Sibos 2015: iGTB launches new sanctions screening tech

Sibos 2015: iGTB launches new sanctions screening tech Transaction banking platform iGTB has unveiled an “artificial-intelligence-empowered” KYC solution called Sanctions Screening at Sibos in Singapore. The solution, which has been designed with financial compliance in mind, incorporates a natural-language contextual search of social media to construct a broader and more accurate view, which the company says goes beyond current KYC methods. “With KYC a primary concern, yet current list-based screening deemed insufficient by regulators, banks must scan search engines, social media and other unstructured and un-auditable sources if they are to accurately identify high-risk clients… In one example, 6% of a bank’s supposedly ‘clean’ names were discovered to be high risk,” reads a statement from the company. “iGTB’s new solution, now live, leverages machine learning, artificial intelligence and other state-of-the-art…


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