Merlon’s AI powered adverse media research platform now available at no cost for financial institutions impacted by COVID-19
As cases of COVID-19 have increased so has the exploitation of individuals, entities, and governments through criminal activities such as hoarding, price fixing, and fraud. The increase in these crimes and the global attention by both regulators and the media poses enhanced regulatory and reputational risk for financial institutions.
Those institutions participating in the SBA disaster assistance loan program face a significant increase in loan applications from both new and existing clients who require proper risk-based customer due diligence, thereby adding to already-taxed AML teams.
To mitigate this increase in AML risk and workloads, both FinCEN and the FATF are recommending that financial institutions look to new technologies and RegTech companies to manage risk associated with COVID-19, including issues related to a new, distributed workforce that is required to manage more risk than ever before.
Merlon is the world’s most advanced AI-powered adverse media research platform for enhanced AML investigations, enabling financial institutions to reduce overall risk by identifying high-risk individuals and entities that cannot be found through structured data screening which is unable to keep up with the pace of Coronavirus risks. In addition to FATF predicate offences, Merlon is tracking COVID-19 risks to ensure our clients are focused on both emerging and traditional AML/KYC risk. Our SaaS product requires no installation, is activated within 1 business day, comes with built in 5 minute training, and is designed to ensure analysts and investigators are productive immediately.
In order to assist institutions to quickly adapt to the increased workflow and new challenges of a distributed workforce, Merlon is offering free access to our industry leading product through the end of August without any obligation to purchase.
Contact us to request access to this program.