The cornerstone of a successful anti-money laundering (AML) program is not only thorough and accurate identity verification, but also the context that surrounds an identity and whether this context signals any form of illegal behavior, intent, history or association.

Compliance teams throughout the financial services industry are challenged daily to analyse, extract and validate identities with elevated risk signals with the ultimate goal of preventing financial crimes before they happen. Given the growing volume, velocity and complexity of financial crimes, the task of identity verification and contextual analysis has become increasingly complex and time-consuming.

However, with advances in data and machine learning, ComplyAdvantage has optimised this laborious and lengthy process making it fast, accurate and free. With ComplyTry, anyone has the ability to search, verify and assess the context that surrounds identities using the company’s real-time database of sanctions, watchlists, PEPs and adverse media.

Simply input the details of your customer, select the data sources you want to screen against and search. Each result will be represented by a card. Once clicked, the card reveals the full body of the profile with all relevant information included.

The benefits of ComplyTry are numerous, including:
- the ability to conduct smarter research with matches found by existing screening providers
- leveraging AI-driven negative news insights that you won’t find in search engines, and which are aligned to the latest Financial Action Task Force (FATF) and EU AMLD recommendations
- speeding up onboarding times with live dynamic data and insights so businesses can scale with the utmost in integrity

“We decided to offer ComplyTry after having an incredible response to our ComplyLaunch program which offers free access to AML and KYC tools for startups,” said Kanisha Patel, Head of ComplyLaunch at ComplyAdvantage. “And like ComplyLaunch, our goal is to continue to democratize access to vital AML tools and information to better prepare startups and to help fortify our ecosystem against the threat of financial crimes. By making these sorts of programs and tools accessible, everyone benefits.”