Intesa Sanpaolo to address false positives with Pelican AI-based solution

Tuesday 24 September 2019 10:18 CET | News

Intesa Sanpaolo has selected Pelican`s AI-based sanctions self-learning solution to classify and explain false positives.

Pelican is a global provider of AI-powered payments and financial crime compliance solutions for banks and corporates. The company’s solution PelicanSecure Sanctions Self-Learning employs AI technologies to analyse transactions that have been flagged for investigation by the bank’s third-party sanction screening tools. Pelican uses machine learning and natural language processing to understand and interpret human actions, helping to classify and explain the false positives generated by the third-party tools.

At Intesa Sanpaolo the solution is being deployed as part of their four-eye control project for sanctions screening – part of a market directive. The underlying Pelican AI technology platform has been live across a number of global banks for several years processing over one billion transactions worth over USD 5 trillion.

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Keywords: Intesa Sanpaolo, false positives, Pelican, financial crime, machine learning
Countries: World