Lynx AML: Transforming Anti-Money Laundering

Challenge: Global watchlists and sanctions lists frequently update, demanding constant monitoring and manual reconciliation to understand changes and maintain compliance.

Solution: Lynx enables configurable watchlist management:

• Intuitive watchlist filtering: Seamlessly filter watchlists from our intuitive web interface for absolute transparency.
• Tailored Delta List: Generate a customized delta list aligned with your policies and risk tolerance (only available with Lynx Customer Screening or as a standalone module)
• Accurate reconciliation: Gain a comprehensive view of watchlist changes and eliminate manual reconciliations.

Challenge: Given ever-changing watchlists, regional regulatory requirements, and unique risk appetites, FIs need to implement a risk-based AML approach that matches their specific needs and risk profile.

Solution: Lynx empowers you to implement a risk-based AML program:

• Customized rules: Create rules that apply targeted screening techniques, match rates, and watchlists to specific geographies, lines of business, products or customer groups.
• Flexible configuration and unified UI: Simply configure and adjust Lynx’s AML solution to match your policies from our no-code web interface- no developers required. Your IT team and policy stakeholders can tailor and customize watchlists, screening rules, workflows, and templates to your policies, processes, and risk appetite directly from our user interface.

Challenge: FIs need to comply with stringent AML and CTF regulations mandated by the local regulator while managing high customer onboarding and transaction volumes. Legacy AML technologies using only rules-based or fuzzy matching methodologies are rigid and rely on fixed logic. They generate high false positives and create operational strain and alert fatigue.

Solution: Lynx leverages AI to optimize name matching:

• AI-enabled name matching: Move beyond fixed rules. Lynx sophisticated AI algorithms to intelligently adapt to the unique characteristics of each name, applying the optimal combination of NLP algorithms to deliver highly accurate similarity scores.
• Comprehensive name variations and analysis: Lynx utilizes data analysis and advanced NLP algorithms to cleanse, standardize, and enrich watchlist data, widening coverage and generating millions of name variations in over 100 languages before narrowing the search to pinpoint similar names with precision.
• Improved accuracy drives savings: Our name screening engine is highly accurate and significantly reduces false positives to lower your operational and non-compliance costs.

Challenge: Leveraging the power of AI-enhanced name matching is crucial for accurate and compliant AML operations. However, many FIs are hesitant to adopt AI-based solutions due to “black box” concerns about explainability and non-compliance risks including large fines and reputational damage.

Solution: Lynx applies AI to enhance name matching while prioritizing transparency and explainability for compliance:

• AI with guardrails: Our AML solutions are architected to ensure maximum transparency and explainability for your compliance needs.
• Stronger compliance: Performance that matches your risk appetite and compliance needs.

Challenge: FIs need the ability to pull and present targeted data for diverse groups of stakeholders- from auditors and regulators to the C-suite and Board- without unnecessary details and data fields. In addition, they require insights into AML data to understand staff performance and risk trends. Legacy systems tend to fall short, offering inflexible reporting that is rarely real time.

Solution: Lynx provides real-time KPIs to empower informed decision-making:

• Real-time data delivery: Insights are delivered immediately- never wait for a data refresh again.
• Ready to use out of the box: Immediately gain valuable insights with pre-configured dashboards and reporting capabilities.
• Highly configurable: Tailor reports to your specific needs and preferred view, no matter the stakeholder or reporting requirements.
• Identify operational trends and emerging risks: Proactively address operational issues and risks as they arise.

Challenge: Maintaining a clear audit trail is essential for compliance with regulatory requirements. Gone are the days of black box hard-coding: regulators expect you to understand and own what’s being screened and how it’s done.

Solution: Lynx provides fully auditable AML solutions:

• Complete configurability and logging: Modify and track all configurations and rule modifications.
• No “black boxes”: Watchlist scenarios and rules aren’t hard-coded in our solutions: you know exactly what’s in effect at all times. Our Scenarios rule builder ensures configurable and transparent screening.