Lower Cost, Greater Accuracy, Increased Efficiency
Fincom’s advanced “Phonetic Fingerprint” technology, will enable you to quickly trace any Entity by Name Pronunciation or “Name-Sound”, based on a Single Mathematical Representation. The resulted “Accurate Name Matching” will improve and lower significantly your operational costs and prevent unnecessary fines, whilst increasing reliability and maintain your reputation.
The Trade off between Penalties vs. Poor Customer Service & Legal Claims. The Consequences are: damage to reputation, profit, share value and costs.
The Ideal Solution should include Reliable Identification, with no missed-hits, and no false positive.
Step 1- Indexing Sanction Lists/PEP/Blacklists with “Phonetic Fingerprints”
Step 2 – Comparing Entity’s “Phonetic Fingerprints” in wide funnel (multi-lingual) – covering 100% and avoiding Missed-Hits
Step 3 – Applying AI/ML engines to filter out False Positives
PHONETIC FINGERPRINT is a mathematical representation of the name of individual person or other entity (example: company name).
How do we do it?
Using automated Real-time technology, supported by AI-ML layers, using over 48 mathematical algorithms resulting in accurate matching of names across 38 different languages, transliterations and spelling variations.
TRACING PHONEME & ACCURATE NAMES MATCHING across –
A range of products, covering Accurate Name Matching, Onboarding & Ongoing Monitoring Automations, Transaction Screening, Adverse Media, Level 1& 2 Filtering and Optimization Engines.
Confirmation of Payee (COP) – Verifying beneficiary on a payment against bank account holder for preventing CEO/Invoice Fraud.
360 Risk Assessment – Creating a single customer view – constructing customer risk profile, understanding exposure and forecasting potential risks.
New US congressional legislation passed last month instructed FinCen of the Treasury Department to warn and make sure that financial institutions mainly banks stop the
Screening of Names is a fundamental action that financial institutions & Fintech’s must perform as part of their AML compliance obligations, and this seemingly simple
So, any unknown person Mr. X opens a bank account, and they pass the KYC process with flying colors, and no transaction from them or