Minerva Enhances Accessibility of AML Screening in AWS Marketplace
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Minerva Launches Enhanced AML Screening Technology
Minerva, a prominent player in the realm of Anti-Money Laundering (AML) compliance technology, has made strides to improve accessibility for users and businesses by launching its advanced AML screening platform in AWS Marketplace. This innovative approach not only simplifies the onboarding process for financial institutions but also streamlines how these organizations can manage their compliance needs in a rapidly evolving regulatory landscape.
Streamlined Access via AWS Marketplace
With the introduction of Minerva's AML screening and investigations platform on AWS Marketplace, organizations can now find, purchase, and deploy this crucial technology directly through their AWS accounts. The AWS Marketplace serves as a digital hub, showcasing numerous software listings from independent vendors, making it easier to find solutions that run on Amazon Web Services (AWS).
Benefits of Minerva's Platform
The platform's core features include automated sanctions screening and monitoring for Politically Exposed Persons (PEP), adverse media, and Open Source Intelligence (OSINT). By integrating these functionalities, organizations can effectively comply with regulations while ensuring continuous oversight of their risk exposure.
A significant advantage of Minerva's offering is its real-time data capability, which enables the entity matching engine to identify potential risks and onboard customers efficiently. Impressively, this technology can manage up to 85% of new customers automatically, greatly enhancing operational efficiency for compliance teams.
Cost Reduction Through Enhanced Technology
Moreover, Minerva's solutions are designed to cut down on operational costs. The platform minimizes false positives by an impressive 75%, substantially reducing the workload on compliance teams. This efficiency allows organizations to save on AML program expenses, making compliance both practical and affordable.
Strategic Collaboration and Custom Solutions
Jennifer Arnold, co-founder and CEO of Minerva, stated that joining the AWS Marketplace is a significant move for the company. It broadens their audience reach and positions them to directly serve an array of financial service providers, fintech companies, and crypto exchanges. This strategic shift not only reflects customer preferences for marketplace shopping but also offers a solution to manage compliance costs effectively amid rising economic pressures.
In addition, Minerva provides diverse subscription options tailored to meet various business needs. Companies looking for personalized commercial solutions can work closely with Minerva to develop packages that suit their specific requirements, further facilitating a customized approach to compliance.
About Minerva
Minerva stands at the forefront of AI-driven AML compliance solutions, empowering financial institutions to significantly reduce their compliance program costs without sacrificing quality. Unlike traditional providers, Minerva goes beyond mere data collection; it interprets information intelligently. Its AI technology, honed from 5 million investigation decisions, not only reduces false positives dramatically but also automates many labor-intensive manual processes.
Organizations leveraging Minerva’s platforms benefit from enhanced risk assessments, effective automated investigations, and a commitment to maintaining a risk-based compliance strategy. This holistic approach enables clients to operate more effectively, ensuring they remain adaptable to evolving risks in their respective landscapes.
Frequently Asked Questions
What technology did Minerva recently launch?
Minerva launched its advanced AML Screening platform, which is designed to enhance compliance solutions for financial institutions and businesses.
Where can Minerva's AML Screening platform be accessed?
The platform is now available in AWS Marketplace, allowing users to purchase and manage it easily within their AWS accounts.
What are the benefits of using Minerva's platform?
Minerva's platform reduces false positives by up to 75%, cuts compliance costs significantly, and automates onboarding processes for up to 85% of customers.
Who can benefit from Minerva's AML solutions?
Financial service providers, fintech companies, banks, and crypto exchanges can all benefit from Minerva's flexible and robust AML compliance solutions.
Does Minerva offer customized solutions?
Yes, Minerva provides self-service subscription packages as well as private subscriptions for businesses seeking tailored approaches to their compliance needs.
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