Automating third-party due diligence and ongoing monitoring with advanced, multilingual AI

By Dermot Corrigan
On: 15 January, 2024,
Categories: AI, ESG, Events, Explainable AI

In a recent webinar session hosted by Ian Lawless, Head of Content Partnerships and Event Director at Procurement Leaders, Dermot Corrigan, CEO discussed how a combination of natural language processing and generative AI can do all the heavy lifting associated with due diligence discovery at both onboarding and during the lifetime of the relationship in real-time, preventing risks from gathering momentum and developing into a full-blown crisis.

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smartKYC Wins ‘Best AI/ML Solution for ESG’ at the ESG Insight Awards, 2023

AI | AML | Awards | ESG | Explainable AI | GDPR | KYC

12 May, 2023

We have won the award for ‘Best AI/ML Solution for ESG’ at the ESG Insight Awards!

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Structuring the Unstructured: The Challenges of Screening Open Source Intelligence

Adverse Media | AI | AML | Continuous Monitoring | Explainable AI | GDPR | KYC | Onboarding

30 March, 2023

KYC (Know Your Customer) screening is an essential process for businesses to identify and verify their clients’ identities as well as surfacing any potential risks associated with them. This process helps mitigate the risk of financial fraud, money laundering and other illegal activities by following KYC regulations. The information gathered during KYC screening can come from various sources, including both structured and unstructured data sets; processing these data sets presents several difficulties that businesses must overcome.

GDPR and KYC – Living Together in Perfect Harmony?

Adverse Media | Continuous Monitoring | Explainable AI | Fintech | GDPR | KYC | Regtech

23 February, 2023

The General Data Protection Regulation (GDPR) and Know Your Customer (KYC) screening are two important regulatory frameworks in the world of data protection and financial services. GDPR and KYC screening can conflict in several ways, particularly in relation to the collection and storage of personal data. However, it is mandatory for organizations to comply with both by carefully balancing the requirements of each and taking appropriate measures to protect personal data.

Negative News Screening: Processing Foreign Languages

Adverse Media | AI | Continuous Monitoring | Explainable AI | Fintech | KYC

19 December, 2022

As we addressed in our latest adverse media post, there is an array of categories—and subcategories— of negative news screening that need to be properly screened for accurate and relevant results. But how do people look for and analyse adverse media in foreign languages? And why is this still so difficult?

smartKYC Comment on the Wolfsberg Principles for Using Artificial Intelligence and Machine Learning in Financial Crime Compliance

AI | Explainable AI | Fintech | KYC

9 December, 2022

On 1st December 2022, the Wolfsberg Group published its Principles for Using Artificial Intelligence and Machine Learning in Financial Crime Compliance. It is a welcome piece of commentary and advice and is inline with our thinking at smartKYC.

smartKYC Wins ‘Best Proposition for AI, Machine Learning’ at the Data Management Insight Europe Awards 2022

AI | Awards | Explainable AI | Fintech

1 December, 2022

We have won the award for ‘Best Proposition for AI, Machine Learning’ at the Data Management Insight Europe Awards!

smartKYC Wins ‘Best Financial Crime Solution’ at the RegTech Insight APAC Awards, 2022

Adverse Media | AI | Awards | ESG | Explainable AI | Fintech

29 November, 2022

We have won the award for ‘Best Financial Crime Solution’ at the RegTech Insight APAC Awards!

What is Adverse Media? No, we don’t mean another definition…

Adverse Media | ESG | Explainable AI | Fintech

25 November, 2022

It is well known that ‘adverse media’ screening is the process of searching for negative news and other data sources about an individual or company for due diligence purposes.

smartKYC Wins ‘Best Financial Crime Solution’ at the RegTech Insight USA Awards 2022

Adverse Media | Awards | Explainable AI | Fintech

17 November, 2022

We have won the award for ‘Best Financial Crime Solution’ at the RegTech Insight USA Awards!

smartKYC Wins ‘Best ESG KYC Surveillance Provider’ in ESG Insight Awards 2022

Awards | Explainable AI | KYC

25 October, 2022

We are honoured to announce we have won the award for Best ESG KYC surveillance provider at the ESG Insight Awards 2022!

smartKYC Wins Two Prestigious Awards

Awards | Explainable AI | KYC

29 July, 2022

smartKYC’s contribution to the due diligence industry results in awards across several disciplines, including technology, AI and ESG.