Solutions
AML / KYC
A financial services company operating globally aims to enhance its AML/KYC compliance processes to meet regulatory requirements and mitigate risks associated with financial crimes. The company seeks a solution to ensure adherence to AML/KYC regulations, monitor high-risk clients, and swiftly respond to compliance issues to stay ahead of regulatory challenges.
- Regulatory Adherence: Identifying and responding to suspicious financial activities and changes in regulations to ensure ongoing compliance.
- Financial Crime Prevention: Monitoring and assessing high-risk clients to detect and prevent money laundering and other illicit activities early.
- Compliance Agility: Addressing emerging compliance challenges swiftly to remain ahead of regulatory demands.
Approach
SV identifies and extracts proprietary, curated, high-quality data from global media outlets in multiple languages. Utilizing various AI tools and techniques, SV filters and refines the data based on client-defined named entities and relevant event types. These named entities and events are then correlated using advanced language models and other AI tools to deliver highly refined outcomes. The results are integrated into dashboards and reports that include both historical data screening and near real-time monitoring. Semantic Visions helps detect early signs of financial distress, potential credit issues, and compliance risks related to AML and KYC regulations.
Deliverables
- Near real-time data access: Provide immediate notifications of events that could impact compliance, including regulatory updates and suspicious financial activities.
- Comprehensive historical data: Offer detailed insights into past compliance-related events involving high-risk clients, with data updated within 24 hours of a screening request.
- Interactive compliance dashboard: Deliver an AI-enhanced interface with hourly updates for efficient navigation and analysis of compliance-related data.
- Tailored compliance reports: Generate customized reports based on client requirements, highlighting trends and insights in compliance data.
Key benefits
- Maintaining Regulatory Compliance: Clients achieve timely identification and response to suspicious activities and regulatory changes, helping to maintain adherence to AML/KYC standards.
- Effective Crime Prevention: Clients reduce the risk of financial crime by monitoring high-risk clients and detecting illicit activities early.
- Enhanced Compliance Agility: Clients stay ahead of regulatory requirements through swift action on emerging compliance issues, ensuring continuous compliance.
