Banking
3rd Party Risk Management & ESG
Compliance Advisory and Support Services
If you share some (if not all) of the characteristics below, get in touch:
Awards and Recognitions
