Intelligent Financial Crime Compliance for Payments and Trade Finance

Industry-leading Compliance and Fraud Prevention

The Challenge
The threat landscape for global payments has grown in reach, volume and complexity. Anti-money laundering, sanctions obligations and fraud detection are part of a broad compliance challenge across payments and trade finance. Recent breaches across correspondent banking networks highlight the ever-increasing threat of payments crime and the particular vulnerabilities to SWIFT, Real-Time Gross Settlement and Wire payments.

The Solution
PelicanSecure is a comprehensive suite of Financial Crime Compliance applications protecting all stages of the payments and transaction lifecycle – comprising four modular solutions covering Sanctions Screening, Self learning optimisation; Proven False positive Reduction, Trade Based Money Laundering, Real-time AML and Payments Fraud Prevention.

Watchlist and Sanctions Screening

Comprehensive Enterprise Watchlist and Sanctions Screening Compliance

The need to rapidly adhere to regulatory directives and updated watch lists across all business lines and territories can be burdensome and complex, with serious financial and reputational consequences for noncompliance. 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 unique combination of Natural Language Processing (NLP),  Machine Learning and Pelican's expert knowledge, Pelican Secure Screening is a market-leading financial crime compliance solution for Enterprise Watchlist and Sanctions Screening.

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Pelican Secure Screening Features

  • Uses Unique Natural Language Processing (NLP) technology to screen accurately against any standard or proprietary watchlist
  • Support for any file format, or message type, including unstructured and free format text
  • Review times cut by 80%, with detailed alert info and investigation dashboard
  • Self-learning functionality ensuring lowest False Positive Rate (FPR)

False Positive Reduction for Screening Solutions

A Proven way to reduce your False Positives whilst securing your legacy investment

Watchlist Screening is becoming ever more complex, with false positive rates increasing for many institutions. The amount of false positive alerts adds to the increase of cost an increased risk of human error.

Pelican Secure Self Learning Optimisation is a giant leap forward in the watchlist screening industry. It integrates with your existing watchlist screening solutions to drastically reduce false positives, cutting compliance cost and delivering reputational protection across all payment processes and counterparties while protecting your compliance investment.

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Pelican Secure Self Learning Optimisation Features

  • Natural Language Processing (NLP) and Machine Learning technologies to capture, analyse and learn from user actions and payments attributes
  • Ongoing supervised learning on how alerts are resolved
  • Full control by authorised users in configuring the engine logic, parameters or thresholds authorisations
  • Detailed explanation for false positive alert reductions and full transparency and audit trail for every action taken
  • Extensive knowledge base library of rule-like understanding models to enable fine tuning of alert generation
  • High throughput and low latency to assure high performance

Anti Money Laundering Transaction Monitoring

AML Transaction Monitoring across the payments life-cycle

Failure to comply with Anti-Money Laundering (AML) legislation of all the territories in which you do business can have serious financial and reputational consequences for your organisation. The need to rapidly adhere to updated AML compliance and reporting obligations can be burdensome and complex.

Pelican Secure AML is able to meet rapidly evolving global AML challenges. It can support all your Offline (end of day) as well as Real-Time AML compliance obligations across all business-lines and territories.

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Pelican Secure AML Features

  • Uses machine learning and NLP for pattern anomaly detection of money laundering activity in offline and real-time modes
  • Flags suspicious transactions before they leave the door
  • Modular based AML solution which can integrate with existing systems
  • Rich omni-channel user-interface with mobile and tablet support.
  • Advanced analytics and reporting enabling efficient alert management

Trade Digitisation, Automation and Compliance

Innovative AI based Solution for Trade Compliance

Following a regulatory tightening of compliance checks on payment systems and processes, Trade Finance is now under increased regulatory focus. There are multiple stringent new guidelines in force, including from Singapore’s MAS, Hong Kong’s HKMA and the UK’s FCA.

The advanced Pelican Secure Trade solution addresses the growing challenge of Trade Screening and Trade Based Money Laundering - securing global trade, managing risks and protecting your reputation. The AI-powered end-to-end trade transaction cycle monitoring solution can derive meaning and understanding across all trade instruments and messages.

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Pelican Secure Trade Features

  • Applies OCR technology for trade paper digitisation to extract relevant information from all documents with the highest degree of accuracy
  • Leverages AI discipline of Natural Language Processing (NLP) to derive meaning and understanding across all trade instruments and messages
  • Effective Trade Compliance covering enhanced Sanctions and Dual-use Goods Filtering and TBML Red Flags checks.
  • Ability to understand free format information in multiple trade documents and instruments
  • Performs consistency checks on key information across multiple trade documents in different formats

Real Time Payments Fraud Detection

A.I. Powered Fraud Detection

Truly effective Fraud Protection requires solutions that do not merely respond to past patterns of attack, but ones that deploy highly advanced predictive and anomaly aware technology – detecting and preventing new fraudulent payment patterns in real-time.

The Pelican Secure Fraud Prevention solution uses Machine Learning Artificial Intelligence technology to analyse patterns of behaviour to identify and flag subtle anomalies that are indicative of fraud.

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Pelican Secure Fraud Features

  • Utilises Machine Learning to analyse patterns of behaviour to identify fraud.
  • Comprehensive hybrid approach, with Rule Engine, Supervised learning and Unsupervised learning.
  • High throughput/low latency solutions provider certified to support real-time schemes.
  • Machine Learning enables evolution of understanding and pattern analysis to keep one step ahead of fraudsters
  • Improved efficiency with significantly reduced false positives

Pelican Secure Solutions

Pelican Secure

 

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Pelican Secure Brochures & Datasheets

Please use the Download button below to access the full library of PelicnaSecure information resources, including datasheets covering Payments Fraud Detection, Offline and Real-Time AML, Sanctions and Watchlist Screening and Trade Based Money Laundering Monitoring and Screening.

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Related Resources & Information

Webinar: The dark world of U.S. payments fraud.

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Article: How to outpace criminals in the cyber arms race.

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Article: Effective strategies to combat payments fraud.

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Webinar: Payment fraud—Innovation in the banking ecosystem.

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Solutions: Compliance integration. Comprehensive corporate financial crime compliance.

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Totally Integrated. Uniquely Powerful.

Pelican's solutions leverage the unique capabilities of the PelicanPlatform.

Each of Pelican's award-winning payments and financial crime compliance solutions leverage the advanced capabilities and technologies of the PelicanPlatform. These include the Artificial Intelligence disciplines of Machine Learning, Natural Language Processing and Voice processing; Open API integration; rich Omni-Channel UX; flexible Cloud deployment scenarios; and Real-time capabilities.

Collectively they provide a uniquely rich technology core, powering the most advanced and capable payments and financial crime compliance solutions.

PelicanPlatform

The foundation to all Pelican's payments and financial crime compliance solutions

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Innovation Hub

An innovation environment for banks to build their digital future

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About Pelican

Our mission is to deliver innovative and agile solutions, powering your growth.

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