4finance Group uses two modules of the FICO TONBELLER SIRON Anti-Financial Crime Solutions suite provided by the analytics software company:
SIRON KYC screens customers against various watch lists (provided by Dow Jones), including sanction lists, special interest persons and politically exposed persons. Screening is performed when a customer applies for the first loan, and in a nightly batch that checks the whole customer database against any changes in the watch lists. SIRON AML identifies suspicious customer behavior patterns. Each night all new transactions and the whole data set is run against the pre-set business rules, generating alerts to work with. 4finance monitors abnormal single transactions, aggregated transactions and scenario combinations.
4finance Group is a global digital finance business that combines the discipline of a rigorous, highly regulated consumer lender with the capabilities and drive of a data-driven, borrower-focused fintech. It took on this project to ensure compliance with new requirements of the 4th European Union AML Directive in online consumer lending.
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