1. What is your unique value proposition?
FinCom.Co is based on a unique proprietary technology called “Phonetic Fingerprint”. It
decreases the number of false positives by 90% in real-time (less than a second). Unlike any
other system, FinCom.Co can process data in 25 languages saving companies a lot of money
and effort of verifying the entries manually. Utilizing over 36 algorithms running in parallel it
enables to cross-reference various attributes. FinCom.Co’s technology is the most advanced
technology to date which enables to match databases.
2. Who are your competitors?
Refinitiv (Thomson Reuters) // Lexis Nexis // ComplyAdvantage // IdentityMind // SmartKYC //
Nice Actimize // Onfido // Accuity// Factiva ( Dow Jones)
3. What are your key differentiators from the current players?
FinCom.Co has deployed the next generation of technology for AML, GDPR, Database
Cleansing, essentially FinCom.Co’s technology is the most advanced technology to date which
enables to match databases. Utilizing over 36 algorithms running in parallel enabling to
cross-reference various attributes (such as: name, birthdate, address, phone number, etc.) to
get the most accurate match even across 25 different languages and across database formats
to different technologies, that up to now were impossible obstacles to conquer. The foremost
technological development within the entire system is our proprietary “Phonetic Fingerprint”.
The existing market leaders rely on rule-based matching together with NLP technology than
running a fuzzy logic engine afterwards a manual processes to reduce the false positives. All
the known systems in the world to date do not support cross-language matching and
verification, some can support a different language search but without cross-referencing.
From a cost perspective FinCom.Co is significantly cheaper, whilst enterprise checks/fees per
transaction start from 0,80- 1 EUR per transaction, FinCom.Co is just 20-15 cents.
4. Do you use open source only data bases to make a KYC/AML check or you also
have some partnerships with extra data?
We enable to add whitelists and blacklists from the corporates via an API to personalize the
screening process – this is another major advantage of ours. This provides our clients that are
global players to use their global view and access their localized fraudster list as we can
cross-reference all that data across 25 languages – reducing their risk.
5. What clients do you have?
We have a signed contract with Playtech – the biggest gambling software development company
in the UK. Our strategic partners are Capgemini and Microsoft. We are in the midst of a pilot
with tier 1 bank in Spain, top 3 insurance provider in Germany and many other financial
institutions and cryptocurrency exchanges as well as governmental bodies both in the UK and in
6. What is your business model and pricing?
FinCom.Co technology is available either as an on-premises or SaaS solution. We divide our
target customers into SMEs, and though the acceptable pricing mechanism is per-transaction.
We can cap the pricing after a certain volume of transactions translating into a licensing model –
monthly or annual charge. We have three levels of yearly licensing for small companies, for
medium size companies, and corporates. We don’t charge for additional language searches or
for ongoing monitoring.
7. Why does the technology work? How did you test it? What is a quantitative
indicator proving this?
We take for instance 10,000 names, that have 3,000 of them marked with false positives, and
the amount of “false positives” per each one of the 3,000 names. We also have about 150
names that are actual hits. We run the database within our system and match the results – a
perfect score would be that we only match and find the 150 actual hits. But the score of such a
test can also be very favorable even if FinCom.Co system finds 2,000 “false positives”, yes, it is
far less than the 3,000, but the real question is what was the amount of “false positives” per
search. Meaning for example 3,000 x 25 Average “false positives” = over all 75,000” “false
positives”, and as stated the FinCom.Co system had 2,000 x 2 Average “false positives” =
overall 4,000 “false positives”. If we calculate at minimum 50 Euro per “false positives” the test
shows that the comparison “false positives” verification cost = 3,750,000 Euro as FinCom.Co
system would reduce the “false positives” verification cost to 200,000 Euro with a hard-direct
saving of 3,550,000 Euro.
8. Does your technology contain a manual step?
We do allow manual feedback – based on which we can add a variation to a name (like an aka).
This manual addition will be treated by the system as an anomaly, meaning that the system will
not try to push this specific variation to all similarly spelled names, but take it into account in
rendering a result.
9. How can we integrate?
We offer two models of integration either as a SaaS solution or on premises with 24/7 IT
10. How do we set up a pilot?
Together with our team of professionals you discuss the whole process that shall include
1. Small pilot ( batch of 1000 names)
2. Comparison results and review session
3. PoC via API ( or On Prem)
4. Comparison results and review session
5. Full integration process starts
11. How many languages are you currently processing?
We support 25 languages from the list below:
1. Latin (15):
2. Cyrillic (6):
3. Chinese (1):
4. Korean (1)
5. Hebrew (1)
6. Arabic (1)