EIX-FinCrime
Empower Anti-Money Laundering with AI-Powered Adverse News Screening
EIX-FinCrime automates the tracking, screening and analysis of crime-related news, risks and investigations tied to your customers, all in real time using AI.
By streamlining processes, improving accuracy and anticipating emerging threats, EIX-FinCrime is an essential tool for managing risk and ensuring compliance. With AI, financial institutions can stay ahead of evolving threats and compliance regulations while significantly reducing costs.
What it's for
EIX-FinCrime sharpens detection and enhances efficiency, enabling more proactive Know Your Customer practices, especially for adverse news screening.
EIX-FinCrime sharpens detection and enhances efficiency, enabling more proactive Know Your Customer practices, especially for adverse news screening.
How it works
Daily news monitoring
Analyze current and historical content from local, national and international news outlets, news agencies, websites and other global sources.
Smart news screening
Use trained AI models to identify and classify news based on more than 60 criminal offenses.
Extract and analyze key data
Identify individuals and/or companies in the news, including contextual details like age, profession, location and role (e.g., suspect, arrested, accomplice, etc.).
Relevance and risk scoring
Match individuals or companies in the news with your customer database and assess severity using customized scoring rules.
Sanction screening
Identify sanctioned individuals or entities by augmenting controls of global watchlists (ONU, UE, OFAC, etc.) to block access to financial services in accordance with applicable sanctions laws and regulations.
PEP checks
Enhance due diligence efforts and decision making by conducting PEP checks by and screening third-party data to flag individuals with political influence or close associations to assess potential corruption or abuse of power risks.
Automatic alerts, summary and reports
Generate automatic summaries and reports of the most relevant news and send real-time notifications to your KYC and AML systems when banking customers are identified in news screening.
BENEFITS
False positives
90% reduced false positives in AML checks, automating adverse news detection
Costs
40% lower costs for back-office processes with faster, better controls and more accurate news screening, automatic summary and reports
Customer care requests
2+ million customer care requests processed monthly
Notification
Faster notification of alerts for crimes and suspicious activities through daily, detailed news monitoring
New customer onboarding
Faster new customer onboarding processes, improved customer experience, expanded business opportunities
Expand news monitoring
Expand news monitoring, sanctions and PEP screening across the full customer base or for segments of customers while reducing a manual and repetitive workload.
AI you can explain. Outcomes you can measure.
Let expert.ai show you how to apply AI—securely, transparently and at scale.
