Integration and Implications of Natural Language Processing in KYC Procedures 

By Binh Dang
On: 7 May, 2024,
Categories: KYC

The emergence of Natural Language Processing (NLP) technologies offers a promising solution to revolutionise KYC procedures, enhancing efficiency, accuracy, and compliance.

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smartKYC’s 10 Best Practices for Perpetual Adverse Media Monitoring

Adverse Media | KYC

7 March, 2024

Four years ago, we posited in our white paper, Eyes Always Open, published in Money Laundering Bulletin, that best practice guidance on KYC screening would soon include perpetual monitoring of adverse media as opposed to just screening at onboarding and re-screening at intervals.

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The evolution of KYC to KYX: understanding your counterparties

KYC

31 January, 2024

In the realm of financial services and beyond, ‘Know Your Customer’ (KYC) has long been a foundational principle.

2023: Year in review

Awards | ESG | KYC

21 December, 2023

As 2023 draws to a close, we reflect on the key KYC due diligence trends and challenges affecting the industry, as well as highlighting smartKYC’s company milestones and achievements, including an exciting new product launch and multiple award wins.

Supply Chain Due Diligence: What Multinational Corporations Can Learn from Banks

Adverse Media | Continuous Monitoring | KYC

24 October, 2023

In today’s complex and increasingly regulated business environment, multinational corporations are challenged to ensure the integrity and compliance of their expansive supply chains.

smartKYC launches new product, smartEYE

Adverse Media | Continuous Monitoring | KYC | Regtech

12 October, 2023

smartKYC today announce the launch of their new product for banks: smartEYE – the ultimate defence for 24/7 risk vigilance.

Unmasking Modern Slavery: Multilingual NLP in Adverse Media Screening

Adverse Media | AI | Continuous Monitoring | KYC

13 September, 2023

Multilingual NLP in adverse media screening can help unmask modern slavery

KYC Screening in Private Banking & Wealth Management

Adverse Media | AI | Continuous Monitoring | KYC

14 July, 2023

The current role of KYC screening in PBWM KYC screening plays a crucial role in PBWM industry, ensuring compliance with regulations, mitigating financial risks, and maintaining the integrity of the financial system. As the industry evolves, the adoption of digital KYC screening processes becomes increasingly important to streamline operations. However, this sector faces unique challenges

A Brief History of Adverse Media Screening

Adverse Media | AI | Continuous Monitoring | KYC

17 May, 2023

Adverse media screening dates back several decades and has evolved alongside the changing media landscape.

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!

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.

Mike Byrne Appointed as smartKYC’s New Business Development Director

Fintech | KYC | New Hire | Regtech

7 March, 2023

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