Wolfsberg Group Response
The Wolfsberg Group published its guidance on Principles for Using Artificial Intelligence and Machine Learning in Financial Crime Compliance in late 2022.
Wolfsberg developed these principles to help “FIs focus financial crime control activities with increased precision on the customers and transactions presenting the highest risk, reducing manual reviews and customer friction, such as transaction delays or redundant inquiries.”
These recommendations reflect what smartKYC has been pioneering for years, highlighting five main principles that are at the center of our technology.
Read our full response to the guidelines and how they correspond with what we do at smartKYC on our latest blog post, here.
Last year, we launched smartLISTS—a better way for financial crime teams to manage and screen against their internal watchlist data. With smartLISTS, firms are able to manage or ingest their own lists of individuals or entities.
Find out more about smartLISTS here.
smartKYC was recognised as one of the top category leaders across the 2022 Chartis KYC Solutions Market Update and Vendor Landscape report.
smartKYC was rated ‘best in class’ for reporting and customer profile enrichment, recognising smartKYC’s industry-leading solutions in potential markets of customer satisfaction and growth strategy.
smartKYC received additional advanced rankings in KYC risk scoring and customer onboarding, bringing their total scoring to 14 out of 16 stars. Read the Chartis report here.
smartKYC sponsored three events in 2022: SIBOS, AMLP 16th Annual European AML & Financial Crime Conference and Transform Finance Banking Summit.
CEO, Dermot Corrigan, partook in panel discussions at AMLP 16th Annual European AML & Financial Crime Conference and Transform Finance Banking Summit, sharing his thoughts on industry trends.
We are proud to announce that we won 6 awards across various categories and geographical regions in 2022.
- RegTech USA Best Financial Crime
- RegTech APAC Best Financial Crime
- Data Management Best Proposition for AI, Machine Learning
- Best ESG KYC surveillance provider at the ESG Insight Awards 2022
- Best Know Your Customer Solution at the ESG Insight Awards 2022
- Best Explainable AI at the 2022 Computing AI and Machine Learning Awards
“Helping our clients mitigate risk is a top priority for us at smartKYC and to have our work recognised by these nominations is highly gratifying.” — Hugo Chamberlain, smartKYC‘s COO.
We look forward to all that smartKYC has in store for 2023!
smartKYC’s adverse media screening software is the world’s most advanced multilingual semantic search engine to machine read all online media content for potential negative news about your clients, improving KYC processes and reducing risks. If you’re interested in learning more about smartKYC’s industry-leading multilingual NLP and how it can transform the efficiency and effectiveness of your KYC operations, book your demo today.