​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​WL-X: Risk Screening with Precision

If not done effectively, screening can open organizations up to unnecessary risk

Screening requirements are constantly changing, and financial crime programs must grapple with understanding these changes and addressing the latest threats. The bar for regulatory compliance continues to rise, bringing with it increased risk and the potential for fines or reputational damage. Getting it wrong is not an option.   

Organizations must address real-time requirements for party and payment screening against an increasing number of data sources, including sanctions and politically exposed person (PEP) lists. It’s especially important to keep up with changing requirements and data sources when avoiding transactions with government-sanctioned countries, organizations, individuals, vessels, ports and embargoed goods.

High false positive rates across financial services are proof that when it comes to screening, legacy solutions and existing processes are neither efficient nor effective enough to keep up. According to a 2020 Celent report, screening represents over 20 percent of global AML-KYC technology program spend. Are you making the most of your investment?

Screen who you want, how you want, when you want

NICE Actimize WL-X is an AI-powered screening solution that accurately identifies risk from global sources, all while ensuring full regulatory compliance. With always accurate data and always on AI,  we significantly reduce your risk and increase efficacy through precision in matching and detection. WL-X makes challenging tuning processes easier by ensuring that models are always optimized and up-to-date, with real-time analytics offering powerful reports and intuitive dashboards that make tuning and model governance seamless.

Advanced facial biometric technology will take your organization to the next level of accuracy, ensuring certainty where alpha numeric matching often cannot deliver. WL-X expedites the confirmation process of true positives, mitigates data inaccuracies and helps you confidently identify PEPs, criminals, sanctioned individuals and terrorists.

Have challenges accessing the right data? We’ve got you covered

WL-X offers seamless access to an extensive catalog of global data sources, from both premium and free sources, covering a wide range of risks. You have the power and flexibility to choose which real-time, best-of-breed data sources you want to monitor to manage the risks of your specific business needs.

WL-X offers you complete coverage for your party and payment screening needs. With infused AI, next generation analytics and matching engine and access to hundreds of data sources, you can be sure that WL-X will give you highly accurate results with the flexibility to meet your current and future screening requirements. Whatever your screening needs, we have you covered with our advanced, agile and fully compliant screening solution – WL-X. 

Brochure

WL-X: Risk Screening with Precision

Learn more about WL-X here.

REPORT

Transforming Sanctions Screening

Read this new report from Celent and NICE Actimize.