As regulators worldwide are cracking down on anti-money laundering requirements, businesses are adopting more AI solutions than traditional AML methods that lead to alert fatigue and false positives.
Sumsub has developed a full-cycle verification platform that filters out inaccurate alerts, ensuring high-risk fraud cases can be detected and reducing the manual processes of compliance teams. The new suite analyses real-time data patterns and past automated decisions, allowing compliance teams to track fraud patterns.
“Compliance teams face immense pressure to detect financial crime while managing an overwhelming number of alerts. Traditional AML screening can be like searching for a needle in a haystack – compliance teams spend countless hours sifting through false positives to find real risks. Our AI acts like a powerful magnet, helping to filter out irrelevant alerts and strengthen our solution,” explains Vyacheslav Zholudev, co-founder and CTO of Sumsub.
“The AI-powered enhancements and streamlined case management enable compliance officers to focus on what truly matters – stopping real threats efficiently. By minimising false positives and automating reports generation, we’re not only empowering teams with intelligent case management, but also setting a new industry standard for AML compliance.”
The one unified platform centralises investigation workflows, enabling seamless collaboration, task assignments, and real-time updates on transactions.
Compliance teams can instantly generate Suspicious Activity Reports (SARs) or Suspicious Transaction Reports (STRs) based on flagged cases.
Assigning cases, leaving notes, and tracking updates within the case management system ensures compliance officers stay aligned, improving overall efficiency and response times.
Sumsub’s advanced tools ensure secure, compliant, and user-friendly Case Management and AML Screening for regulated businesses across fintech, crypto and other sectors.
