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Press Release / AML Watcher, An Emerging RegTech Solution, Introduces Biometric Screening for 0% False Positives

AML Watcher, An Emerging RegTech Solution, Introduces Biometric Screening for 0% False Positives

6 min read

Delaware, US – May 8, 2024 – AML Watcher has successfully tackled industry’s most pressing challenge – 'false positives' – with the introduction of AML biometric screening.

AML Watcher is the pioneer in advancing AML screening practices for high-stakes companies. AML Watcher proprietary face dataset with a sophisticated face matching algorithm is the world's first AML solution supporting face biometric search. Users can simply upload an image of a subject and AML Watcher scans the face dataset of watchlists, sanctions lists, and PEPs to find and match the subject’s face. An exact match is displayed if the individual is present in any of the databases, thus lowering the false positive rates to zero.

Compliance officers have to bear a manual workload due to false positives in their screening system. Despite every other provider's claim that their screening system reduces false negatives to near zero percent, the world has yet to witness any substantial benefits and operational efficiency supporting their claims.

However, in the case of AML Watcher’s proprietary biometric AML screening, clients can experience 0% false positives first-hand and leverage benefits with no false negative risks due to linguistic, phonetics, and proximal name-matching variations. Thus, not only do clients now experience less manual workload, but they are also more confident in their decision-making due to the extensivity of the company’s AML coverage.

“We are happy to announce that AML Watcher is making an advancement by introducing biometric screening to empower compliance officers in the fight against financial crimes like money laundering,” said Kristina Zakharchenko, VP of Sales at AML Watcher.

“To counter the major challenges of AML screening, the tool of face biometric screening greatly solves the problem. This tool has revolutionized the conventional AML practices and put an end to the confusion caused by baseless technological claims,” Karim Muhammad, Marketing Manager of AML Watcher.

AML Watcher is also offering a limited offer to straight up reduce your current AML provider’s cost by 50%. Get in touch with us now to avail the offer and experience double the value with half the cost.

About AML Watcher

AML Watcher is a reg-tech solution that offers global coverage of domestic and international regulations. With over 200+ Sanction Regimes, 1300+ watchlists, multi-tier PEP screening, International Leaks database, and corruption indexes, AML Watcher meets diverse screening requirements across 235+ countries. Advanced matching technology enhances accuracy and decision-making. AML Watcher sets industry standards with simplified, user-friendly control across multiple dimensions of AML screening.

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    Published Date

    May 14, 2024

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