Product Spotlight: Adverse Media Screening

Maximize Precision and Minimize False Positives with Parcha’s AI

At Parcha, we're constantly innovating to address the most pressing challenges faced by fintechs and banks. Today, we're excited to drill down on Adverse Media Screening that uses advanced AI to synthesize millions of online media sources to determine the risk-level of onboarding new clients.

The Problem

Time-Consuming and Error-Prone Adverse Media Checks

While adverse media screening plays a critical role in customer due diligence, it often suffers from inefficiencies and inaccuracies. Manual screening is time-consuming, prone to human error, and can result in numerous false positives that require further investigation. This not only slows down the onboarding process but also increases operational costs and potentially exposes institutions to compliance risks.

Here are the most common issues we’ve heard from out customers with adverse media:

• Too many false positives: For common names there are often hundreds of adverse media articles to review, which are very rarely related to the actual customer being screened.
• Time consuming to read: With multiple articles often related to the same event, it’s hard to quickly determine who the actual perpetrator in an adverse media event is, what happened, and whether it was crime that requires escalation. This can be especially challenging when the article is in a foreign language.
• Lack of data to match to customer: Existing providers don’t provide rich enough data on the adverse media hits to determine if it’s a match to the customer being screened.

The Solution

AI-Driven Adverse Media Screening

Our AI-driven Adverse Media Screening feature leverages advanced artificial intelligence to transform this process. Here's how it works:

1. Comprehensive Source Analysis: Parcha’s AI  reads every article, not just the headlines to determine the who, what, where and why of an adverse media event.
2. Content Evaluation: Parcha evaluates article contents against a list of predefined adverse media topics so only the most relevant hits are reviewed.
3. Customizable Search Parameters: Tailor your screening to your risk profile with specific keywords and topics.
4. Global breadth: Parcha evaluates media across 240 countries and territories in 65+ languages.
5. Multilingual Summaries: Receive concise summaries of each adverse media hit, even if the original content isn't in English, ensuring you don't miss critical information due to language barriers.

Key Benefits:

1. Reduced False Positives: Parcha’s Adverse Media tooling significantly reduces false positives, allowing your team to focus on genuine risks.
2. Time Efficiency: Automate the time-consuming process of manually reviewing countless articles and reports.
3. Enhanced Accuracy: AI-driven analysis ensures consistent and thorough screening across all sources.
4. Global Coverage: Access and analyze adverse media from around the world, regardless of language barriers.
5. Customizable Risk Profiles: Tailor your adverse media screening to your specific risk appetite and regulatory requirements.
6. Comprehensive Audit Trail: Maintain detailed records of all screening activities for compliance and audit purposes.

The Power of AI

In a recent data study using common names, Parcha's AI screening process achieved 100% recall of true positives while eliminating all false positives.

Customization and Integration

We understand that every financial institution has unique needs. That's why we've made this feature highly customizable:

• Define your own list of adverse media topics
• Set specific keyword triggers
• Customize risk thresholds

Plus, our robust API allows for seamless integration into your existing onboarding and risk assessment workflows.

Looking Ahead

AI-Driven Compliance is still in its earliest days of development. Our team will continue to invest in advanced Adverse Media Screening capabilities using next generation machine learning models.

Ready to accelerate your compliance processes?

Reach out to our team at founders@parcha.ai to see how AI-Driven Adverse Media Screening can work for your business.

At Parcha, we're not just building features; we're crafting solutions that drive real business impact. We can't wait to see how you'll use this to accelerate your onboarding, enhance your risk assessment, and protect your business from reputational and compliance risks.