Blog > A Single View on Client Risk – Transforming Adverse Media Screening

21st July 2021

A Single View on Client Risk – Transforming Adverse Media Screening

One of my favourite quotes from Joseph Heller’s Catch 22 is “Just because you’re paranoid doesn’t mean they aren’t after you.” 

In the modern world, reputation is everything. Sophisticated CROs and compliance leaders at banks and large enterprises are supremely conscious of the multitude of client and counterparty risks that they face and the value of being proactive. 

Within the framework of a comprehensive risk management strategy that means it is critical to review new and existing clients as well as companies in the supply chain and other vendors with well-executed adverse media (aka negative news) and watchlist checks. 

I’m delighted to announce a game-changing innovation in the way that Ripjar’s Labyrinth Screening software helps address the challenge. Our Entity profiles organise and present data in a way which massively improves analyst efficiency and further enhances the ability for organisations to rapidly understand their risks. 

Using powerful automated entity resolution, enhanced with machine learning and natural language processing (NLP), our new profile software is able to distinguish between millions of individuals and companies that feature in news and other media. Rather than matching your customer records to articles, we’re matching them to fully formed profiles.

As our systems continuously receive and read unstructured media articles from multiple sources at our data analytics hub, we mine the data to fully understand what risks are contained. Our algorithms read and parse data in 19 different languages to uncover not only the type of risk but also the severity and level of involvement. Using that data we collate and rank which are the most pertinent data points for any given profile.

The result for analysts is a massive step forward. When they review their clients and prospects who feature heavily in the news they no longer have to sift through mountains  of articles to fully understand potential risks. Instead, they can quickly review just the most meaningful articles. And for clients and prospects who share a name with others, the transformation is even more substantial. Analysts can quickly zero in on just the right profile and only spend time reviewing truly pertinent news.

Profiles go even further. Alongside media articles, profiles show relevant watchlist matches and other pertinent data – date of birth, nationality, gender, aliases, relationships, and when the person or company first and last appeared in the media – which further helps analysts match profiles to their clients.

Entity profiles provide a step-change in the way organisations can leverage structured and unstructured data to understand risks. We’ve delighted to be able to enable customers to realise the power of profiles and look forward to bringing you further announcements about innovations to profiles as well as our data processing capabilities in upcoming months. 

Please contact me if you’d like to arrange a demo or talk to us about how Ripjar can help you supercharge data to fight crime and protect your business.

Gabriel Hopkins, Chief Product Officer

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