back Back

Owlin launches AI-based Due Diligence solution for banks

By Gloria Methri

February 28, 2024

  • Compliance Risk
  • Due Diligence
  • Europe
Share

Owlin, KYC, customer onboarding, monitoring, screening, offboarding, AI, Natural Language Processing, Netherlands, Owlin for Banks, Third Party Validation, Due DiligenceOwlin has announced the release of Owlin for Banks, a comprehensive solution for Third-Party Validation and Due Diligence. The new solution caters to all teams within a bank that deals with Third-Party Validation and Due Diligence (e.g. vendors and KYB).

Owlin for Banks facilitates seamless onboarding, monitoring, and offboarding of third parties while ensuring compliance with regulatory requirements.

To meet the needs of banking clients, the company includes data covering Adverse Media, Sanctions, Politically Exposed Persons (PEP), State-owned Enterprises (SOE), various Watchlists & Blacklists, U.S. Securities and Exchange Commission (SEC) filings, and the Consumer Complaint Database of the U.S. Consumer Financial Protection Bureau (CFPB).

The development comes soon after the launch of Owlin’s end-to-end Know Your Customer (KYC) solution tailored for Payment Service Providers (PSPs).

With Owlin for Banks, users can go beyond traditional Google searches, going back seven years for adverse media signals, have global language coverage (17 languages), and show adverse media articles that cannot be found anymore via a regular search.

This translates into unparalleled speed to insights and time savings – transforming a sea of data into clear, actionable insights. The product distinguishes itself with seamless integration capabilities into existing tools and systems banks utilize. It recognizes that many users already have many tools to perform their tasks.

Stefan Peekel, Chief Growth Officer at Owlin, expressed his enthusiasm about the launch, “After the successful launch of Owlin for KYC customized for PSPs, we are excited to expand our offerings to banks. Ever since the outcome of the Bunq lawsuit against DNB (De Nederlandsche Bank), which permitted the use of AI in compliance processes, we have observed a growing demand for AI solutions for Governance, Risk, and Compliance (GRC). Therefore, we have been extremely excited to offer our services as an end-to-end solution for banks. This solution will help banks utilize modern technologies like data analysis and artificial intelligence to bolster their risk management practices and maintain regulatory compliance.”

Previous Article

February 28, 2024

audax & Thought Machine team to offer digital banking & BaaS solutions

Read More
Next Article

February 28, 2024

Malaysia and Cambodia join hands to boost payments capabilities

Read More








IBSi Daily News Analysis

bahrain, islamic finance

April 17, 2024

Compliance Risk

Sovereign upgrades elevate Sukuk ratings; GCC debt markets on track to break $1tn barrier

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

Ozone API and Thistle Initiatives help banks prepare for PSD3

Read More

Today

Entrust completes acquisition of ID verification provider Onfido

Read More

Today

Worldline partners with RiskQuest to streamline credit checking

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023