Actimize has expanded its IBM partnership, embedding IBM technology in its risk management platform to further help financial institutions monitor and investigate financial crimes. The company has implemented and embedded IBM’s InfoSphere Global Name Recognition (GNR) technology within its enterprise risk management platform in an effort to enhance its analytical capabilities.
The IBM technology is designed to help Actimize’s sophisticated analytical models focus more closely on the names of different customers, citizens, criminals and other individuals by examining and comparing them to different known names of good and bad entities. It works by analysing name order, multiple titles or prefixes, cultural spelling variations, possible transposition errors and nicknames. Once the solution identifies a match, the transaction is either routed as approved or blocked, with an alert forwarded to the most relevant investigator for further action.
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