WLS + Entity Resolution

Watch List Screening (WLS)

SIORK WLS adopts matching algorithm, ideographical matching scores to improve the accuracy of Latin and Non-Latin list screening scores. The authorities recognize the character issues and often issue the domestic sanctions list in local language writing to eliminate the translation risks between the local language character and the international phonetic spellings

SIORK WLS’s name matching algorithm supports both Romanic spelling and Chinese character fuzzy matching. SIORK adopts an innovated matching algorithm with Ideographical Matching scores to improve the accuracy of list screening scores. Additionally, SIORK WLS supports the real-time blocking mechanism for high risk customers.

Entity Resolution

SIORK entity resolution assists firms to create a single view of the customer. Improving single views of the customer helps firms to satisfy regulatory requirements for advanced data management and risk-based compliance tools.

There are many messages and type of data that can be imported into the firm’s compliance platforms. However, most data sources don’t import totally clean and structured. SIORK helps firms create their own universal identification codes (external party ID) by aggregating a myriad of data and sources into consolidated entities.

One to many and many to one

Compliance requirements to the fullest extent possible through better entity visibility and improved data linkage.

Fund Flow Visualization

Mitigating the risk exposure inherent in propaganda, risk impact to the third party (external party).

Detection of money laundering

Uncovering politically exposed individuals and entities and taking required steps to avoid the implications of doing business with such entities

Entity Resolution is an increasingly important element of the KYC, Sanction Screening and Transaction Monitoring process, especially for firms with correspondent banking business and international customers and lines of business in foreign markets.

It helps firms create a unified record for individual and other entities by combining data and information from multiple sources and resolving the different spellings and addresses.Financial services firms can improve their compliance programs to meet regulatory requirements and help governments fight crime and terrorism by detecting money laundering and stopping the flow of funds to increasingly sophisticated bad actors.

They can position business to benefit from a strong and comprehensive AML process.