Kompli-Global launches screening solution – Kompli-Reveal

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RegTech AML specialist, Kompli-Global, has today announced the launch of Kompli-Reveal, a screening solution powered by AI and human expertise for providing companied with latest information on their client bases. The new solution is expected to screen existing client bases for organisations to reveal their real-time status and allow reconciliation of the data.

Jane Jee, CEO of Kompli-Global, explained, “It is understandable that fraudsters don’t want financial organisations to understand this technology or use it widely. It is accurate, cost-effective, and takes minutes to provide regulated entities with the most complete and update information on their customers. We’re pleased to be taking the fight to fraudsters, money launderers, and suspicious customers that once onboarded proceed to get up to no good.”

According to Kompli, the first stage of the process uses Kompli-Konnect for searching for corporate registry data. The information is then reconciled against the records submitted to Kompli-Global by the client.

Once the information is appropriately analysed Kompli-Global can then screen the relevant entities through various data processes, including Kompli-RiskCheck, to reveal potential scenarios that may expose a client to increased risk or non-compliance. These include PEPs and Sanctions checks but now with more accurate data to input. Finally, Kompli-IQ (directories and watchlists) and Kompli-IQplus (adverse media) are used to check for any negative information.

Jee added,  “We have already had positive feedback from companies using this system that has presented clear examples of onboarded customers changing trading names and directors to which the organisations are unaware of. Typically, for the companies we have worked with, 10% of their customer base have details that have changed, and by using Kompli-Reveal, we can ensure they remain compliant and free of potentially damaging consequences.”