Enterprise WatchList and Sanctions Screening

Improve Detection and Lower False Positives

The Challenge
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 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.

The Solution
Leveraging the AI disciplines of Natural Language Processing (NLP) and Machine Learning, Pelican Secure Screening is a market-leading financial crime compliance solution for Enterprise Watchlist and Sanctions Screening. 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 to ensure risk mitigation and reduce cost to compliance.

Improved Detection and Increased Efficiency

Smooth Integration

Pelican’s real-time Watchlist Screening solution can operate with your existing payments applications and gateways. It can be used to screen any type of real-time/instant payments and including RTGS, ACH, SEPA, Real-time, and is format agnostic supporting SWIFT, ISO20022, EDI, email, trade documents and any other file or message type.

Pelican Secure 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). Secure Screening comes with 40 + built in matching algorithms and expert rules along with a highly configurable rules engine containing variable parameters to manage false hits.

Pelican Secure Screening features

  • Uses unique NLP technology to screen accurately against any standard or proprietary watchlist. Pelican’s NLP reads unstructured data and determines its meaning.
  • Format agnostic - supports any network, file or message type including unstructured and free format text.
  • Evolved knowledge base – uses 25+ years evolved knowledge base along with Watchlists.
  • 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.
  • Self-Learning add-on using advanced technologies, understands and learns from human actions to minimise false positives.

Pelican Secure Screening Benefits

  • Effective Risk Management & Regulatory Compliance
    - avoiding reputational and financial risk
  • Higher Accuracy to Mitigate Human Error Risk - increases straight through processing and ensures lower human intervention and consequent errors
  • 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

  • Machine Learning Add-on for further reduction in False Positives Rates through mimicking human decision-making process
  • 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
  • Easy integration between screening and payments systems through inter-operability with the Pelican Payments and Pelican Open Banking solutions

Find Out More

Pelican Secure Brochures & Datasheets

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

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