Newcomer's Guide to the AML Galaxy

Your AML Compliance should not break the bank

AML Compliance should not be so costly. How AI can help.

As your customers demand faster turnaround times, your business needs the best AML compliance process in place. For many small and medium-sized enterprises (SMEs), meeting quality sanction and PEP screening requirements are often unaffordable. SMEs try to get by with disjointed in-house solutions with questionable data quality and screening technology. With the latest requirement by regulators to perform ongoing Adverse Media screening on their customers, this approach won’t do. You need better solutions that don’t require the decision between cost and quality.

The danger of not having a good process in place can land your company and clients at an even higher risk.

Demanding customers

Instant gratification amplifies the customer’s requirements for faster decisions, speedier turnaround times. The online world has made same-day delivery the norm, and businesses select suppliers based on their supporting technology to make their lives easier and the opportunities to serve their end-customers better.

One of the main problems with manual AML compliance checks is the time and inefficiency of clearing false positives that arise from sanction screening. These delays cause unnecessary frustration.

How AI can help

With constant AI development and the introduction of rule-based decision systems and Machine Learning (ML), it’s possible to reduce these flagged queries, speed up screening, and approval times. The compliance databases and records update continuously, thereby making machine learning essential.

AI models learn from previous false positives that are normally manually processed and begin to establish patterns. These patterns become new rules to clear false positives that meet the recognized pattern automatically. The benefit of AI and ML in sanction, PEP, and adverse media screening is obvious, and your return on investment is evident.


Sanction screening software has traditionally been very costly. Many SMEs simply cannot afford quality solutions. With the advent of RegTech, the number of compliance technology solution providers has increased dramatically. Finding high quality solutions that are also highly affordable is no longer a problem. The challenge now is to find solutions that are not only high quality and highly affordable, but also low-friction and autonomous.  For SMEs, a large percent of the AML compliance cost comes from manually having to clear false positives. With AI and ML you reduce the overheads for manual screenings. Sanction, PEP, and Adverse Media screenings are done faster and more cost-effectively. This allows smaller businesses to remain compliant and still offer their customers the best service and experience.

KYC2020 removes the cost and complexity of AML compliance with use of advanced technologies. KYC2020’s DecisionIQ solution uses AI and ML to clear false positives and deliver real-time actionable decisions to speed up customer onboarding.  KYC2020’s Adverse Media Check uses NLP to process and identify persons, PEPs, and entities in relevant negative news. It is no wonder why KYC2020 is recognized as one of the world’s most innovative regulation technology solution providers by RegTech Analyst

To request a free trial or learn more about our solutions, contact us.

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