Explainable AI for Financial Services organisations

Transform with Autonomous Monitoring, Anomaly detection and Self Healing remediation for Compliance, Regulatory, Risk management, Fraud prevention, Know Your Customer (KYC), Anti Money Laundering (AML), Enterprise Insights with Early Warning System

Continuous Compliance

Cognino’s Connected Intelligent Services can connect to existing risk and compliance systems to proactively scan, evaluate and interpret huge volumes of unstructured regulatory content by leveraging its natural language processing (NLP) and cognitive computing capabilities. Drawing on data scattered over hundreds of regulators’ websites and databases (e.g. Basel III, MiFID II, EU GDPR, FRTB, CRR/CRD IV, FATCA, CRS, PSD II, IRRBB, AMLD IV, PRIIPs , BCBS 239 etc. for finance or MHRA, ABPI, PMCPA for life science etc), Cognino can create a knowledge base of Risk , Compliance and threat status through machine learning, early warning systems, and predictive analytics. You don’t need a separate KYC solution; the connected AI can enable a 360 view of the individual customer risk profile along with an organisational risk assessment..

Regulatory monitoring

Cognino Intelligent Core platform helps organisations automatically identify, analyse, interpret and even implement new or revised regulatory mandates.

Using Cogninio Intelligent Core, organisations can ensure their regulatory compliance assurance program is run effectively, and maintain ongoing compliance with a multitude of regulatory mandates.

Our AI can run through structured and unstructured data sources, documents, emails, chats, telephone conversation etc. to evidence and verify compliance using deep learning techniques that can identify and flag potential issues.

    • Identify and flag compliance data inconsistencies
    • Match and interpolate missing data
    • Monitor and ascertain compliance gaps
    • Generate comprehensive gaps analysis report
    • Provide rectification recommendation

KYC and Fraud prevention

Our AI solution can support a number of aspects relating to KYC compliance, including identity & background pre-checks for remote KYC, customer onboarding, real-time transaction-based KYC anomaly detection, and KYC workflow automation. For real-time transaction-monitoring based KYC anomaly detection, Cognino would conduct holistic transactions analysis by automatically deep-diving into the customer’s transaction history, behavioral profile and other unstructured data sources (such as emails, chats, negative news, social media etc.), then leverage its NLP, ML, generative modeling and sophisticated analysis (e.g. Triple Exponential Smoothing) capabilities to unearth inconsistencies. It would also automatically evolve the customers’ transaction profile and behavior archetypes as needed.

  • Customer data extraction from documents for KYC verification
  • Transfer of relevant data from documents into customer onboarding systems
  • Capturing of KYC screening results
  • Flagging of customer profiles for missing/mismatched/outdated KYC information
  • KYC profiles updates and data remediation
  • KYC reports generation

Other use cases

  • AML/fraud management: AML/fraud management: For AML, our AI solution would support advanced and adaptive real-time monitoring for high-risk entities – including against the SDN, OFAC and other sanctions lists, and/or related to unstable geographies. Using its ML, NLP, linguistic search, exploratory data analysis (EDA) and probabilistic/deterministic matching capabilities, solution would intelligently analyse, in real-time, customers’ transactions and other contextual data from various sources (such as web login activity, account profile data from CRM, public and proprietary AML databases, news sites, social media, monitoring reports, regulatory alerts, consortium data, financial records etc.). It would then leverage this information to screen for numerous money laundering risk signals, enable true identity-matching, identify complex money laundering typologies and patterns, and detect early warning signals.
 
  • Internal audit compliance: Internal audit compliance: By leveraging our AI solution, organisation would be able to achieve significant improvements in the quality and effectiveness of their internal audits processes. For example, solution can help, move away from their traditional random and backward-sampling audit approaches to an automated, real-time and comprehensive audit framework.
  • Tax & accounting compliance: Tax and accounting compliance: Cognino can help a global organisation to automatically categorise taxable income into appropriate country-specific tax buckets, detect tax computation errors, and propose beneficial tax strategies. Our solution can enable dynamic dashboards for sophisticated scenario analysis, tax forecasting, and reporting.
 
  • Compliance staff tools. Compliance staff tools. Our AI solution can enable a number of additional support tools for the compliance management teams, including virtual assistants for queries resolution, dynamic dashboards and data visualisation tools, false-positives suppression tools, and case management tools.

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