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.

Benefits

Identify legitimate activity through a powerful combination of customer engagement tools and analytics
Explain customer activity using AI-driven benchmarks and third party evidence
Reduce investigation time for AML teams
Improve your risk management posture by removing bias, inconsistency

How Life Story Analytics Works

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

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

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