Adverse media screening is a very effective tool, and often the only way, to identify high-risk individuals and businesses as part of KYC, AML or due diligence. Yet, historically it has been a slow, tedious and manual process.
At Merlon, we are continuously adding new features to automate this process and to make it simple, more accurate and much quicker.
We are happy to introduce a new disposition menu that brings more transparency into remediation and more evidence snippets allowing you to make more reliable decisions on the Finding level without having to read the full articles.
Keep a transparent record of all remediations with a new disposition menu
To automate adverse media screening, Merlon automatically distinguishes Findings in which our AI model identifies risk related to the searched subject from those Findings where no relevant risk was detected.
Findings in which risk was detected are sorted by relevance in the Pending section and are awaiting your review. Findings that do not include relevant risk are automatically dismissed and appear in the Dismissed section.
For example, if you investigate Patrick Plummer, Merlon returns 4 Findings that are Pending your review and 82 Findings that are automatically Dismissed. These automated actions are marked as Merlon Findings and commonly result in 90%+ reduction in review effort.
Even though Merlon’s automated Findings minimize your review effort you are the one that has the last word. The disposition menu allows you to stay on top of the review process and instantly see whether the disposition is an outcome of automated Merlon Finding or your own decision.
When you see a Merlon logo in the disposition menu it indicates that the decision was made automatically by Merlon. Once you remediate your decision will be reflected in the disposition menu by showing a “user” symbol with a respective decision (Relevant, No Risk, No Match).
For instance, if you decide that the Finding below represents a risk for your institution, mark it as Relevant and the Finding will be moved to the Relevant section. Your remediation will appear in the disposition menu and will be a part of the investigation report.
More evidence snippets for more decisive review
Since reading articles is extremely time consuming, Merlon provides you with evidence snippets that are sections of article text with key information to understand the subject’s involvement.
Our data shows that more than 90% of all users are able to make a decision solely based on evidence snippets.
Now, you will see up to five evidence snippets so that you can be more confident making decisions on the Finding level with no need to read and understand long lists of articles.
How do evidence snippets work?
First, use the information provided by the evidence snippets to determine if the Finding is related to the subject of your investigation and there is clear evidence of risk.
In such cases, mark the Finding as Relevant. If the evidence snippets do not suggest an unacceptable risk for your organization, dismiss the Finding as No Risk.
If the evidence snippets suggest the Finding is not related to the subject of your investigation, dismiss the Finding as No Match.
If the evidence snippets do not contain enough information or additional context is needed, click on the snippet to go directly to the section of the article where it occurs and read the surrounding text.
We hope that you will enjoy these improvements and if you haven’t done so already, sign up for a free trial or contact us via email: firstname.lastname@example.org.