Experian launches anti-money laundering scoring software

Source: Experian

Experian, a global information solutions provider, today announced the launch of ASSIST//score, a risk-based scoring system to help financial institutions meet regulatory requirements and improve their investigative productivity.

ASSIST//score is software that combines statistical and rules-based methodologies to identify and manage suspicious activity accurately, quickly and more cost-effectively, requiring fewer resources to deliver greater results. These results and the resources can be managed through ASSIST//score's streamlined reporting capabilities.

"As the incidences of financial crimes increase, compliance officers need to use existing budgets while meeting increasing regulatory and legislative requirements to detect, monitor and report suspicious activity," said Marc Kirshbaum, president of Experian Fraud Solutions. "ASSIST//score is the most comprehensive solution available, enabling financial institutions to better assess risk, measure performance and improve compliance productivity through sophisticated analytics and scoring systems."

ASSIST//score provides compliance officers, compliance auditors and fraud investigators with more control, precision and automation in the detection of suspicious activity. Furthermore, it helps improve audit controls and reporting capabilities in a more cost-effective, flexible and structured manner.

Frank Caruana, director of product management for Experian's anti-money laundering solutions, added, "The availability of ASSIST//score is evidence of Experian's commitment to being the leading provider of advanced fraud and anti-money laundering solutions. The industry now has a more comprehensive and proven risk management solution to effectively and efficiently manage operating risk and meet regulatory requirements, while also growing the bottom-line when it comes to risk management, data security, compliance and analytics."

According to Rafael Moreno, vice president of compliance for Primer Banco del Istmo, S.A., Panama, "Experian's comprehensive AML solutions enable financial institutions, like ours, to not only meet regulatory requirements, but the tools go a step further by making the process simpler and more efficient."

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