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Life Story Analytics for AML

AML investigation teams grow each year, but they often don’t have the context to make quick decisions. Over 95% of alerts are legitimate customer activities generated by genuine life stories and falsely flagged as suspicious, but they take weeks or months to resolve. 

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Explains 80% of alerts

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Cut triage time for alerts by 90%

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Obtain clear evidence and explainability

Benefits

Benefits

  • Explain 80% of alerts

  • Cut triage time for alerts by 90%

  • Reduce caseload and strain for AML teams

  • Obtain clear evidence and explainability for regulators

  • Improve your risk management posture by removing bias, inconsistency

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How Life Story Analytics Works

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Refine’s AI-powered database is trained on millions of records to create a baseline of genuine financial behavior

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Each anomaly flagged by your transaction monitoring solution is mapped against that baseline to identify the life story that explains the transaction

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The AI draws on open-source data, third-party checks, and the user’s account history for strong evidence that separates fully explainable, legitimate activities which was falsely flagged as suspicious, from truly anomalous activity 

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