eBook

How Entity-Centric Identity

Resolution Increases the
Effectiveness and
Efficiency of AML-KYC Teams
Use Cases
for Entity Resolution
What exactly is identity
resolution?

Identity Resolution is Key

To Understanding Your
Customers
What exactly is Identity resolution determines who is who and
who is related to whom in data. With identity

Retail Banking:
identity resolution? resolution, financial institutions (FIs) can
create and maintain a consolidated and unique
Deduplicating Entity Data
and Detecting Hidden
Relationships
360-degree view of each party.

Identity resolution helps FIs significantly

Corporate Banking: increase operational effectiveness and
Detecting More Risk Using
External Data efficiency by eliminating duplicate efforts
and uncovering hidden connections. Identity
resolution delivers a more complete, centralized
Correspondent Banking:
Identifying Counterparties understanding of entity risk, resulting in better
Using Payment Message Data
risk mitigation and faster and more efficient
investigations.
Tying it All Together for
Analysts and Investigators –
Identity Resolution Increases
Investigation Efficiency

Tying It All Together In the

Context of the Retail and Financial institutions can enrich their existing
AML-KYC solutions with identity resolution
Corporate Banking Use Cases

Identity Resolution Delivers

Significant Benefits to AML
Organizations

Discover the difference

enterprise-grade Identity
Resolution can make with
NICE Actimize.
What exactly is identity
resolution?

Identity Resolution is Key

To Understanding Your
Customers
Identity Resolution is An entity-centric approach to AML helps
financial institutions better understand their

Retail Banking:
Key To Understanding customers and mitigate their customers'
risks by providing a comprehensive, enriched
Deduplicating Entity Data
and Detecting Hidden
Relationships
Your Customers and accurate view of each entity. Better
understanding leads to more effective and
efficient monitoring, detection and investigation
Corporate Banking:
Detecting More Risk Using across your organization, from KYC/CDD and
External Data screening to transaction monitoring.

Identity resolution plays a key role in cultivating

Correspondent Banking:
Identifying Counterparties a comprehensive understanding of entity risk
Using Payment Message Data and delivers compounded benefits for your

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wider compliance program.

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Tying it All Together for Read on to learn more about how identity

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Analysts and Investigators –

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Identity Resolution Increases resolution can be used in retail, corporate, and

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Investigation Efficiency
correspondent banking to improve AML-KYC

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detection, monitoring, and investigation.

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Tying It All Together In the

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Context of the Retail and
Corporate Banking Use Cases

Identity Resolution Delivers

Significant Benefits to AML
Improved Accuracy
Organizations Effective Outcomes
New Business Insights

Discover the difference

enterprise-grade Identity
Resolution can make with
NICE Actimize.
What exactly is identity
resolution?

Identity Resolution is Key

To Understanding Your
Customers
Retail Banking: Identity resolution matches multiple profiles
for the same customer, within and across

Retail Banking:
Deduplicating Entity systems, and creates a 360-degree, entity-
centric view of each customer and their
Deduplicating Entity Data
and Detecting Hidden
Relationships
Data and Detecting relationships in real time.

Hidden Relationships Using identity resolution, the financial

institution discovered that Gabriela and
Corporate Banking:
Detecting More Risk Using
External Data Carlos are possibly engaged in cash
structuring activity.

Correspondent Banking:
Identifying Counterparties Identities resolved
Relationship found
Using Payment Message Data - Same name
- Shared address
and date of birth

Tying it All Together for Gabriela Sanchez Gabby Sanchez Carlos Rodriguez
Analysts and Investigators – Previous
SAR Filing
Identity Resolution Increases
Investigation Efficiency

Tying It All Together In the

Context of the Retail and Checking Account Credit Card Checking Account
Corporate Banking Use Cases 890321 5221 2342 7898 1221 283763

Identity Resolution Delivers

Significant Benefits to AML RESULT:
Organizations
• Transaction monitoring • Investigation • Suspicious activity
alert generated conducted report (SAR) filed
Discover the difference
enterprise-grade Identity
Resolution can make with
NICE Actimize.
What exactly is identity
resolution?

Identity Resolution is Key

To Understanding Your
Customers
Corporate Banking: Identity resolution, combined with external
data sources, helps banks better understand

Retail Banking:
Detecting More Risk a company’s beneficial owners and corporate
directors, and how they influence the risk profile
Deduplicating Entity Data
and Detecting Hidden
Relationships
Using External Data of corporate customers.

With identity resolution, the financial

Corporate Banking: institution determined that they should review
Detecting More Risk Using
External Data Twist Enterprise’s risk score due to its UBO’s
crypto activity with a high-risk virtual asset
service provider.
Correspondent Banking:
Identifying Counterparties
Using Payment Message Data
Identity resolved with Third-Party Data Hidden relationship
third-party data - Same Intelligence found - Amit is a UBO
name and date of birth of Twist Enterprises

Tying it All Together for

Analysts and Investigators – Fagin Exchange
Identity Resolution Increases Amit Kumar Twist Enterprises
Investigation Efficiency Amit Kumar

Tying It All Together In the

Context of the Retail and
Corporate Banking Use Cases
Transaction Monitoring Current Account Current Account
High-Risk VASP 546543 986542

Identity Resolution Delivers

Significant Benefits to AML
Organizations
RESULT:
• High-risk KYC alert • Enhanced due diligence (EDD) initiated
Discover the difference issued on UBO on Twist Enterprise
enterprise-grade Identity
Resolution can make with
NICE Actimize.
What exactly is identity
resolution?

Identity Resolution is Key

To Understanding Your
Customers
Correspondent Identity resolution helps correspondent
banks quickly identify individuals using

Retail Banking:
Banking: Identifying payment networks to obfuscate their criminal
behavior by providing a better understanding
Deduplicating Entity Data
and Detecting Hidden
Relationships
Counterparties Using of counterparties and assessing the risks

Payment Message associated with payments moving through

their banks.
Data
Corporate Banking:
Detecting More Risk Using
External Data

Originators' Bank Beneficiary’s Similar Name

Correspondent Banking: Respondent Banks Banks and Address
Identifying Counterparties
Using Payment Message Data

S. Supplies Ltd

Identities resolved -
Misspelled name, similar
Tying it All Together for address, and same UBO

Analysts and Investigators –

Identity Resolution Increases
Investigation Efficiency Smith Supplies Ltd
Martin Smith

Identities resolved - Misspelled

Correspondent name, similar address,
Bank and same UBO Same UBO

Tying It All Together In the

Context of the Retail and
Corporate Banking Use Cases Smirh Supplies Ltd

Identity Resolution Delivers

Significant Benefits to AML Identity resolution resolved information extracted from payment messages and discovered
Organizations
a burst in transfer activity to the same corporation. This corporate is ultimately owned and
controlled by Martin.
Discover the difference
enterprise-grade Identity
Resolution can make with
NICE Actimize.
What exactly is identity
resolution?

Identity Resolution is Key

To Understanding Your
Customers
Tying It All Together Identity resolution reduces investigation time
and improves decision quality by providing a

Retail Banking:
for Analysts and more comprehensive entity-centric view of
each entity, their connections, and all related
Deduplicating Entity Data
and Detecting Hidden
Relationships
Investigators–Identity alerts from the start of an investigation.

Resolution Increases
Investigation Efficiency
Corporate Banking:
Detecting More Risk Using
External Data

Correspondent Banking:
Identifying Counterparties
Using Payment Message Data

Tying it All Together for

Analysts and Investigators –
Identity Resolution Increases Identity resolution results in

43% less staff time per

Investigation Efficiency

investigation*
Tying It All Together In the
Context of the Retail and
Corporate Banking Use Cases
Limited Perspective Without
Identity Resolution
Identity Resolution Delivers
Significant Benefits to AML
Organizations
* Fearnley, B., & Marden, M. (2017, August). The Business Value of Entity Resolution Solutions for Financial
Crimes and Compliance Operations. Framingham, MA; International Data Corporation (IDC).
Discover the difference
enterprise-grade Identity
Resolution can make with
NICE Actimize.
What exactly is identity
resolution?

Identity Resolution is Key

To Understanding Your
Customers
Tying It All Together for Analysts
Retail Banking:
and Investigators–Identity
Deduplicating Entity Data
and Detecting Hidden
Relationships
Resolution Increases Investigation
Efficiency
Corporate Banking:
Detecting More Risk Using
External Data

Correspondent Banking:
Identifying Counterparties
Using Payment Message Data

Tying it All Together for

Analysts and Investigators –
Identity Resolution Increases
Investigation Efficiency

Tying It All Together In the

Context of the Retail and
Corporate Banking Use Cases

Identity Resolution Delivers

Significant Benefits to AML
Organizations
Increased
Visibility with
Discover the difference Identity Resolution
enterprise-grade Identity
Resolution can make with
NICE Actimize.
What exactly is identity
resolution?

Identity Resolution is Key

To Understanding Your
Customers
Tying It All Together Retail Banking

Retail Banking:
Deduplicating Entity Data
and Detecting Hidden
Relationships
Corporate Banking:
Detecting More Risk Using
External Data
Correspondent Banking:
Identifying Counterparties
Using Payment Message Data
Tying it All Together for
Analysts and Investigators –
Identity Resolution Increases
Investigation Efficiency
Tying It All Together In the
Context of the Retail and
Corporate Banking Use Cases
Identity Resolution Delivers
Significant Benefits to AML
Organizations
In the Context of the
Retail and Corporate
Banking Use Cases
With identity resolution, analysts
and investigators are able to more
efficiently investigate the retail
and corporate banking use cases
introduced previously.
Gabriela
Identity resolution provides a complete
360-degree view of all activities that
reduces the time required to investigate
suspicious activity.
• A branch had filed a SAR on Gabriela
because she was depositing cash into one
of her accounts in round amounts.
• With identity resolution, the level one
investigator looking into Gabriela’s and
Carlos’s recent cash structuring activity can
see a 360-degree view of all of Gabriela’s
records, including the previous SAR filing, to
quickly understand Gabriela’s risk.
• The ability to see the SAR filing reaffirms the
investigator’s suspicion about Gabriela and
Carlos. The investigator rapidly escalates
the case to a level two investigator,
reducing total investigation time.

Discover the difference

enterprise-grade Identity
Resolution can make with
NICE Actimize.
What exactly is identity
resolution?

Identity Resolution is Key

To Understanding Your
Customers
Tying It All Together Corporate Banking

Retail Banking:
In the Context of the Identity resolution identifies a possible
relationship between a retail customer
Deduplicating Entity Data
and Detecting Hidden
Relationships
Retail and Corporate and the UBO of a corporate account.
The finding results in a change to the
Banking Use Cases corporate’s risk rating.
Corporate Banking:
Detecting More Risk Using
External Data • Using identity resolution, the investigator
assigned the high-risk VASP alert for Amit’s
retail account can see that Amit is also a UBO
Correspondent Banking:
Identifying Counterparties of Twist Enterprises.
Using Payment Message Data
• This discovery prompts the investigator to
initiate a CDD alert on Twist Enterprises.
Tying it All Together for
Analysts and Investigators –
Identity Resolution Increases
• Twist Enterprise’s risk profile is reviewed
Investigation Efficiency months or years ahead of the bank’s periodic
review schedule.
Amit
Tying It All Together In the
Context of the Retail and
• The KYC team mitigates the bank’s risk by
Corporate Banking Use Cases raising Twist Enterprise’s risk rating and
considering a risk exit much sooner than
Identity Resolution Delivers
under the periodic review process.
Significant Benefits to AML
Organizations

Identity resolution increases the effectiveness of financial crime risk management

Discover the difference
enterprise-grade Identity while reducing errors due to inconsistencies and gaps in investigation data
Resolution can make with
NICE Actimize.
What exactly is identity
resolution?

Identity Resolution is Key

To Understanding Your
Customers
Identity Resolution Identity resolution helps organization like
yours obtain an entity-centric view of risk by

Retail Banking:
Delivers Significant deduplicating entity records and identifying
hidden connections between people and
Deduplicating Entity Data
and Detecting Hidden
Relationships
Benefits to AML organizations. With identity resolution,

Organizations you can better evaluate each entity’s risk,

easily uncover hidden risks, and streamline
Corporate Banking:
Detecting More Risk Using operational processes across KYC/CDD,
External Data
screening, transaction monitoring, and case
management.
Correspondent Banking:
Identifying Counterparties
Using Payment Message Data
Identity resolution solutions help
financial institutions achieve:
Tying it All Together for
Analysts and Investigators –
Identity Resolution Increases
Investigation Efficiency
higher higher higher
63% productivity for
FCC teams
81% productivity for
AML teams
59% productivity for
KYC teams
Tying It All Together In the
Context of the Retail and
Corporate Banking Use Cases

Identity Resolution Delivers

Significant Benefits to AML
Organizations

Discover the difference

enterprise-grade Identity
Resolution can make with
NICE Actimize.
What exactly is identity
resolution?

Identity Resolution is Key

To Understanding Your
Customers

Retail Banking:
Deduplicating Entity Data
and Detecting Hidden
Relationships

Corporate Banking:
Discover the difference enterprise-
grade Identity Resolution can make
Detecting More Risk Using
External Data

Correspondent Banking:
Identifying Counterparties
Using Payment Message Data
with NICE Actimize.
Tying it All Together for

Schedule a Demo
Analysts and Investigators –
Identity Resolution Increases
Investigation Efficiency

Tying It All Together In the

Context of the Retail and
Corporate Banking Use Cases

Identity Resolution Delivers About NICE Actimize

Significant Benefits to AML
Organizations NICE Actimize is the largest and broadest provider of financial crime, risk and compliance solutions for regional and global financial institutions, as well as government regulators. Consistently ranked as number one in the space, NICE Actimize
experts apply innovative technology to protect institutions and safeguard consumers and investors assets by identifying financial crime, preventing fraud and providing regulatory compliance. The company provides real-time, cross-channel
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enterprise-grade Identity
Resolution can make with
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