Firco Screening Insight – for accounts


Leverage Artificial Intelligence (AI) techniques to optimise your account screening and alert management

Firco Screening Insight – for accounts (formerly SBS SAFE Advanced Solutions Visual Intelligence Platform) is a feature-rich and scalable platform that combines account screening filtering intelligence with high-performance processing and scoring capabilities to improve your screening accuracy and eliminate alert overload. Leveraging AI techniques, Firco Screening insight – for accounts reduces false positives and prioritises alerts by risk severity and enables you to avoid missing high-risk accounts and meet financial crime regulatory requirements with confidence.

Arm your organisation with the visibility required to understand which accounts you should do business with, and more importantly, what high-risk accounts you should avoid.

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Benefits of Firco Screening Insight - for accounts

Uncover and prioritise highly probable alerts with fewer false positives

Using Firco Screening Insight – for accounts you can:

  • Substantially reduce false positives – to single digit alert rates.
  • Elevate operational efficiency– improve alert probability, pinpoint your most relevant alerts and speed account resolution.
  • Improve traceability and transparency – assess and validate your model effectiveness to provide reporting that is regulator-ready.

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Features / functionality

Evolve your alert management process for greater accuracy, advanced risk ranking and regulator explainability

  • Advanced analytics engine – uncover patterns of interaction and non-obvious relationships to expose probable alerts and reduce false positives. Supported by AI techniques, our Strength Index scoring and Exposure Index ranking methodologies (inherent in the solution’s Firco Automated Alert Reduction component) will surface your true and probable matches by severity for a clear view of the most impactful risks. Configured to provide updates every day, your accounts can be rescreened when the data or relationships change.
  • Screening options – detect listed parties in milliseconds with real-time and on-demand Web service and API screening components.
  • Scalability – meet the needs of your growing business with a scalable and extensible architecture.
  • Data analytics and visualisation – view a full audit trail of customer data, reference data, alerts, and user activity to stay up to date on what is happening in your system. Designed for transparency, you’ll have the data analytics, visualisation and dashboard capabilities needed for management and regulatory reporting.
  • Streamlines workflow – manage your operation with highly customisable workflows that provide the flexibility needed for grouping and assigning alerts based on commercial and private list requirements, different lines of business, and across various geographical jurisdictions.
  • List management – centralise all your watchlists, private lists and PEPs and REPs data, marijuana related business lists, and WorldCompliance – Firco enhanced data across 60+ risk categories. Your lists can be managed with continuous and automatic updates that are delivered clean and filter-ready – and will dovetail into your screening workflow to speed alert review.
  • Model Explainability – monitor your model health based on your business rules and business-rule exceptions to ensure ongoing screening effectiveness and regulatory suitability.

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