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WATCHLIST AND SANCTIONS SCREENING


IMPROVE DETECTION AND LOWER FALSE POSITIVES

DOWNLOAD DATASHEET


PRODUCT OVERVIEW

The expansion of global watchlists and a tightening regulatory framework creates
many challenges for organisations. The need to rapidly adhere to regulatory
directives and updated watchlists across all business lines and territories can
be burdensome and complex, with serious financial and reputational consequences
for non-compliance. The adoption of Open Banking and instant payment schemes
presents further screening complexity. The amount of false positive alerts adds
to the challenge as it increases the cost of compliance and increases the risk
of human error.

Leveraging the AI disciplines of Natural Language Processing (NLP) and Machine
Learning, Pelican Secure Screening is a market-leading financial crime
compliance solution for Enterprise Watchlist and Sanctions Screening. It
delivers reputational protection across all payment processes and counterparties
and is deployed on both a local and global basis by multiple large and small
financial institutions to ensure risk mitigation and reduce cost to compliance.


80% REDUCTION IN REVIEW TIMES

Clients have seen increased compliance efficiencies thanks to our detailed alert
reports.


HIGHER ACCURACY TO MITIGATE HUMAN ERROR RISKS

AI-powered automation ensures lower human intervention and consequent errors.


CONTINUALLY INCREASE ACCURACY AND REDUCE FALSE POSITIVES

Through AI, Machine Learning technologies and self-evaluation and feedback.


HOW IT WORKS


IMPROVE DETECTION AND INCREASE EFFICIENCY

Powered by AI, our real-time watchlist and sanctions screening solution improves
detection and increases efficiency without sacrificing regulatory compliance.
The result? It provides 100% accuracy with a very low false positive rate (FPR)
- reducing review times by 80% and improving compliance.

It screens any type of real-time/instant payments - including RTGS, ACH, SEPA,
real-time - and is format-agnostic supporting SWIFT, ISO20022, EDI, email, trade
documents, and any other file or message type as well as customer base screening
against any watchlists including sanctions and embargo lists.


PRODUCT HIGHLIGHTS:

 * 40 + built-in matching algorithms and expert rules along with a highly
   configurable rules engine containing variable parameters to manage false hits
 * Format agnostic - supports any network, file, or message type including
   unstructured and free format text
 * Suitable for real-time payment schemes - high throughput / low latency
   through memory-based processing
 * Self-Learning add-on - using advanced technologies, it understands and learns
   from human actions to minimise false positives


SOLUTION CAPABILITIES

SCREENING AND AI OPTIMISATION

Natural language processing and Machine Learning for accurate detection, low
false positives, and higher STP.

NAME SCREENING

Screening names during onboarding of customers and continuous customer-base
screening.

TRANSACTION SCREENING

Real-time and batch mode screening of any domestic or cross border transaction.

FLEXIBLE SCREENING AND WORKFLOW

Intuitive and configurable user interface, customisable workflow and alert
management.

ADVANCED SCREENING

Compliance with FATF 16 (EU 2015/847), adverse media and stripping detection.

LIST AND FORMAT MANAGEMENT

Screening any format/message standard against sanctions, PEPs, adverse media and
other custom lists.


KEY BENEFITS

EFFECTIVE RISK MANAGEMENT

Avoiding reputational risk, fines and penalties with higher screening accuracy,
reducing human intervention and consequent errors.

ENTERPRISE SOLUTION

Screening all formats/message standards against any lists in one or multiple
jurisdictions.

HIGHER EFFICIENCY

Lower false positives and 80% reduction in review times due to detailed alert
information.

SELF-LEARNING ADD-ON

For further reduction in false positives rate through mimicking human
decision-making process.

SEAMLESS INTEGRATION

Easy integration with your payments systems and with Pelican Payments and
Pelican Open Banking solutions.

HIGH CONFIGURABILITY

Highly configurable user interface, workflow and alert management.


FIND OUT MORE

Built for simplicity and scalability, you can integrate Pelican in as little as
four weeks. Reach out and our global team will help you find the right solution
for your business.


BROCHURES AND DATASHEETS

For more information download our datasheet now.

Download


RELATED RESOURCES & INFORMATION

Solutions: Compliance integration. Comprehensive corporate financial crime
compliance.

Learn More >

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ABOUT PELICAN AI

Built for simplicity and scale, our purpose-built suite allows a 70% reduction
in payment processing costs, real-time compliance, significantly reduced fraud,
and improved customer experiences. Explore our purpose-built API platform.

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