Intelligent TriageIntelligent Triage

Our Intelligent Triage solution leverages AI to mine additional insights from alerts generated by existing transaction monitoring systems, risk ranks the alerts based on such insights and provides the analyst with a single triage experience.

The triage models clusters not only the alerted transactions but also other relevant transactions to help user locate high risk transactions, and contextualize the activities alerted to identify cross-scenario behaviors. In addition, the application automatically screens counterparties from the transactions and use the risk identified from screening results to reveal hidden networks, which brings all customer-related information to the compliance analyst by aggregating and accumulating alert information around the customer, not just the transaction. Together, Merlon’s AI-enabled FCC platform and application ecosystem makes the impossible possible by giving you the ability to break through the status quo and actually understand who your clients are so you can win the fight against financial crime.

Alerts are generated across the entire financial crimes and compliance workflow. From exceptions raised during customer onboarding, to KYC reviews and transaction monitoring, the alert triage process has become a costly undertaking for every group within the financial services industry.

 

Not every alert
is created equal
or should be treated
equally.

This creates a workflow nightmare for the compliance analyst. With thousands of alerts being created nightly, and alert disposition requiring information from numerous systems (previous alerts, onboarding data, current news and screening information and case notes), the compliance analyst is left with the task of whether to dispose, suppress or escalate an alert to a case, all while manually reviewing data from dozens of internal systems and data sources.

This provides the compliance analyst with a unified customer onboarding experience, driven by AI, where customer risk is ranked based on a holistic view of the customers relationships, news and information, and recommendations are made using the latest in machine learning and artificial intelligence capabilities.

With our Intelligent Triage solution:

  • Robust entity matching (avoiding traditional simple name matching and embedded names cases like Hiranko)
  • Merlon Identity Index reduces false positives for all beneficiaries, including that are not banks’s clients due to enriched
  • information from external sources and feedback loop
  • Enriched entity representation, reducing false positive cases for disambiguated entit
  • Models continually learn online and improve via a feedback loop

It’s not an easy task and fraught with errors.

Just one mistake can lead to a tremendous regulatory exposure, and there is a limit to how much responsibility a single compliance analyst can undertake. With limited information and legacy tools and technology, it’s only a matter of time. An alert will be disposed of for the wrong reason, and true positives will be overlooked.

Merlon Intelligent Triage is changing how alert triage is being conducted. By leveraging AI, our solution provide the analyst with a single triage experience, bringing all customer related information to the compliance analyst and aggregating and accumulating alert information around the customer, not just the transaction.

 

A Customer Centric View 
of an Alert:

Ask any compliance analyst, a transaction-centric view of an alert provides one piece of the alert triage process, but a customer-centric view, with all customer-related information accumulated around the alert provides an opportunity for previously unimaginable alert processing efficiencies and effectiveness.

And with all customer risk information organized around each alert, our Intelligent Triage solution then uses AI to augment workflow, rank risk and recommend next steps, including:

  • Auto Risk Ranking
  • Entity & Activity Risk Aggregation
  • Triage Trending (Hidden Networks)

A single view

See the demo
Screenshot