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Expert System and NominoData Partner to Deliver Next Generation AML and Compliance Cognitive Solutions

21 September 2016

Leveraging big data text analytics to improve risk scenario management

 – Expert System (EXSY.MI), the leader in cognitive technology for the effective management of unstructured information, and NominoData LLC, a data solutions company formed to help clients with worldwide identity, compliance, and risk management issues, today announced a partnership to deliver intelligent big data and text analytics solutions for today’s increasingly rich information world associated with modern day commerce.

The partnership will combine NominoData’s deep domain expertise in total risk coverage (risk management, fraud detection, fraud prevention, anti money laundering) with Expert System’s artificial intelligence solutions improving organizations decision-making processes. Thanks to the integration of NominoData’s data into Expert System’s offering, both companies will extend the market reach of their products and services for financial institutions as well also for non-bank organizations.

Robert A. Goldfinger, President of NominoData LLC, commented: “The integration of Expert System platform with data provided by NominoData empowers customers to mitigate operational risk through review of open source intelligence information. Identifying risk relevant information pertaining to individuals and entities enables analysts and investigators to comply with regulatory requirements and develop opportunities for operational advancements.”

NominoData’s innovative solutions are based on a full comprehensive data offering that includes:  Negative News from global and domestic open source data of risk relevant information (from media, government sources, blogs etc.);  PEP data file for U.S. Domestic, Global and PEPS associates; government Sanctions and watch-lists from the U.S. and around the globe; data file of legitimate marijuana businesses from the 24+ “legalized” U.S states;  HIDTA/HIFCA zip-code/town/county data table; a wide-ranging set of name variations; and Panama Papers associates file of 150K + names of PEPS/REPS linked to the Papers listed individuals.

“We are pleased to form a strategic partnership with NominoData. By combining Expert System’s cognitive computing capabilities in leveraging big data and analytics with NominoData rich data heritage, we can offer new productivity-boosting solutions to support risk and compliance analysts in mitigating risks in the most effective way.” said Bryan Bell, Expert System Enterprise EVP, Market Development.

Expert System and NominoData will be presenting their joint offering at the world’s largest AML and financial crime conference: ACAMS 15th Annual AML & Financial Crime Conference, Las Vegas, September 26 – 28, 2016.