Enhanced compliance and reputational protection
Improve detection and lower false-positives
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 Sanctions lists across all business lines and territories can be burdensome and complex, with serious financial and reputational consequences for noncompliance.
Leveraging the AI disciplines of Natural Language Processing (NLP) and Machine Learning, PelicanSecure Enterprise Sanctions Screening is a market-leading financial crime compliance solution. 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.
Pelican’s real-time Sanctions Screening solution can operate with your existing payments applications and gateways. It can be used to screen any payment type including RTGS, ACH, SEPA, Real-time, and is format agnostic supporting SWIFT, ISO20022, EDI, email, trade documents and any other file or message type.
PelicanSecure uses AI and NLP to improve detection and increase efficiency without sacrificing regulatory compliance, providing 100% accuracy with a very low false positive rate (FPR). Pelican comes with 40+ built in matching algorithms along with a highly configurable rules engine containing variable parameters to manage false hits.
Sanctions Screening features
- Review Times Reduced by up to 80% with detailed alert information resulting in increased compliance efficiencies.
- Lower False Positives -utilising AI, NLP and context based parsing techniques to derive meaning from payments, significantly reducing FPR to very low levels.
- Highly configurable -enterprise-wide protection, working with global watchlists across all your operating territories.
- Advanced Case Management - with integrated email and alert notes providing comprehensive details for review and audit purposes.
Self Learning Optimization: Dramatically Reduce False Positives
A Unique combination of AI-based Natural Language and Machine Learning technology
- Self-Learning Optimization uses advanced technologies that work with existing third-party screening tools
- Understands human actions to dramatically reduce false positives and lower compliance costs
- Natural Language Processing (NLP) and Machine Learning technologies to capture, analyse and learn from user actions and payments attributes
- Detailed explanation for false positive alert reductions for management and regulatory audit
- Reduced false positives by 85% at a large global bank
- Format agnostic - supports any network, file or message type including unstructured and free format text
- Flexible integration with counterparties, networks and back-offices supporting any protocol
- Suitable for real-time payment schemes - high throughput /low latency through memory based processing
- Integrates multiple global and proprietary watchlists for customizable compliance requirements
Sanctions Solution benefits
- 100% accurate screening across all required payments and counter-parties
- Continuous reduction in FPR through use of machine learning technologies
- Effective Risk Management & Regulatory Compliance
- avoiding reputational and financial risk
- Reduced review times through rich omni-channel user-interface and dashboards
- Easy integration between sanctions and payments systems through inter-operability with the PelicanPayments and PelicanFast solutions
Find Out More
PelicanSecure Brochures & Datasheets
Please use the Download button below to access the full library of PelicanSecure information resources, including datasheets covering Payments Fraud, Real-Time AML, Sanctions Screening and Trade Based Money Laundering detection.
Related Resources & Information
Webinar: The dark world of U.S. payments fraud.Learn More
Article: How to outpace criminals in the cyber arms race.Learn More
Article: Effective strategies to combat payments fraud.Learn More
Webinar: Payment fraud—innovation in the banking ecosystem.Learn More
Solutions: Compliance integration. Comprehensive corporate financial crime compliance.Learn More
Solutions: Transactional anti-money laundering across the payments lifecycle.Learn More