Socure, the leading provider of artificial intelligence (AI) for digital identity verification, compliance, and fraud prevention, announced the launch of the company’s first AI-powered assistant for its Global Watchlist Screening and Monitoring solution. This industry-first AI-driven assistant transforms watchlist screening by drastically improving how organizations handle sanctions, politically exposed persons (PEP), and adverse media matches. Socure’s solution delivers unmatched speed, accuracy, and efficiency by reducing false positives, accelerating case reviews, and improving analyst decision-making.

Traditional watchlist screening is often plagued by inefficiencies that strain compliance teams—high false positives, time-consuming manual reviews, and regulatory complexity. Financial institutions, fintechs, and global organizations face mounting pressure to comply with rapidly evolving restrictions from agencies like OFAC, with penalties for non-compliance exceeding $8 billion globally over the past two years.

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A Smarter, More Efficient Approach to Watchlist Screening

Socure’s Global Watchlist Screening and Monitoring solution introduces a patent-pending, two-stage scoring system providing dual controls. The first stage assigns a Name Match Score, creating a candidate pool by assessing how closely a customer’s name aligns with watchlist entries. This is then enriched with additional personally identifiable information (PII) for a clearer risk assessment.

In the second stage, an Entity Correlation Score replicates an analyst’s decision-making process, evaluating the likelihood that the source list and the matched entity are the same. This critical step strengthens regulatory compliance by minimizing false positives and negatives, significantly reducing the need for manual reviews, and streamlines compliance.

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For each match, the AI Copilot transforms operational workflows by creating consistency in process, reducing human subjectivity, and ensuring standardized documentation. By clearly articulating disqualification criteria in plain language, the AI Copilot removes the burden on analysts to manually craft decision narratives, instead delivering clear, structured explanations. Analysts remain in control to confirm or override results, with all actions logged for transparency and compliance.

Additional Features in the Solution Include:

  • Real-Time Analysis – Instantly processes potential matches in just two seconds.
  • Contextual Understanding –Powered by Natural Language Reasoning (NLR), the AI Copilot recognizes multiple aliases, contextual identifiers, and cultural variations, reducing false positives
  • Streamlined Decision-Making – Accepts or rejects matches using AI-supported reasoning, with the ability to add investigative notes quickly. 
  • Regulator-Ready Documentation – Generates audit-ready reports in an intuitive, streamlined interface. 

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Source – prnewswire