Sumsub's AI-Driven AML Screening Enhancements

Sumsub, a full-cycle verification platform, has introduced the latest innovations in case management and AI-driven AML screening to help compliance teams improve efficiency, reduce manual work, and tackle the growing challenge of false positive matches.

This new suite of features ensures faster case resolution, seamless team collaboration, and more accurate risk detection.

AML screening methods

Regulators worldwide are tightening anti-money laundering (AML) compliance requirements, making it crucial for businesses to adopt automated, AI-powered solutions. 

Traditional AML screening methods often lead to alert fatigue, where compliance teams spend excessive time reviewing false positives.

Sumsub’s solution

Sumsub’s AI analyzes patterns in data, understanding context, and learning from past decisions

Sumsub’s solution solves this challenge by leveraging AI to filter out irrelevant alerts, ensuring teams prioritize high-risk cases without sacrificing accuracy. 

Sumsub’s AI analyzes patterns in data, understanding context, and learning from past decisions to differentiate between genuine risks and irrelevant alerts.

Irrelevant alerts and solution

“Compliance teams face immense pressure to detect financial crime while managing an overwhelming number of alerts. Traditional AML screening can be like searching for a needle in a haystack – compliance teams spend countless hours sifting through false positives to find real risks."

"Our AI acts like a powerful magnet, helping to filter out irrelevant alerts and strengthen our solution," explains Vyacheslav Zholudev, co-founder and CTO of Sumsub. 

AI-powered enhancements

Zholudev added: “The AI-powered enhancements and streamlined case management enable compliance officers to focus on what truly matters – stopping real threats efficiently."

"By minimizing false positives and automating reports generation, we’re not only empowering teams with intelligent case management, but also setting a new industry standard for AML compliance.” 

Key benefits of the upgraded AML Screening solution

• AI-Enhanced False Positive Reduction: Sumsub’s advanced AI algorithms significantly reduce the rate of false positives, allowing compliance teams to focus on real threats rather than spending hours sifting through irrelevant alerts.
• Smart Case Management: The upgraded case management system centralizes investigation workflows, enabling seamless collaboration, task assignments, and real-time updates—all in one unified platform.
• Automated SAR/STR Report Generation: Compliance teams can instantly generate Suspicious Activity Reports (SARs) or Suspicious Transaction Reports (STRs) based on flagged cases, reducing manual effort and ensuring regulatory compliance.
• Real-Time Transaction Monitoring & Analytics: A comprehensive dashboard provides real-time insights into transactions, allowing teams to track fraud patterns and make data-driven decisions with ease.
• Seamless Cross-Team Collaboration: Assigning cases, leaving notes, and tracking updates within the case management system ensures compliance officers stay aligned, improving overall efficiency and response times.

Case Management and AML Screening

Overall, Sumsub’s enhanced features are designed to help firms overcome regulatory challenges by streamlining their compliance workflows. 

As technology developments and legal requirements become increasingly more complex, Sumsub’s advanced tools ensure secure, compliant, and user-friendly Case Management and AML Screening for regulated businesses across fintech, crypto and other sectors.