"GenAI Powered Customer Due Diligence."
Diligent helps fintech risk and AML compliance teams automate and strengthen customer due diligence with Generative AI.
Founded by Edoardo Maschio and Ahmed Gaber
THE PROBLEM:
Fraud and Anti Money Laundering (AML) controls are key parts of the fintech and banking industry but generate significant back office workload. It's 2024, and most of the work still involves human analysts running repetitive tasks which are costly, error-prone, and take time away from real investigations that can move the needle for fincrime prevention and require expertise.
These manual tasks can include things like…
• checking online presence to verify the legitimacy and nature of the business of a customer
• reviewing documents like registry extracts, proofs of address, and bank statements to comply with onboarding requirements
• sitting through thousands of false positive alerts from AML systems
THE SOLUTION:
Diligent builds AI assistants designed to automate routine tasks, slashing cost-to-comply, strengthening risk detection, and freeing up capacity for investigations that require human expertise and decision-making.
The platform's AI assistants follow your workflow policies, integrate with existing systems and output risk intelligence or reports with a clear audit trail.
Diligent has built 3 AI assistant archetypes
- ⚠️ Risk assistant: Investigates holistically the risk and nature of business of customers and transaction counterparties. E.g. is the legal information declared verified? what does this company actually do? do website and address look suspicious? what's the online reputation on socials, reviews etc?
- 🔍 Screening assistant: Investigates automatically alerts from screening systems and slashes time spent remediating false positives on Sanctions/PEP/Adverse Media
- 📝 KYB assistant: Verifies business information and instantly validates customer uploaded documents (register extract, proof of address, bank statements etc.) according to custom acceptance policy to remove back-office verification work and avoid customer friction
Here is a quick demo on how they can work together to conduct due diligence on a legal entity by investigating its legitimacy online, checking documentation, and reviewing alerts for Sanctions/PEP/Adverse Media against it.
