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COMPLIDATA

A.I.-driven automation for

Artificial Intelligence driving
automation and optimisation in
Regulatory Compliance.

Increased efficiency and effectiveness

Trade Finance Corporate KYC Alert Risk Ranking PEP & Sanctions Screening
75%
60%
55%
99%
Automating the manual checking of Trade Finance documents & verification of consistency with LC terms, reduction of process time from 45mins to 10mins and reducing error ratio Prepopulating Corporate information directly from official source through real-time access to 200 registries in the world, and automatically extracting ID information. Catching 90% of significant alerts within 45% of total alerts. Reducing PEP & Sanctions screening alerts from 386,910 to 206.

Complidata Intelligent Agent Platform

Accessible Framework Analysis Ready Data From Analysis to Action Cloud-based Platform
A framework built on rich internal and external data, facilitating access to API-based specialist data providers, but also to open source intelligence, core operational systems and in-house data repositories. We get to analysis-ready data by unlocking paper-based assets and unstructured data, cleansing and remediating KYC information, augmenting and resolving entities. For each process a separate approach is required, which we define as smart sensors. The next step in the process is to create actionable results. This is achieved by building "actuators". These are software agents driven by artificial intelligence and not only by rules-based workflows. The Complidata Intelligent Agents for Financial Crime is available on a cloud-based platform, composed of a collection of generic sensors, generic algorithms and generic actuators, and content rich, fit for purpose, readily deployable Intelligent Agents.

Our Industry Solutions

Trade Finance Risk Monitoring
  • –   Ports & Cities
  • –   DUG screening
  • –   Sanctions & PEPs
  • –   Red flags
  • –   OCR & NLP
  • –   Vessel Monitoring
  • –   Lloyd's list API
Corporate KYC
  • –   KYCKR API
  • –   UBO detection
  • –   Sanctions & PEPs
  • –   Corporate data cleaning & optimisation
  • –   Scorecard tuning & optimisation
  • –   D&B API
  • –   Register Documents NLP
Model Tuning & Optimisation
  • –   TM model tuning
  • –   Sanctions Screening Optimisation
  • –   Client Screening Optimisation
  • –   Threshold tuning
Intelligent Investigation
  • –  Narrative
  • –  OSINT
  • –  Alert Risk Ranking
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Trade Finance Risk Monitoring

What is changing?

The complexity of the international trade system, and the huge volumes of trade flows makes it subject to a wide range of risks, ranging from unintentional but costly processing errors, fraudulent behaviour, money laundering, terrorist financing and sanction busting. The FATF has declared trade-based laundering one of the top three money laundering methodologies in the world. Regulators have turned their attention to the international trade system and increased scrutiny is forcing the industry to gear up its defences and pro-actively mitigate such risks. Next to this, the industry is keenly aware of the need to increase the efficiency of the system. Large banks are teaming up now to build blockchain platforms. There is a focus on reducing cost and avoiding error-prone manual processes. The harnessing of Big Data analytics in trade finance operations has started.

Our approach

Complidata has developed a number of A.I.-driven intelligent software agents to enhance efficiencies and effectiveness in Trade Finance.
  • Automating and digitising manual and paper-based processes
  • Event-triggered sanctions checks on all intermediaries and intervening parties
  • Dual-use goods checking
  • Real-time vessel monitoring
  • Vessel history and ownership tracking
  • Trade Finance Risk scorecard
  • Red Flags monitoring
These intelligent software agents can be applied individually, in a sequence, or as a comprehensive and complete platform.

Which problems do we address?

  • Inefficient processes by automating manual reviews and reducing errors
  • Fraud by reducing double invoicing and duplicate B.O.L.s, phantom shipping
  • Disregard of international Sanctions and Embargoes by checking all parties to the trade, vessels and goods
  • Rushed and incomplete Due Diligence at trade initiation by automating and streamlining manual checks and providing clear audit trails of the processes
  • Hidden ownership structures by resolving entities and detecting hidden links between companies
  • Regulatory transparency by proving a real-time view of essential documents and checks to assist in enforcement and AML activities
  • Customs fraud by flagging over- and under-invoicing
  • Vessels going "dark", unusual shipping routes or transshipment points by proving real-time vessel route monitoring and ports of call visualisation
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Corporate KYC

What is changing?

Recent investigation work by forensic journalists has exposed a whole industry offering shelter to large-scale tax evasion, bribery and corruption proceeds channelling, money laundering and sovereign wealth theft. Companies are at the heart of such Laundromats, and governments are instructing their regulators to prevent the abuse by imposing much stricter requirements with regards to due diligence. Given the international nature of complex ownership structures, whether for legitimate reasons or to conceal real ownership, effective due diligence processes are suddenly taking much longer, requiring more resources, often creating friction with the clients and reducing time to revenue for the financial institutions. Initiatives are popping up everywhere to outsource the processes, build off-shore investigation units, pool resources, or use emerging blockchain technology. The harnessing of Big Data analytics in trade finance operations has started.

Our approach

Complidata has developed a number of A.I.-driven intelligent software agents to enhance efficiencies and effectiveness in Corporate KYC.
  • Real-time access to more than 200 official registries worldwide via the KYCKR API
  • Corporate KYC automated data harvesting from list providers like Dunn & Bradstreet
  • Sanctions & Negative News checks on all linked our related parties: directors, power of attorney holders, UBOs, management
  • KYC risk rating
  • Automated remediation of complete book of corporate entities in the bank
  • Automated data extraction from official corporate documents in non-readable format
  • Automated data extraction from ID&V documents
  • Entity resolution and automation of entity linking
  • Robotic Open Source Intelligence gathering
These intelligent software agents can be applied individually, in a sequence, or as a comprehensive and complete platform.

Which problems do we address?

  • Inefficient company records loop-ups process by automating manual company data retrieval from registries and reducing errors
  • Poor company data quality gathered in the online channel by verifying in real time with official registry data
  • Concealed ownership by automated detection of company trees, and finding hidden links
  • Manual KYC remediation by automating data cleansing and automated extraction of ID&V documents
  • High abandonment rates during customer onboarding by auto-filling correct corporate information and increasing frictionless interaction
  • Hidden ownership structures by resolving entities and detecting hidden links between companies
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Financial Crime Detection Tuning and Optimisation

What is changing?

From OCC 2011-12 to the introduction of the European Union Fourth and Fifth Anti-Money Laundering Directive (4AMLD, 5AMLD), over the issuance of NY DFS 504 regulations and regulatory guidance like the Dutch SIRA, we have witnessed a drastically changing regulatory landscape in recent years. Financial institutions are now required to map and understand their real financial crime risk, define the level of risk deemed acceptable, and mitigate risk accordingly. The industry is obliged to move away from a "tick in the box" approach (have system, have standard scenarios) and capacity-based threshold setting (manage alert levels down to match investigation capacity). In essence, regulators require the industry to demonstrate effectiveness in detecting Financial Crime. An immediate consequence is the explosion of operating costs, and the increase of alert numbers, as legacy detection platforms provide only coarse detection. To avoid reputational risk and catch money launderers, financial institutions are resorting to "carpet bombing", with false positive ratios exceeding generally 80% and more. Since all signals or alerts are expected to be investigated, investigation teams need to drastically staff up. This is an unsustainable situation, and pressure is up to make Financial Crime remediation more efficient. Financial Institutions are aware of these challenges and have initiated large digitisation and automation programs. The quest for precision detection has been launched. The harnessing of Big Data analytics in trade finance operations has started.

Our approach

Complidata has developed a number of A.I.-driven intelligent software agents to enhance efficiencies and effectiveness in Financial Crime Detection.
  • Transaction Monitoring Optimisation
  • Transaction Monitoring Tuning and Threshold setting
  • Client Screening Tuning and Optimisation
  • Sanctions screening 2nd filtering
  • KYC parameter setting and optimisation
  • Segmentation
  • What-if sandboxes for quick scenario validation
These intelligent software agents can be applied individually, in a sequence, or as a comprehensive and complete platform.

Which problems do we address?

  • High numbers of False Positives and True Negatives by using advanced analytics
  • Inappropriate segmentation levels by applying clustering techniques
  • Information concealed in free text fields by using Natural Language Processing
  • Massive client de-risking by precision targeting of high-risk entities
  • Opaque communication with regulators by providing detailed factor analysis and traceable tuning processes
  • Volatility of criminal modi operandi by constant appraisal of model performance and monitoring of factor shift
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Investigation Optimisation

What is changing?

The shifting regulatory requirements have increased the need for better coverage of the Financial Crime monitoring, to include all verticals in a financial services organisation and all activities, even small divisions or very complex businesses. The appetite for dealing with high risk activities has also faded in the context of huge reputational damage recently incurred by some very traditional and sound financial institutions. Overall, even taking into account the possible improvements in the quality of the detection, the number of cases to be investigated is rising dramatically, and the time spent on investigations is increasing. Investigation costs are exploding to a quasi-unsustainable level and efficiency improvements are mandatory to contain the cost of regulatory compliance. But there is also a lack of domain expertise, so freeing up investigator resources handling low level alerts, would allow for these investigators to spend more time on the small percentage of high-risk cases. Finally, regulators care for better controls on the investigation processes, with increased requirements for external and internal auditors. Initiatives are popping up everywhere to outsource the processes and build off-shore investigation units, but increasingly Financial Institutions are looking at technology to render the processes more efficient and effective. The harnessing of Big Data analytics in trade finance operations has started.

Our approach

Complidata has developed a number of A.I.-driven intelligent software agents to enhance efficiencies and effectiveness in Financial Crime Detection.
  • Automatic generation of narrative
  • OSINT gathering through automating information retrieval from different sources on the world wide web, including the dark net
  • Alert Risk Ranking, classifying alerts in accordance with their likelihood to be meaningful
  • Hibernating low risk alerts to be reinitiated at the occurrence of a new alerts within a specific time span
  • Flexible Data Exploration for L2 and L3 investigators and auditors
  • Remediation Optimisation through automation and risk-based approaches
  • Audit Dashboarding and advanced reporting on investigation processes for regulatory transparency
  • Audit automation to reduce the cost and increase the effectiveness
These intelligent software agents can be applied individually, in a sequence, or as a comprehensive and complete platform.

Which problems do we address?

  • Rising investigation costs by automating the process and risk ranking alerts
  • High level of L3 alerts, by promoting high risk alerts automatically to L2/L3
  • Length of time spent on research by automating and pre-populating results of internet searches
  • Inefficient and ineffective audit by providing automation tools
  • Erratic investigators performance by closer monitoring and performance KPI€™s
  • High-cost remediation programs by external consultants by automating the process
  • Investigator staff turn-over by reducing repetitive work and shifting investigators to forensic analysis

Deployment Options

Advisory


Complidata positions itself at the crossroads between technology and advisory. It is built on the expertise and domain knowledge of senior AML professionals with hands-on regulatory, operational and technical experience on designing and managing a wide range of medium to large scale AML initiatives globally.

We embed this expertise in a general, solution-led approach, where we not only provide the technology, but also deploy it, take care of the impact on the organisation and the adequacy of the approach with regulatory expectation. We are passionate to offer our client a suite of tried and tested software and methodologies to address our client'€™s regulatory needs.

We have in our team permanent employees of a diverse set of global Financial Institutions and who understand our client's frustrations of poorly managed projects or poorly designed processes implemented by consultancies lacking deep domain expertise.

Learn more

Managed Services & Utilities


An important facet of Complidata's end-to-end approach is how we deliver our solutions as a service. This vision goes beyond simple cloud-based deployment. It comprises:

Integrated Services
We offer our clients a proven one-shop stop management consultancy, managed operational and technology capabilities as an integrated service.

AML compliant, tailored to our clients specific situation
We customise our methodologies without comprising our client'€™s AML standard from an "off the shelf product".

Control focused
Our service offering emphasis on increased testing, tuning, data completeness and quality assurance control standard demanded by global regulators.

Cost Effectiveness
Our service is subscription based and is centrally hosted without the need to maintain the infrastructure by our clients.

Learn more
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Advisory

AML Professional advisory – Service Offering

  • Regulations
    • Joint Money Laundering Steering Group
    • 4th & 5th Anti Money-Laundering Directive & European Supervisory Authorities
    • Criminal Justice Act
    • Others
  • Program Current State Assessment
    • Compile an inventory of AML controls and map them to the applicable regulatory requirements
    • Assess the design and operational effectiveness of each applicable control
    • Recommendations
    • Develop a roadmap to address any identified gaps
    • Requirements definitions
  • AML organisation and control capability framework strategy
    • Policies & Procedures
    • Target Operation Model
    • 1st line of defence, 2nd line of defence, Operations & Investigations
    • Control framework strategy and roadmap
  • Specialised Project Management Strategy
    • Advise on approach
    • Sequence of tasks
    • Data coverage
    • Up-/downstream impact
    • Testing methodology definition and automation
    • Quality assurance (operations)
    • Quality assurance (technical)
  • Program Remediation
    • Work with institutions as needed to implement remediation plans which can include both control testing as well as indicated system enhancements
  • Certification Framework and Execution
    • Document the certification hierarchy and approval processes, including coordination with international governance stakeholders (e.g., Head Office)
    • Define the sub-certification processes including program element owners and with clear delineation between processes and stakeholders under different country regulatory regimes
    • Develop documentation templates and define the artifacts required for each level of certification and/or sub-certification
    • Develop and manage a log of outstanding items
    • Assist with issue escalation and change management
    • Establish a communication structure for ongoing monitoring and reporting
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Managed Services & Utilities

AML / KYC / Sanctions Utility

Local and international regulators are now targeting mid-tier and smaller tier organisations, or specialised divisions of larger financial services organisations like investor services, trade finance and private banking, as money-launderers and other criminals increasingly use these routes.

At the same time large international operators have drastically reduced the number of their Correspondent Banks. Many operators in smaller countries are being de-risked.

The effort required to re-gain access to international relationships is often quite drastic and seems out of reach given the complexity of the organisational overhaul, the cost of installing effective AML systems and the lack of deeper understanding of foreign regulator'€™s reintegration processes.

At Complidata, we aim to provide simplified access to fully featured AML solutions and tuning, investigations and control services.

Typically, we deliver a SaaS service, hosted either in-country or in a region acceptable to regulators. Such a solution provides:
  • The SaaS Platform service
  • Customer and Payment Screening (Real-time and batch, with Workflow)
  • Customer KYC
  • Customer Risk Scoring Engine
  • Transaction Monitoring
  • Centralised Watchlist Management
  • Case Management
  • Smart alert investigation and auto alert discounting
  • Data normalisation / transformation
  • Reporting

Events

Overview of all events. Click the learn more buttons to have a closer look at the event and register for future events.

Webinar : Artificial Intelligence driving Trade-based Regulatory Compliance Learn more
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Artificial Intelligence driving Trade-based Regulatory Compliance

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Coming again soon.

This webinar will address how Complidata successfully uses Artificial Intelligence to automate and simplify verification tasks to ensure frictionless compliance with ever increasing complex regulations. Beyond the hype of A.I., where achievements so far have been essentially confined to off-line modelling on test data, Complidata have industrialised the use of A.I. in Transaction Monitoring, Clients and Payments Screening and KYC, with tangible results and increased efficiencies and effectiveness. In specific verticals like Trade Based Money Laundering detection, Complidata digitises the paper trail and provides complete monitoring of vessels, goods and parties against all types of sanctions and embargoes.

Key Topics

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Digitizing the paper trail Front office sanctions and embargo checks Dual-use goods controls
Auto-detection of relevant fields within scanned documents automates the extraction of unstructured data. Various screening checks of entities can be automated by linking them to extracted fields (e.g.: PEP, SIP, vessels, etc.). Description of goods are intelligently matched against a list of dual-use goods.
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Shipping route monitoring Vessel risk scorecard Ownership and control
Visualize and animate trade routes of vessels on an interactive map indicating all sanctioned countries. Detailed information of vessels is used to calculate a risk scorecard. Obtain a full overview of all owners, directors and UBOs of all related entities in a specific trade.
Register for the Trade Finance webinar

Who we are


We develop A.I.-driven Process Automation Solutions to streamline and optimise Compliance processes and underlying operations across several vertical domains for FSIs.

We deploy these solutions as managed services, to help our clients to define, implement and manage the controls and achieve regulatory compliance. We help our clients to make their compliance operations more effective and efficient.
Meet our team
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Our Team

Our team members have pioneered the very first AML implementations in Europe, leading to an involvement in more than 100 different projects in the last 15 years.

We witnessed the slow build-up of regulatory pressure, assisted our clients with advice on the changing regulatory environment and provided expert input in the latest EU Directives.

Matthias Verbeke
Managing Director
Filip Verbeke
Partner
Tom Hoste
Chief Technical Officer
Jolien Petré
HR Manager

Contact us

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