Overview

Shift Financial Crime Detection empowers insurers to combat financial crime by accelerating entity identification and checks against sanctions, watchlists, adverse media, and suspicious transactions. This enables them to defeat bad actors and ensure regulatory compliance in real time. The solution automates time-intensive tasks, allowing insurers to onboard more customers quickly. It minimizes false positives through best-in-class entity resolution, including deduplication and data cleansing. The system offers configurable sanctions and watchlist management to focus checks effectively. Automated adverse media searches save significant time. By automating checks and screening processes in seconds, Shift significantly increases coverage and confidence.

Features

• Entity Identification and Checks: Accelerates entity identification and checks against sanctions, watchlists, and adverse media.
• Real-time Compliance: Ensures regulatory compliance in real-time.
• Automation of Time-Intensive Tasks: Automates checks and screening processing in seconds.
• Deduplication and Data Cleansing: Minimizes false positives through best-in-class entity resolution.
• Configurable Sanctions and WLM: Configurable sanctions and watchlist management to focus checks.
• Automated Adverse Media Search: Saves hours with automated adverse media searches.
• AI Risk Scoring: Employs AI risk scoring to detect suspicious scenarios

Benefits

• Comply Efficiently: Automate time-intensive tasks to get more customers on board quicker.
• Reduce False Positives: Minimize false positives through deduplication and data cleansing.
• Avoid Costly Risk: Mitigate the risk of financial crime and associated penalties.
• Increase Coverage: Significantly increase coverage and confidence in compliance efforts.