Finantix – key role in supporting one of the First 20 major international institutions build high quality client intelligence

CATEGORY – PRIVATE BANKING WEALTH MANAGEMENT INTELLIGENCE

For one of the 20 most important financial institutions, Finantix overcomes the human research and linguistic challenges of achieving high-quality client intelligence, across all client lifecycle events.

CORE COMPETENCIES

Ability to apply semantic technology adapted specifically for AML/KYC purposes. Expertise to implement a system that scans both structured and unstructured results for red flag triggering. Functional capability to assemble comprehensive reports, covering areas including political exposure, close associates, shareholders/directors, adverse media, legal issues, links to sanctioned or high risk countries, sources of wealth and corporate affiliations. 

CORE DELIVERABLE(S)

An AI system composed of engines and consoles, allowing for automation of  almost all KYC/DD/AML processes at multiple stages of the customer lifecycle, including prospecting, onboarding, periodic refresh, information update, transaction and remediation.

CLIENT CHALLENGES

The client wanted to use semantic technology adapted specifically for AML/KYC purposes across some of the most important processes in the client lifecycle. These included prospecting, onboarding, source of wealth corroboration, remediation, periodic review and counterparty – trade finance. In addition, the same technology needed to be used to support lead generation and enriching of client profiles.

CLIENT CONTEXT

In their wealth management division, the client had been looking to source a state-of-the-art NLP algorithm to support both KYC media and database research and the prospecting process, with research intelligence on lead/contact triggers and additional prospect information.

CUSTOMER EXPERIENCE

The client initiated building and productising a pilot to provide research intelligence for the KYC/prospecting process. This is aligned with American and German business requirements (research categories). It offers English, German,  Spanish, Portuguese and one other language for the first 15 data sources, in addition to Google, Bing and others. After live operating success live in the early months, the client went on to increase the number of features and move to a more global solution.

CLIENT CHOICE OF Finantix– KEY CRITERIA

The multi-linguistic and rule-based nature of the smartKYC technology applied makes it easy to identify new topics, based on a client’s unique requirements. The client recognised significant technology advantages, including multi-language, multi-alphabet search, intelligent disambiguation, intelligent recursive search and audit trail.

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