Solutions: Justice

Name:ID™

IMT Name:ID™ is a list screening solution for users of IBM MDM and Identity Insight that greatly enhances watchlist screening compliance regulations using IBMs world class & industry leading Global Name Management software.

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small red arrow“Investment in analytical tools and automation can reduce compliance-error rates measured through sample-based testing from more than 30 percent to less than 5 percent.”

— MCKINSEY

Enhanced Name
Screening

IMT Name:ID™ is an enhanced name screening solution that leverages name scoring and searching technology used by the US Government as the gold standard. Our process ensures a reduction in false negatives as well as providing a highly configurable filtering and alerting component that ensures fewer false positives.

Name:ID uses IBM’s world class Global Name Management software to create a fully integrated, enhanced name screening solution for users of IBM Identity Insight or IBM Master Data Management software.

Benefits of Enhanced Name Screening

small red arrow COMPLIANCE Maintain regulatory compliance with Anti-Money Laundering and Know Your Customer obligations
small red arrow ENFORCEMENT Greatly reduce your false-negative identification rates to reduce your risks and lower operational compliance costs
small red arrow CLIENT SERVICE No one likes to be the victim of a false-positive. Enhance your client service by reducing inadvertent wrong-client identifications

Case Study

Managing KYC Compliance with IMT Name:ID™

Learn about IMT's latest solution for Enhanced Name Screening.

Read the case study >>

Name Screening Challenges

Stricter regulatory compliance requirements and possible sanctions enforcement are driving more and more organizations to pay more attention to who they are doing business with. Name screening against Corporate Registries/Sanctions Lists and Politically Exposed Person (PEP) lists is necessary to maintain regulatory compliance with anti-money laundering (AML)/Know Your Customer (KYC) obligations. Existing watchlist databases and services allow organizations to ensure that they are not doing business with a person or organization that may be somehow compromised. The problems with these subscription based sanction lists are twofold; one, the number of false positives where a person is incorrectly placed on a list causing hardship to this person, and two, the inability to effectively resolve (or relate) an identity to the list due to poor data and/or matching and resolution capabilities. The first is simply a function of how to compare and score names. In an earlier blog, we emphasized how difficult it is to do name matching as global commerce, multiculturalism and migration increase the complexity in simple name matching. The second is related to how you resolve identities in your data as part of the process so that more information can be used in determining high quality matches against a sanction list.

IMT Name:ID Features and Benefits

IMT’s Enhanced Name Screening solution offers enhanced due diligence allowing you to comply with domestic and international Anti-Money Laundering (AML), Counter Terrorist Finance (CTF), Politically Exposed Person (PEP), and sanctions enforcement regulations.
small red arrow ACCURACY Name:ID leverages all incoming data as well as derived attributes from the matching algorithm to greatly improve score fidelity and reduce false positives and negatives
small red arrow FLEXIBILITY Name:ID can be used by any business unit with the ability to combine or check multiple lists. List Specific alerts can be generated to take better actions
small red arrow INTEGRATION Name:ID is fully integrated with IBM Identity Insight and IBM InfoSphere MDM, enabling you to have a sustainable and cost-effective solution for ongoing compliance
expert-partner
WORLD CLASS GLOBAL NAME MANAGEMENT A key underlying technology within Name:ID is IBM’s world class Global Name Management an industry leader in name scoring and searching technology (used by the US Government as the gold standard) that ensures a great reduction in false negatives as well as a highly configurable filtering and alerting component that ensures fewer false positives For more information contact Peter@infomagnetics.com
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OUR EXPERTS
Peter Huber

Peter Huber, Practice Lead - Justice, Threat & Fraud

If you would like to know more about our IMT solutions, please contact me at: Peter@infomagnetics.com