Overview
- Cut compliance investigation time by automating risk analysis of legal entities, including industry classification and online presence review, with the AI risk assistant
- Reduce false positive alerts from sanctions/PEP/adverse media systems by 80% or more, freeing analysts from unnecessary manual review with the automated screening assistant
- Accelerate customer onboarding by instantly verifying business information and validating uploaded documents like registry extracts with the KYB assistant
- Maintain a perfect audit trail for every automated decision, ensuring accountability and simplifying regulatory audits by adhering to your specific workflows
- Integrate AI automation into your current tech stack without costly overhauls, using a flexible API or seamless vendor integration for a non-disruptive rollout
Pros & Cons
Pros
- Designed for fintech industry
- Optimizes AML workflows
- Enhances risk assessments
- Reduces false positives
- Auomates level one tasks
- Aligns with existing workflows
- Provides audit trail
- Seamless integration with systems
- No disruptive changes needed
- User-friendly interface
- Customizability with API
- Reduces compliance costs
- Minimizes customer onboarding friction
- Automates risk investigations
- Automates document reviews
- Addresses registry extracts handling
- Addresses proof of address handling
- Powered by large language models
- Investigates business nature holistically
- Includes industry classification analysis
- Includes address analyses
- Includes website reviews
- Includes online presence risk signals
- Can interact with existing Sanctions/PEP/AdverseMedia systems
- Verifies business information
- Validates customer uploaded documents
- Business info and document validation for onboarding
- Tool is sanctioned by regulators
- Safe to use
- Follows specific workflows and policies
- Ensures operational continuity
- Integration takes only hours
- Reduces need for manual tasks
- Creates more opportunity for strategic work
- Strengthens overall risk assessment
- Lowers customer friction
- Saves time and resources
- Flexible to internal tooling
- Offers comprehensive services
- Broadens capabilities of compliance teams
Cons
- Specific to fintech industry
- Depends on large language models
- No mention of multicurrency support
- Doesn't highlight real-time analysis
- Unclear data privacy measures
- No accommodating feature for non-AML/KYC systems
- Implementation time not specified
- Limited to due-diligence tasks
- No out-of-the-box alerting system
- Unmentioned scalability to large corporations
Reviews
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❓ Frequently Asked Questions
Diligent can automate tasks such as conducting risk investigations on legal entities, reviewing customer documents such as registry extracts and proofs of address, and reducing false positive alerts from Anti-Money Laundering systems.
Diligent optimizes risk investigations on legal entities by using AI and large language models to automate and enhance the process of due diligence. This includes analyzing the nature of business, industry classification, address analyses, website reviews, and online presence risk signals.
Yes, Diligent can review customer documents such as registry extracts and proof of addresses. It can verify business information and instantly validate these customer-uploaded documents, reducing onboarding friction.
Diligent helps reduce false positive alerts from AML systems by automatically investigating alerts from existing Sanctions/PEP/Adverse Media systems. It uses AI to identify and remediate false positives, significantly reducing the time spent on unnecessary investigations.
Diligent adheres to specific workflows and policies by using large language models to automate level one tasks. It follows your specific procedures and leaves an audit trail, eliminating the risk of non-compliance in fraud and AML teams' operations.
Yes, Diligent can provide a comprehensive audit trail. It ensures accountability and traceability by following specific workflows and policies, and logging each step of the process.
Yes, Diligent can seamlessly integrate with existing AML/KYC systems, making it easy to incorporate into your current processes without needing disruptive changes.
No, Diligent does not require any disruptive changes to your current AML/KYC systems. It is designed to integrate smoothly with your existing systems and vendors, enhancing your team's capabilities without interrupting your current operations.
Diligent's interface is user-friendly. It has been designed for ease of use, making it intuitive and straightforward to navigate. Users can accomplish tasks efficiently, reducing time spent on training and adaptation.
Yes, you can integrate an API into Diligent for customized use. This allows for flexibility and bespoke adaptation to your internal tools and specific business needs.
Diligent reduces the time and costs associated with AML compliance operations by automating and enhancing due diligence customer controls. This includes automatic investigations of risk concerning legal entities, document reviews, and reducing false positive alerts, thereby minimising unnecessary investigations.
Diligent enhances risk assessment capabilities by using AI to conduct in-depth risk investigations on legal entities. This includes industry classification, address analyses, website reviews, and identification of online risk signals providing a holistic view of the business and its associated risks.
Diligent minimizes customer onboarding friction by automating the process of verifying business information and validating customer-uploaded documents such as registry extracts and proofs of address. This ensures a smooth, efficient onboarding process.
Yes, Diligent can automate due diligence in customer onboarding. It validates customer uploaded documents instantly and verifies business information, reducing friction and making the onboarding process more efficient.
Diligent optimises anti-money laundering operations by automating tasks that would otherwise be time-consuming and labour-intensive. This includes investigations of risk on legal entities, document reviews, and reducing false positive alerts, thereby streamlining AML procedures and workflows.
Diligent helps with regulatory compliance by adhering to specific workflows and policies necessary in the AML and risk compliance sectors. It automates level one tasks while ensuring compliance with policies, reducing the risk of non-compliance.
Diligent's risk assistant function investigates the nature of business of your customers and transaction counterparties holistically, analysing aspects like industry classification, address, website reviews, and online presence risk signals.
Diligent's screening assistant function investigates automatically alerts from your existing sanctions/PEP/adverse media systems, which reduces the time you would otherwise spend remediating false positives.
Diligent's 'Know Your Business' (KYB) assistant provides instant verification of business information and validation of customer uploaded documents such as registry extracts, and proofs of address, thereby reducing friction in the customer onboarding process.
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