FullCircl Launches New Features to Enhance AML and KYB Compliance

FullCircl Launches New Features to Enhance AML and KYB Compliance

Feature upgrades offer financial institutions advanced Credit and Risk Data, near real-time updates on PEPs & Sanctions, and vital Adverse Media Screening.

London, UK, 7th June 2023: FullCircl, the Customer Lifecycle Intelligence (CLI) platform that helps financially regulated businesses do better business, faster, today announced the launch of new feature enhancements that leverage machine learning and natural language processing (NLP) to further enhance Anti-Money Laundering (AML) and Know Your Business (KYB) compliance.

In an increasingly complex and fast-paced regulatory environment, FullCircl's latest feature releases offer B2B financial institutions a competitive edge in staying ahead of potential risks and ensuring continuous compliance. These advanced features include new Credit and Risk Data, near real-time updates on global Politically Exposed Persons (PEPs), Sanctions watchlists, and advanced Adverse Media screening - all integrated seamlessly via API. Taken together, these enhancements are proven to reduce false positives by up to 70%, whilst also driving significant gains in efficiency.

Commenting on the release, Andrew Yates, Co-Founder and CEO of FullCircl said:

"Compliance is not just about meeting regulatory requirements. It's about actively protecting your business – and your customers – from potential risk and reputational damage.

Our latest features are designed to provide businesses with a best-in-class comprehensive understanding of their risk landscape and equip them with the necessary tools to make informed decisions, whilst delivering efficiencies in the onboarding and continuous customer due diligence process."

With FullCircl's enhanced Credit and Risk Data, companies can:

• Gain a comprehensive understanding of their risk landscape
• Make informed decisions with greater KYB confidence
• Mitigate potential risks and ensure AML compliance effectively.

FullCircl's PEPs & Sanctions offers:

• Thousands of data sources contributing to comprehensive global watchlist screening (OFAC, UN HMT, EU DFAT and more)
• Daily PEP profile updates
• Sanctions updates every 15 minutes.

FullCircl’s Adverse Media screening delivers:

• Near real-time updates, refreshing some 30 million articles.
• The ability to stay ahead of potential threats that could impact reputation and compliance status.
• Adverse Media categories calibrated to FATF and EU Money Laundering Directive (6MLD), for AML taxonomy alignment with latest regulatory guidance.

These enhancements underscore FullCircl’s continued commitment to delivering innovative solutions for businesses with a need to balance regulatory pressure with revenue creation - helping them do better business, faster.

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