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Using it's advanced AI, machine learning, and Natural Language Processing algorithms, Merlon analyzes over 350M news articles across 15 languages to identify relevant financial risks aligned to both FATF and national standards. It then filters out false positives and intelligently highlights results so compliance analysts can make more informed decisions in a fraction of the time spent compared to traditional keyword / rule-based legacy solutions.
This week, Merlon released all the features and capabilities of its enterprise solution in a new SaaS offering, allowing companies of any size to instantly leverage these innovations. This complete solution includes access to an expansive news library, requires no installation, and comes with a three-minute training so compliance analysts can start running investigations immediately. A fully-featured 15-day trial is available at no cost, and Merlon offers monthly contracts that require no long term commitments providing the flexibility to add or reduce compliance analysts as the need arises.
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"Unstructured adverse media research is both a leading indicator of financial crime and a necessary part of customer due diligence," said Merlon CEO, Manu Chadha. "This is because evidence of financial crime often surfaces in adverse media well before it is indexed by governments or list providers."
Traditional adverse media solutions rely on keyword-based search, which results in incomplete risk detection and a very high false-positive rate while missing critical risks. This makes the process slow, error-prone, and costly, often requiring a large number of analysts. Because of this, adverse media screening has historically been conducted on a small percentage of high-risk clients, leaving financial firms exposed to regulatory risk and reputation damage.
Chadha continued, "With this release, we've made it possible for any company to instantly leverage AI to fight financial crime. With the growth in available news content, context-aware AI, machine learning, and Natural Language Processing are necessary tools to improve risk detection and significantly reduce false-positive, allowing compliance analysts to make more informed decisions in a fraction of the time. With no installation required, analysts are conducting investigations within 5 minutes of signing up, making the process of evaluating and using Merlon in conjunction with their existing KYC process simple and effective".
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You can find out more information on Merlon offerings and sign up for a free trial at merlon.ai (https://merlon.ai/?utm_source=Press%20Release&utm_medium=email&utm_campaign=PressRelease_2020_06).
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