Diligent - AI to Catch Risky Businesses

Diligent AI to Catch Risky Businesses

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#due diligence
#AML
#Compliance
#risk management
#KYB
#Fraud Detection

What is Diligent?

Diligent provides AI-powered solutions to automate and enhance customer due diligence for financial institutions. It focuses on improving the efficiency and effectiveness of risk and AML compliance teams. By using Generative AI, it enables investigative reasoning at scale to tackle the challenges of verifying small business legitimacy.

The platform integrates with existing systems to streamline workflows and doesn't require any changes to current KYC/AML procedures. The implemented AI is using Large Language Models ensuring transparency and a complete audit trail.

Features

Web presence: Investigate a business's online footprint, flag involvement in high-risk activities, and identify a bad reputation on reviews or social media.
Networks: Identify connections to high-risk entities, fraud rings or suspicious activities through shared entity details, addresses or people.
Monitoring: Track ongoing changes in business activities, reputation deterioration, or ownership to detect emerging risks.
Risk assistant: Investigate holistically the nature of business of your SMB customers and transaction counterparties - industry classification, address analyses, website reviews and online presence risk signals.
Screening assistant: Investigate automatically alerts from your existing Sanctions/PEP/AdverseMedia systems and slash time spent remediating false positives.
KYB assistant: Verify business information and instantly validate customer uploaded documents (register extract, proof of address etc...) to reduce onboarding friction.

Use Cases

Automating due diligence on business customers.
Strengthening risk assessment for financial institutions.
Remediating false positive alerts from AML systems.
Verifying business information and validating customer-uploaded documents.
Identifying connections to high-risk entities or activities.
Monitoring businesses for emerging risks.

FAQs

What does Diligent offer?

We build AI solutions that enhance your risk and AML compliance teams' capabilities by automating and strengthening customer due diligence controls. Our services are utilized by fintechs and banks to streamline workflows such as conducting risk investigations on legal entities, reviewing customer documents (for example, registry extracts and proofs of address), and remediating false positive alerts from AML systems.
Is Diligent allowed by regulator and safe to use?

Absolutely. Historical AI use cases in the AML world often involved identifying patterns in data and generating hard-to-explain rules in a black box. We are very different. We use a new type of AI and we apply it on different use cases.By using Large Language Models we are able to automate the tedious and time consuming L1 tasks by following your specific workflows and policies and leaving a comprehensive audit trail.
Would I have to change my KYC/AML systems to use this?

No, you wouldn't. Diligent integrates seamlessly with your current systems and vendors. You can use our simple UI or integrate our API into your internal tooling. You'll be up and running in a few days, if not hours!