Remediation - Alert Override
By listening to our clients customers and acting on their feedback, we’re always striving to build better products and deliver better services than otherwise would have been able to. Recognising the challenges of identifying and clearing obvious false positives within a Sanctions/PEP screening process, a number of our clients also pointed out their ‘persistent need’ to research and resolve more ambiguous alerts as well as escalating alerts that warrant further internal investigation. As a part of their broader customer onboarding strategy, our clients often use a number of different services within a ‘bundle’; such a bundle consisting of, for example, a UK eKYC check, a financial risk assessment (Sanctions/PEP etc) and well as some other ancillary services.
Earlier this week and in direct response to the ‘Voice of the Customer’, we deployed the first piece of an 'Alerts Remediation' enhancement to our platform; the new 'Audit Trail' component. The enablement of this new optional feature is available to all clients at no additional charge and will improve the due diligence process by offering the ability to fully remediate alerts; all remediation actions being detailed within the supporting and easily accessible audit trail. The client feature requests captured the need to allow alerts that has been raised for PEP/Sanctions check within a bundle to be set as false positive, affording the option to change the status of an individual that may have initially failed the eKYC process to be upgraded to a pass once the remediation has taken place. While a Sanction/PEP list match can be marked as a false positive, where multiple matches have been identified - each match can be marked as a false positive individually or as a bulk action.
This enhancement offers a number of additional and clear benefits to our Sanctions/PEP clients:
- Lessen the time taken to remediate alerts
- Outline what remediation actions have been taken, and by whom
- Streamline the alert management process more generally
- Allow ONLY designated Users make remediation changes
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