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Pelican deploys AI solution to address money laundering

Tuesday 2 May 2017 00:12 CET | News

Pelican has introduced Trade Based Money Laundering (TBML), an artificial intelligence-based solution, created to provide security for international trade.

The TBML detection solution is able to scrutinise, contextualise, understand and compare structured and unstructured data elements along the trade chain, providing provides end-to-end security and compliance.

Through the incorporation of both natural language processing (NLP) and machine learning (ML) AI disciplines, the Pelican TBML Detection solution can identify irregularities indicative of attempted trade based money laundering. The Pelican solution incorporates data inconsistency analysis, vessel screening, third party scanning, regulatory reporting, and complete transaction workflow monitoring.

The Pelican TBML Detection solution is available as a stand-alone service, or as a modular part of the overall PelicanSecure suite that includes integrated and advanced fraud, AML and sanctions screening services. All PelicanSecure solutions can be deployed on premise or provided as a secure cloud service.

Pelican is a global provider of payments and compliance solutions for banks and corporates seeking to consolidate and secure the payments lifecycle.


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Keywords: anti-money laundering, artificial intelligence, machine learning, fraud detection, security, Pelican, product launch, Trade Based Money Laundering
Categories: Fraud & Financial Crime
Companies:
Countries: World
This article is part of category

Fraud & Financial Crime






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