smartKYC

In their efforts to ensure their business is conducted with integrity, organisations are increasingly mindful of third-party risk, the risk that a supplier or partner’s misdeeds can have an adverse impact on them - on the corporate brand, share price, or even sales. Spotting ESG red flags is of vital importance and to do that effectively, one needs to start with understanding what ‘bad’ ESG looks like. Our ESG risk framework, which serves as a guide for our third-party risk monitoring product, smartEYE, determines the specific transgressions that should be monitored for. And behind each of these risk concepts is a granular set of subcategories including synonyms, colloquialisms, and a myriad of language permutations. Download the smartEYE ESG risk framework here: https://lnkd.in/eEMAH5uT #smartEYE #ESG #ESGRisk #innovation

smartKYC is proud to announce that we have been named as a finalist in the category of 'Best Digital Solution Provider - RegTech AML, KYC & Compliance' at the Banking Tech Awards, 2024 hosted by FinTech Futures. The awards celebrate excellence in BankingTech and recognise the achievements of individuals, projects and companies in the financial technology industry. Find out more about our award-winning technology: https://lnkd.in/ggDCRFPk #BankingTechAwards #RegTech #KYC #FinTech

Generative AI can dramatically enhance efficiency, consistency, and scalability in KYC processes. However, uncontrolled data input poses significant risks to accuracy, privacy, and fairness. In our latest blog, smartKYC's CCO, Hugo Chamberlain, shares his insights on the transformative potential of Generative AI and Large Language Models (LLMs) in Know Your Customer (KYC) screening, exploring: - The pros and cons of using LLMs for KYC screening - Strategies for overcoming challenges - Real-world implications and case studies Read the article in full here: https://lnkd.in/eBPgmaDQ #FinTech #AI #KYC #ComplianceInnovation #GenerativeAI

Recent news coverage of the Madeleine McCann case has highlighted an interesting discrepancy in media reporting practices. Sky News chose to redact a German national’s last name, referring to the suspect as ‘Christian B,’ in line with German privacy laws, while the BBC disclosed the suspect’s full name. This divergence brings to light the ongoing debate surrounding privacy rights and public interest in cases of alleged criminal activity. This situation echoes the arguments we at smartKYC raised in an article discussing the implications of the UK Supreme Court’s decision in the Bloomberg vs. ZXC case. In this particular case, the court’s ruling upheld an individual’s right to privacy during criminal investigations prior to being charged. As compliance professionals, cases like these bring to light complex issues: ● How we define the term ‘adverse’: the FATF, Wolfsberg Group and FCA all stress the importance of adverse media checks but specifics are scarce. ● Balancing individual privacy rights and transparency: regardless of whether an individual has been charged or acquitted, alleged crime still represents a risk. ● Technological advancements: while partial name redactions are becoming more common, advanced NLP technology now makes it possible to identify individuals based on other attributes in media reports, giving organisations a clearer understanding of risk, regardless of whether their full name has been supplied in media reports or not. As we navigate these issues, it’s clear that the industry needs further guidance. The intersection of privacy laws, media reporting practices, and financial crime compliance is becoming increasingly intricate, requiring thoughtful consideration. For our part, at smartKYC, we distinguish between intrinsic and extrinsic risks as our clients wish to be mindful of all the reasons why the client might represent an unacceptable risk, not just at the point of onboarding but for the entirety of the relationship. This nuanced approach allows for a more comprehensive risk evaluation throughout the entire client relationship. Read our full article on adverse media versus privacy here: https://lnkd.in/eS6NMPRx #FinancialCrime #Compliance #MediaReporting #Privacy #RiskManagement

smartKYC is proud to announce that we have been nominated in the following categories in the Data Management Insight Awards, Europe, 2024! - Best AI-Based Solution for Data Discovery - Best Data Management Solution for Unstructured Data - Best Client On-Boarding Solution These awards recognise both established solution vendors and innovative newcomers providing leading data management solutions, services and consultancy to capital markets participants across Europe. Voting will close at 5pm (UK) on Friday 4th October 2024. Vote for us here: https://lnkd.in/dMJJN-CQ #win #innovation #technology #artificialintelligence #fintech #ai

In our latest blog, smartKYC’s COO, Hugo Chamberlain, thoroughly explores the role of federated search, explaining the differences between structured and unstructured data, comparing paid versus free data sources, and examining the value of both internal and external data. Hugo also discusses how emerging technologies such as artificial intelligence (AI) and natural language processing (NLP) are revolutionising the KYC process by not just retrieving information but also contextualising it for better decision-making. Read the full article: https://lnkd.in/eEAsHwq5 #federatedsearch #KYC #AI

We are excited to announce that smartKYC will be exhibiting at DPW Amsterdam 2024, booth number 7, October 8-10. If you are attending the event and would like to arrange a meeting to find out more about risk screening and monitoring your entire supplier base with technology, not humans, please send an email to richard.nixon@smartkyc.com or diogo.dasilva@smartkyc.com. Join us to explore the future of procurement and supply chain. To register, please click here: https://conference.dpw.ai #DPWAmsterdam #Go10X #smartKYC #innovation #ArtificialIntelligence #procurement #SupplyChain

Stay one step ahead of the regulator. Book a demo today to see smartEYE's advanced adverse media screening technology in action. Discover more here: https://lnkd.in/eWSV34U4 #smartEYE #duediligence #perpetualKYC #fintech #innovation #adversemedia

smartKYC’s award-winning software automates all that is labour intensive or impossible to do using human effort. Using artificial intelligence KYC and industry-leading multilingual natural language processing, your KYC operations will be transformed. Discover smartKYC’s award-winning technology: https://lnkd.in/eB7PKPTW #smartKYC #awardwins #technology

smartKYC is proud to announce that we have been nominated for 'Best KYC & Client On-Boarding Solution' in the Data Management Insight Awards USA, 2024! These awards recognise both established solution vendors and innovative newcomers providing leading data management solutions, services and consultancy to capital markets participants across the USA. The winners will be announced at the end of the Data Management Summit in New York on 26th September 2024. Voting closes at 5pm (UK) on Friday 12th July 2024. Vote for us in category 27 here: https://lnkd.in/gR_VGBxR #DMIawards #KYC #innovation #technology #artificialintelligence #fintech #ai