Reducing the Risks and Costs of Regulatory Compliance

STRATEGIC PARTNERS

Mizen has scanned the marketplace and developed strategic alliances with other innovative and exciting firms that also offer unique and innovative solutions to compliance. Please contact us for further technical information on any of these solutions and how they might be useful in supporting your needs in the technological, IT, AML or research spheres.

Fico Tonbeller – Financial Crime
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FICO TONBELLER® offers a comprehensive modular set of solutions to fight money-laundering, fraud and terrorist financing, and to fulfill requirements for Governance, Risk and Compliance in the optimal way. As part of the Siron® Anti-Financial Crime Suite the AML and KYC modules are the most widely used solutions in the world, with over 1,000 installations in over 100 countries.  Siron solutions follow the risk-based approach and support all phases of the compliance process.  These span specific risk analysis and continual risk assessment to monitoring of transactions and behavioral patterns.  Additionally, there is central case management with risk and compliance dashboards, and numerous best-practice scenarios gleaned from the large number of customer installations. The software has solution modules, is highly integrated and configurable and provides for a fast roll-out based on the latest compliance requirements. This paves the way to genuine cost efficiency, transparent total cost of ownership and solutions that can grow along with the challenges of customers.

Kyckr – KYC Corporate Validation
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Kyckr (ASX:KYK) is a multi-award winning provider of corporate KYC data and automation services, accelerating corporate customer on-boarding and “lightening the load” of corporate KYC validation and verification of entities, directors, shareholders and ultimate beneficial owners.

Connected to more than 200 registries globally with over 4000 clients in 150+ countries, Kyckr automates capture and maintenance of reliable primary source corporate customer and associated person information.

  • Kyckr provides real-time access to corporate data and statutory filings sourced from legally reliable sources. Mizen then delivers automated information extraction via Optical Character Recognition (OCR) and Natural Language Processing that converts unstructured data to useable structured intelligence.
  • Kyckr’s real-time APIs and on-line services for automated monitoring of global entities and “associated parties” ensures that corporate customer data is always “current, correct and compliant.”
  • Kyckr is easily integrated with existing CRM and CDD processes via web services.  Furthermore, Kyckr automation connects to multiple cloud, utility and blockchain platforms.
Sedicii – Individual KYC Validation and Identification
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Sedicii provides a unique and innovative way to address difficult issues related to:

  • individual authentication and verification and
  • data sharing without violating regulatory obligations.

Sedicii has a unique capability to verify identity data in a pseudonymized and decentralized way with trusted holders of identity and other authoritative sources, without disclosing the information.  Delivered via patented technology based on the Zero Knowledge Proof (ZKP) protocol, Sedicii provides a software platform that allows two parties to prove to one another that they both have the same piece of information, without the need to expose the information each has in its possession or under its control.

AnalytiX DS – A Cost Effective and Robust Data Management Platform

AnalytiX™ DS  – A cost effective and robust data management platform.

One of the core requirements of NY DFS Regulation 504 is the need to certify that governance and management of the data being used for transaction monitoring and sanction detection are fit for that purpose.  A financial institution must have documentation that demonstrates an appropriate level of control and clearly outlines how and what information flows from one system to another.

AnalytiX™ DS provides an agile, unified data management platform designed to govern, accelerate and automate data integration processes,  replacing manual processes with software to be more effective and efficient.

The unified platform offers total governance of the Software Development Life Cycle (SDLC) process with specialized software designed to govern integration projects:

  • functional requirements documentation.
  • source to target data mapping process.
  • maintenance of version control and auditability.
  • standardization as well as accelerated delivery and governance of each phase of the SDLC.
Matrix AML – Accelerator for Model Testing and Validation
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Matrix AML saves users time and money vs. traditional methodologies by identifying optimal thresholds that minimize false positives much earlier in the tuning process.  Traditionally large numbers of alerts are generated, each of which needs to be investigated.  Extensive qualitative investigative efforts by a team are required, and it is necessary to generate a detailed log and audit of behavior before conclusions can be drawn.  And it can be challenging to explain complex statistical analyses to senior management.

Matrix AML offers alternative risk model validation solutions utilizing synthetic data sets that are configurable to mirror the financial institution’s authentic data model.  As a result, white noise can quickly be identified and the process to baseline Suspicious Activity Monitoring (SAM) tuning thresholds is accelerated.  Saving time and money.

Separate data sets can be produced for risk models illustrating a financial institution’s risk scenarios (burst, structuring round dollar etc.) and these sets can be used to baseline SAM tuning thresholds.  Additionally, the effectiveness of sanctions list filtering can be tested and validated.  The various data sets are combined to test and validate final threshold settings.  With no need to justify changes in segmentation, threshold boundaries and other parameters using statistical analysis, as Matrix AML’s tools quantify results and suggest optimal segmentation and threshold boundaries.

Matrix AML can be used in post-implementation and periodic risk model validation as required by FED SR11-7 and DFS §504.3.

DF2020 – Chatbot Author

Complex knowledge and requirements covering regulatory, statutory, and legal matters, retained in document form, are no longer fit for purpose. While necessary, these documents for many resources are difficult to use and easy to misuse.

By using Chatbots to create, share, measure and improve knowledge transfer for transaction monitoring and fraud alerts, firms can provide management and regulators with an audit trail that is measurable and insightful, with no room for ambiguity.

DF2020 particularly delivers a unique chatbot author that enables everyone to create, share and measure their own human-controlled chatbots.