W2-Matching-Logic

W2 fights compliance false positives with improved matching logic

In any compliance program in any financial institution or corporation, everything must be pivoted on having strong controls.

At risk of hefty fines, businesses need to understand what their sanction risks are, where there are risks and how are they managing those risks.

However, keeping up with ever-changing Politically Exposed Persons (PEP) and Sanctions lists presents a challenge for organizations.

These lists grow daily, and data published by the multiple different issuing bodies does not always align making it more difficult than ever for businesses to effectively identify and manage sanctions risk.

W2 have recently introduced several new enhancements to its screening, monitoring and alert management capabilities to address this.

Currently being tested by a few key clients, these additions create better operational efficiencies by lowering false positives and delivering highly accurate and prioritised alert results, while making it easier to keep up with the latest regulations and watchlists.

Based on early results, our next-gen matching engine – leveraging the latest cloud based, cognitive services – is driving down false positives by up to 80%.

Based on feedback from our clients, our effort to reduce false positives is essential if the time, resources and money of their compliance departments is to be better spent.

Low levels of false positives enable our clients efforts to be better focused on analysing true hits.

Such RegTech innovation brings efficiencies through automated and manual processes, enables our clients to scale without having to raise the number of in-house compliance specialists.

To see the difference, you may want to consider upgrading your current system with the very latest sanction screening technologies from W2.

To get a demonstration or to talk to us about how we can help you reduce your false positives, contact us at hello@w2globaldata.com

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