We continually listen customer’s clients and acting on their feedback. This ensures that we are able to build better products and deliver better services.
One of the most requested features is more help with the challenge of identifying and clearing obvious false positives within a Sanctions/PEP screening process. A ‘persistent need’ to research and resolve more ambiguous alerts as well as escalating alerts that warrant further internal investigation is a thorny issues for many customers.
As a part of their broader customer onboarding strategy, our clients often use a number of different services within a ‘bundle’; such a bundle consisting of, for example, a UK eKYC check, a financial risk assessment (Sanctions/PEP etc) and well as some other ancillary services.
In direct response to the ‘Voice of the Customer’, we deployed the first piece of an ‘Alerts Remediation’ enhancement to our platform with a new ‘Audit Trail’ feature.
The enablement of this new option is available to all clients at no additional charge. It will improve the due diligence process by offering the ability to fully remediate alerts. All remediation actions are detailed within the supporting and easily accessible audit trail.
Dealing with false positives
This client feature request captured the need to allow alerts that have been raised for a PEP/Sanctions check within a bundle to be set as a false positive. It gives customers the option to change the status of an individual that may have initially failed the eKYC process to be upgraded to a pass once remediation has taken place.
While a Sanction/PEP list match can be marked as a false positive, where multiple matches have been identified – each match can be marked as a false positive individually or this can be performed as a bulk action saving you time.
Benefits of the new feature
This enhancement offers a number of additional and clear benefits to our Sanctions/PEP clients:
- Reduce time taken to remediate alerts
- Outline what remediation actions have been taken and by whom
- Streamline the alert management process more generally
- Allow ONLY designated Users to make remediation changes
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