Black-List-Matching

The zero-tolerance-policy of the United States regarding non-compliance is also a challenge for factoring companies.

The dynamic development and the increasing number of rules and regulations are forcing financial service provider to implement extensive control mechanisms of their data quality management in order to detect money laundry activities, fundings of terrorism and other illegal activities.

Black-list-matching (the data reconciliation of “black lists” that are listed by government agencies with own customer data) requires an intelligent technology.

fidis has implemented into FACT.pilot a black-list-matching tool of Human Inference and fulfils therefore all non-compliance-demands. The data base of a factoring company will be automatically reconciled with the black lists. Since the black lists are often incomplete and rarely populated with addresses, the black-list-matching tool makes use of an intelligent technique: The software does not only identify patterns, values or key figures, it also considers language conventions, nick names, name contractions and phonetic distinctions.