Web-IQ Business is now providing access to its technology to the risk and compliance departments of the financial industry. This technology – IRIS – turns the internet into an effective source of information.

At several moments in your customer life cycle you are required to search relevant information from the open web to enrich your client profile and meet legislation. Thousands of analysts at financial institutions spend their precious time searching the internet in an uninspiring and repetitive way to get open source information on a person or organization.

In this video you will see how Web-IQ´s IRIS will help your organization automate the manual searching on the internet to know your customer (KYC) in order to be compliant to anti-money laundering and CT regulations.

By using the API of IRIS, the online analysis is conducted automatically and in real time by using sources like darkweb, social media, news/media articles and millions of online pages. Within minutes, relevant and actionable information automatically flows into your customer information system or via your external customer lifecycle or compliance solution.

We use advanced text algorithms to:

  • Extract relevant connections;
  • Automatically detect risk indicators;
  • Drastically cut the number of false positives.

As a result, you receive the information in a consistent format, including the audit trail that your system and analysts can easily consume and use to detect risk and fraud.

By using Web-IQ´s solutions, you can:

  • Save up to 80% of your current processing time;
  • Improve the quality of the reviews;
  • Make the work of your compliance analyst worthwhile.

And of course it is compliant with your regulators rules and demands.