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Earthport Payment Network reduces false positives of automated suspicious transaction detection using AML risk data in real-time
janhavi
March 8, 2019
Summary:
Earthport implemented ComplyAdvantage's Transaction Monitoring platform to analyse data in real time to identify and report suspicious payment behaviour which may be linked to money laundering or terrorism-financing. Minimising false positives for this behaviour reduces the amount of human intervention needed making the process more efficient.
Problem:
Earthport needed a way to effectively monitor a high volume of transactions for financial crime risk without compromising on the efficiency of their internal processes or the customer experience. Furthermore, tight operating margins mean that operational efficiency is a must: manual resolutions must be kept to a minimum (with few false positives) and any alerts must be quick and easy to handle.
- Industry
- Banking
- Function
- Audit
- Company Name
- Earthport
- Vendors
- ComplyAdvantage
- AI Technologies
- Link to usecase
- link