SEON Enhances Its Platform for Advanced Compliance Solutions
SEON, renowned for its real-time fraud prevention and AML compliance capabilities, recently announced significant updates to its platform. These advancements are tailored to assist businesses in navigating the complex landscape of regulatory compliance across multiple jurisdictions.
Empowering Compliance Teams with Flexibility
As global Anti Money Laundering (AML) regulations become increasingly varied, SEON's updates empower compliance professionals to spin tailored strategies that suit their specific markets. Tamas Kadar, SEON's Co-founder and CEO, emphasized the challenges compliance teams face with fragmented systems. He remarked, "Compliance teams are juggling more jurisdictions and tighter rules. When one tool highlights a risk, the others remain oblivious. Traditional systems often restrict customization, resulting in a generic approach to compliance that can overlook significant threats or over-screen valid customers. Our platform allows teams to adapt their risk management strategies.”
Configurable Screening to Reduce Risk
One of SEON's standout features is the new AML Search Profiles. This innovation enables compliance professionals to create jurisdiction-specific screening configurations without the need for coding skills. Users can effortlessly select data sources, fine-tune matching sensitivity, and implement varied standards tailored to regions or customer segments. This adaptability is particularly beneficial when entering new markets with diverse regulatory requirements, allowing configuration of new profiles in mere minutes, without waiting for development support.
Real-World Success Stories
To illustrate the impact of these tools, Michael Ormiston, Head of Player Protection at Rank Interactive, shared, "At Rank, platform safety and compliance are essential for delivering exceptional player experiences. SEON is a valued partner, providing AML solutions that enhance our investigations with unmatched flexibility. This helps us develop scalable fraud and risk programs that are adaptable to our ever-evolving business needs.”
Advanced Investigative Tools on a Unified Platform
SEON's platform is built on the principles of network science, utilizing graph theory to reveal hidden connections that traditional systems often miss. By mapping shared device identifiers and behavioral patterns, the platform enables investigators to visualize relationships, determining whether they signify legitimate transactions or indicate orchestrated fraud schemes.
Enhanced Transaction Monitoring
The new Movement of Funds feature enhances investigators' capabilities by tracking transaction flows in real-time. This allows users to identify layering schemes and structural patterns across multiple accounts. Rather than examining transactions in isolation, compliance teams can visualize how money flows within networks, aiding in the recognition of money laundering typologies.
Additional Features for Comprehensive Oversight
SEON's recent enhancements include:
- Alert Dashboards: These dashboards provide insights into alert volumes and trends, enabling managers to assess team performance and identify necessary adjustments.
- Payment Screening: This feature screens BIC codes, SWIFT identifiers, and crypto wallet addresses to prevent transactions with high-risk entities.
- Unified Workflow: By integrating screening, investigation, and case management, it eliminates the inefficiencies caused by switching between different tools.
About SEON
SEON stands as a pioneering command center for real-time fraud prevention and AML compliance, collaborating with thousands of businesses worldwide to combat fraud, minimize risks and secure revenues. Leveraging over 900 real-time, first-party data signals, SEON enhances customer profiles, flags suspicious activity, and streamlines compliance procedures. With a global footprint across major cities, SEON continues to revolutionize the way companies approach fraud prevention and compliance.
Frequently Asked Questions
What is SEON's primary focus?
SEON specializes in real-time fraud prevention and AML compliance to help businesses protect their revenue and reduce risks.
How do the new features benefit compliance teams?
The new configurable screening and investigative tools provide enhanced flexibility and precision, allowing teams to adapt to various regulatory environments efficiently.
What occurs when organizations expand into new markets?
SEON's platform enables quick adjustments to screening profiles, accommodating different regulatory expectations without extensive development time.
How does the Movement of Funds feature work?
This feature maps transaction flows, helping to identify patterns indicative of fraudulent activity and enhance overall compliance monitoring.
Where is SEON headquartered?
SEON operates globally, with its headquarters located in major cities including Austin, London, Budapest, and Singapore.
