AML Screening
AML screening and monitoring as an add-on
With automated KYC and AML screening and monitoring as a one-stop solution, verifying your customers has never been easier.
Using the latest technologies in machine learning and information retrieval to acquire information faster and more effectively than the industry standard, we are able to support you in optimizing your onboarding processes. Under our automated identity verification solution, we offer AML checks by cross-referencing information from diverse and trusted sources, including official databases and credible records.
As per AML regulations, for certain use cases, it is mandatory to perform AML screening and monitoring along with KYC verification. Companies are required to conduct screening of customers against Politically Exposed Persons (PEP) and global sanctions lists to make a risk assessment and to avoid violating various sanctions. For enhanced customer due diligence, the user can be checked against global monitoring watchlists and adverse media.
Profile data is enriched with other identifying information, along with clear traceable source links and relations to other risk entities. This helps reduce false positives.
Global coverage as all major AML watchlists (e.g. OFAC, UN, HMT, EU, DFAT etc.) are covered, along with thousands of government sites and millions of reputable negative news sources.
Robust monitoring, update and assurance processes leverage state of the art machine learning technology, capable of monitoring thousands of AML lists concurrently in real-time.
Seamless integration of AML checks into the KYC process and into your onboarding workflow with one API.
Use Case
As per AML regulations, for certain use cases like account opening in banking or crypto or player verification in gambling, it is mandatory to perform AML screening along with KYC verification.
Building with your business in mind, we offer the option of combining AML checks directly with our automated identity verification solution or any other of our solutions to optimize your onboarding process further:
1. Your customer starts the verification process for example with our automated solution.
2. Using the data from identity verification, on-time screening is performed against global PEP and global sanctions lists during onboarding.
3. An optional check can be conducted for negative news on the verified person and they can be checked against additional global watchlists.
4. Add continuous monitoring to automatically check for changes to respond to the political and regulatory environments changes.
Download our Fact Sheet about AML Screening