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i/Lytics Compliance Analyzer Service |
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The i/Lytics Compliance Analyzer Service(sm) provides critical information on the accuracy, reliability and overall performance of an organization’s compliance solution. It evaluates the quality of the customer information and identifies problem areas that increase the
risk of non-conformance with government-imposed anti-terrorism or anti-money laundering mandates. |
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The i/Lytics Compliance Analyzer Service provides compliance executives who are planning, evaluating, or building compliance solutions a valuable tool for preventing failures related to
data integration challenges, poor data quality and insufficient
matching capabilities. |
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Audits Existing Solutions
The solution’s detailed, unbiased findings can also be used to audit the effectiveness of an existing in-house or third-party watch list solution, benchmarking its performance against accepted independent data quality and matching standards. |
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Identifies Data Errors that Can Impair Processing
Central to the success of any effort to accurately screen customers or verify their identities is the quality — or lack thereof — of the organization’s data that is being used for that purpose. Errors within the source data can severely cripple even the most sophisticated compliance software solution, putting the organization at significant risk. |
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Using sophisticated diagnostic software and an experienced analysis team, the Compliance Analyzer Service identifies, quantifies and illustrates faulty data conditions in up to five critical data-related areas: |
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Name Structure/Content – checks for reasonableness of name spelling and the presence of clutter that could negatively impact interdictive matching software used to compare this customer information against the required terrorist or sanctions lists |
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Address Errors – checks for completeness and standardization discrepancies that could significantly impair the use of address data for interdictive matching |
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Customer Identification – checks for errors in customer typing (individual vs. organization; male vs. female, etc.); verifies that name-based searches will yield accurate suspect results; and evaluates critical components for Customer Information Program (CIP) or Know Your Customer (KYC) processing, including account status and classification |
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Duplication – identifies customer records that appear more than once within or across varying sources. (Duplicates within customer sources can provide uneven — or even missed — suspect investigations and directly increase the cost of CIP/KYC solutions) |
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Customer/Product Synchronization (optional) — checks that legacy product data (from which customer information is derived) and customer data are in synch, and validates proper customer relationships |
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Provides Roadmap For Success
Compliance Analyzer Service deliverables include in-depth statistical summaries, a library of comparative industry benchmarks, and detailed analysis reports that provide an actionable plan to address the organization’s data quality weaknesses. |
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