Bofin selects ComplyAdvantage for fraud detection and AML

Wednesday 31 March 2021 13:45 CET | News

UK-based technology marketplace for financial services firms Bofin has partnered ComplyAdvantage to lower its risk of financial crimes and money laundering.

The deal will see Bofin integrate ComplyAdvantage's screening and monitoring technology for AML data, adverse information, and published media. Bofin’s mobile app allows users to access financial products or services directly provided by financial institutions in accordance with their regulatory obligations.

ComplyAdvantage detects sanctions and adverse events while uncovering hidden risks during customer onboarding and throughout the client lifecycle. Automating AML risk monitoring will help Bofin maintain compliance oversight and integrity.

ComplyAdvantage uses machine learning and natural language processing to help regulated organisations manage their risk obligations and prevent financial crime. The company’s proprietary database is derived from millions of data points that provide real-time insights across sanctions, watchlists, politically exposed persons, and negative news.

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Keywords: partnership, AML, financial crime, fraud prevention, machine learning, ComplyAdvantage
Categories: Fraud & Financial Crime
Countries: United Kingdom
This article is part of category

Fraud & Financial Crime

Industry Events