The need for extended and continuous due diligence together with a never-ending list of data-sources and news has made the KYC/EDD process a long and difficult task.
Traditional KYC / AML technologies are therefore limited. We propose to facilitate and lighten this work with our innovative and automated Find-it for Person Check.
With Find-it, we make the automated, smart, semantic and federated search and filtering across the web (and optionally across any data source) possible.
Find-it allows targeted searches with regard to searcher’s intent, customer type, channel, process, etc. for pieces of evidence / corroborating documents regarding Source of Wealth, Ultimate Beneficial Owners of a legal entity or trusted digital identity:
Enhanced Due Diligence with Find-it
Client Due Diligence and investigations regarding Sanctions, PEP hits, Source of Wealth, etc. are complex and severely impacted by the scale of global news and information.
With Find-it, we have automated as much of the search and filtering process as possible, to allow you to invest most of your time investigating clients rather than searching and aggregating information from news sources and structured databases manually.
Find-it for Person Check offers advanced, and comprehensive multilingual semantic person searches across chosen internal and external structured and unstructured data sources. It signiﬁcantly reduces errors and time to process while increasing the scope and relevance of search results with its advanced combination of person name, search terms, and synonyms.
The benefit of using an advanced semantic search engine for Client Intelligence / KYC Due Diligence is more important than ever before with the growth of online information. Learn how to unleash the power of Find-it for Person Check, which does not replace, but optimizes your current processes and systems.
Find-it at a Glance
- Automated semantic person searches
- Advanced fuzzy name matching
- Combined with risk terms
- Federated search across all sources
- Consolidated, relevant results
- Interactive report with quick insights
- Queries and results are archived
- Notiﬁcation of new results
- Integrated with ICOS/2
Find-it automates as much of the search and ﬁltering process as possible, leaving the compliance ofﬁcers the time to investigate who their client really is instead of searching news sources and structured databases. A clear display of results allows a quick but thorough inspection of the aggregated information.
Find-it offers an advanced and comprehensive multilingual semantic person search across chosen internal and external data sources. It signiﬁcantly reduces errors and time to process while increasing the scope and relevance of search results with its advanced combination of person name, risk terms, and synonyms.
For web searches, the person name is automatically combined with risk terms (e.g., insolvency, bankruptcy, maﬁa), their synonyms and translations. Documents with the name (in one of its variants) and at least one risk term are retrieved. The set of risk terms can be conﬁgured separately for each use case (e.g., in each department) and maintained by the compliance ofﬁcers.
Find-it keeps track of the results qualification process (relevant, not relevant, not read) resulting in a comprehensive audit trail: a record of who read what and when.
Enhanced Due Diligence
Combined with ICOS/2, Find-it allows to smartly automate your initial KYC, improve EDD efficiencies, automate review processes, and provide other vital functions and information to financial service providers. Find-it combined with ICOS/2 will help:
- set up a streamlined EDD process to efficiently monitor high-risk customers
- develop a tiered process for when to review customers
- document your reviews
- orchestrate work with other business lines within the institution to make the process safe and easier.
For each chosen name, an automated search and ﬁltering process for documents in the connected sources is triggered: web search engines (e.g., Google, Yahoo, Bing), external data services (e.g., Dow Jones, World-Check, WorldCompliance), and publicly available sources on the Web, and local sources.
Once the integrated Search Monitor option is integrated with Find-it, rescreening can be run automatically in the background; new, relevant findings (new information) may automatically be presented to the relevant stakeholders without repeating the previous findings.
Find-it automatically consolidates the results of the searches, merges duplicates (e.g., web articles) and sorts all results by a consistent relevance ranking. Find-it assesses the documents resulting from the search by their content and detects locations, persons, and organizations mentioned in these documents. Those consolidated and semantically enriched results are readily available for assessment, evaluation & qualification, and decision.
Find-it can group sets of results which are similar (e.g. per geography, event, entity, etc.) to allow analysts to process even larger sets of documents resulting from the searches.
Key Customer Benefits
- Multilingual semantic search engine
- Improved search accuracy
- Relevant, prioritized consolidated results
- Identify associated people and entities
- Eliminate the risk of overlooking vital pieces of information
- Comprehensive audit trail
- Simple workﬂow
- Enhanced Due Diligence