Name Screening addresses the significant challenge of screening against extensive and frequently updated watchlists, including sanctions and politically exposed persons (PEPs). Compliance teams must efficiently identify true positives while minimizing false positives and managing resource costs.
Key Features:
- Comprehensive Watchlist Screening: Scans against any watchlist, including PEP, adverse media, and custom internal lists.
- Quick Integration: Integrates new watchlists in as little as 15 minutes, allowing for real-time responses to regulatory changes.
- Intelligent Event Triage (IET): Prioritizes alerts based on match strength and historical data, enabling investigators to focus on critical alerts.
- Advanced Algorithms: Uses market-leading algorithms like Weighted Optimal String Alignment (W-OSA) and fuzzy matching techniques to enhance matching accuracy and reduce false positives.
- Language-Based Sets: Comes with default language-based sets that include synonyms and nicknames across multiple languages (English, Spanish, Russian, Chinese, Arabic, Universal) to increase flexibility and efficiency.
Benefits:
- Accurate Risk Identification: Delivers highly accurate alerts and effective risk identification, often within 12 weeks.
- Reduced False Positives: Refines screening accuracy and highlights hidden risks, significantly cutting down false positives.
- Efficient Investigations: Enriches and prioritizes alerts, enhancing the efficiency of investigations and the overall compliance process.
Outcomes:
- High accuracy in identifying true positives.
- Significant reduction in false positives.
- Capable of handling watchlists in 60+ languages.
Download data sheet