MinervaAI – Making AML compliance work better and cost less

Money laundering is a multi-trillion dollar industry and bad guys are using state-of-the-art technology to victimize people and defraud businesses. Detection and investigation techniques used to fight these crimes are more than 20 years old. MinervaAI provides 21st century technology to financial crime fighters. AML Compliance is more than just KYC. Understanding your obligation to identify Politically Exposed Persons (PEPs) and to effectively risk rate them is a key priority to detect and prevent financial crime. MinervaAI changes all of that. With access to billions of pieces of data in every search, coupled with AI deep learning through natural language processing and the power of inference, can accurately identify PEPs in seconds – decreasing costs and reducing your risk exposure.

MinervaAI was designed and developed by former Anti-Money Laundering executives and powered by an experienced academic in the field of deep learning and Artificial Intelligence. MinervaAI weaves together regulatory and operational expertise with cutting edge technology.  Its mission is to put bad money out of business. The firm will transform the practice of financial crime risk management from an ‘after the fact’ exercise to real-time risk assessment, with rich, relevant data, and predictive risk intelligence in a responsive construct.

Q. Why MinervaAI?

Deep learning: Deep learning acquires and assesses 4.5 billion data points for context, sentiment and risk in seconds, no more Google searches.

Relevant Data: Accurate, relevant and high- quality data accessed in real-time, every time, nothing stored, stashed or cached.

Context-Driven: Context- driven searches decrease false positives and increase operational efficiency, move beyond keyword and name matching.

Reduce Costs: Reduce compliance costs by increasing productivity, shelving point solutions and eliminating manual interventions.

Private and Secure: Private and secure with privacy- preserving technology built-in to the platform.

No Time Wasted: Waste no time getting set up with zero-day UI implementation or simple API integration.

Financial Crime Risk Assessment Platform

Network Identification & Visualization: Know your customer and the company they keep with automated network visualization. See relationships instantly and build on them using their dynamic search feature. Visualize clearly defined networks to differentiate what’s important for deeper review. Having better data that’s easier to understand helps you make better decisions and keep better customers – that’s better for your business. Understand the context and sentiment of news and mentions with quantified risk analysis and dramatically fewer false positives. Use a single search to understand a client’s full AML risk profile; Sanctions, PEP, adverse media, social media, legal and criminal, links and relationships, beneficial ownership and thousands more of open-source data.

Focus your effort on the riskiest areas first with our configurable analytics dashboard. Know when your risk changes – immediately – so you can focus on the right priorities, right away. Zero-day intuitive UI or plug-and-play API gets you up and running in a snap. Start screening today, no coding as MinervaAI promise. Anonymous and secure, they have got your privacy needs covered. There is no room for error when it comes to sanctions checking. Their lists are refreshed, at a minimum, every 24 hours. Trigger re-scans of your client book of record at predetermined intervals and/or when Sanctions change. Conduct identity resolution using billions of open-source data points, identify ultimate beneficial ownership, networks and review predicted relationships and associated risks.

How to strengthen your beneficial ownership program

Capturing beneficial ownership information isn’t easy, but it’s necessary to protect your organization from risk – and it’s a mandatory requirement. In the absence of effective registries and differing legislation, ensuring that policies and procedures outline methods for the identification and verification of beneficial owners is just the start. Taking the necessary steps to screen for PEP and sanctions exposure, along with identifying other risks through adverse media analysis or criminal and legal activity, at onboarding and through ongoing monitoring, allows you to understand the context of your customer and the risk they pose to your ecosystem.

While registries are a start, they only give you a single piece of the puzzle. Ensuring your compliance team has training on how to identify corporate structures and how to peel back the layers of more complex entities is essential. Equipping them with an easy to use compliance platform like MinervaAI to pull together contextual information – in seconds, is a must.

MinervaAI's proprietary AI models change the game

MinervaAI has developed proprietary AI algorithms that make sense of over 4.5 billion pieces of data assessed at every search. Using natural language processing (NLP) and neural networks to ensure profile matching accuracy, MinervaAI analyzes business registries, commercial registries, industry journals, websites, investigative leaks, criminal databases, PEP & sanctions lists in addition to over 200K news sources in 147 languages to create a view of ownership and assesses risk in seconds.

Jennifer Arnold | CEO & Co-Founder

Jennifer Arnold is our resident regulatory nerd and all around financial crime enthusiast. Her leadership roles in financial crime and compliance teams at Bank of Montreal, CIBC and Wells Fargo Canada were the inspiration for MinervaAI.

“MinervaAI significantly reduces manual work and helps you identify owners and their links along with critical risks, so you can have peace of mind knowing that you're covering your requirements while improving customer experience.”