SOLUTIONS — ADVERSE MEDIA MONITORING

Automate negative news screening

Negative news can indicate a potential risk of financial crimes. As regulations become tighter and banks are under increased scrutiny for AML compliance, negative news screening has become one of the key functions required by regulators.

The challenge of adverse media screening

Banks allocate a big portion of employee time to this task. Analysts must review entities during the customer onboarding process and continually on a periodic basis. They search for news sources and interpret hundreds of results to do so. The goal is to find any negative reports that suggest the customer or client is a risk, triggering further investigation if necessary. AML analysts face several key challenges with adverse media screening:

Unstructured data requiring judgment and effort toward quality control to validate decisions
High risk due to the “needle in a haystack” nature of this process and a low tolerance for error
A fragmented process with tens to hundreds of analysts combing through mountains of news articles
So much time spent devoted to reviewing adverse media alerts

There is a smarter way

We created our adverse media monitoring software with a singular goal: creating the time and space for teams in highly regulated industries to do their best and most innovative work.

WorkFusion’s AI Digital Worker, Evelyn, solves the biggest pain points around negative news screening including the high cost, manual tasks, team bandwidth and the sheer volume of work presented by an increasingly complex compliance environment. This frees L1 Analysts to work on higher-value investigations.

Document types: online news articles and negative news alerts

Integrations: Thomson Reuters CLEAR, LexisNexis Risk Solutions, Dow Jones Factiva, World-Check (Refinitiv), Google News

Increase Team
Capacity

Our AI adverse media and sanctions screening analyst is like an employee that is immediately productive, never gets tired, and is available 24/7. One Digital Worker can be scaled to do the work of tens or hundreds of employees with production-grade precision. And, because it focuses on painstaking manual tasks, it frees up capacity for the rest of the team to focus on truly investigative AML work. It is also a cost-effective alternative to offshoring, outsourcing or temporary labor.

Reduce Manual
Screening by 80%+

Our negative news software is designed to balance speed and accuracy while reviewing and analyzing sanctions alerts. This quick-yet-cautious approach helps financial crime and compliance teams reduce manual review time by more than 80%.

Maintain Compliance
at Scale

Powerful AI and machine learning capabilities help our adverse media screening tool review alerts at superhuman speed. Compliance processes that might take a human 20 minutes can be accomplished in less than two minutes, which means our solution can review more than 1 million alerts each year.

Keep Your Team
in the Loop

WorkFusion’s adverse media tool quickly finds relevant information from internal systems, commercial resources and the internet to determine if the case is missing critical context, requires further review or is simply a false positive. It provides comprehensive written explanations for all decisions and escalates cases as needed through its “Human in the Loop” capability.

Screen More
Content

Typically, analysts can only review a limited set of news articles because they need to control the time spent on any one alert. Our automated alert screening solution can vastly increase the scope of media reviews and process more content in a fraction of the time.

Auto-Generated
Narrative Report

It’s time to move past cumbersome reporting workflows that rely on the manual assembly of screenshots and text snippets. Our adverse media screening tool automatically builds a clear, context-rich narrative report that details each article and describes how it contributed to the overall risk evaluation, so your analysts can spend more time assessing risk and less time copying and pasting.

See Evelyn in action

We created our adverse media monitoring software with a singular goal: creating the time and space for teams in highly regulated industries to do their best and most innovative work.