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

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.

smartKYC announces Mike Byrne as the company’s new Business Development Director.

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.

Perpetual KYC (pkyc) has become a buzz phrase in the last few years due to a combination of heightened scrutiny from regulators and huge advancements in automation technology. In this article, smartKYC’s CEO Dermot Corrigan provides insight on the definition of perpetual KYC, the implications for other KYC monitoring activities, such as periodic refresh, and points to some of the solutions that can meet the technical challenges perpetual KYC presents.

In 2022 we planned ahead and took an active approach to new regulations, sharing our opinions on several industry trends and creating new solutions for industry trends. Our 2022 AML research gave insight to key industry shits.

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?

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.

In this final article, we share our last set of best practices for Adverse Media Screening, a tool increasingly important for individuals and companies in monitoring online news and media.

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

This article continues with tips 4-6 for better implementing a continuous or high-frequency negative news screening programme.