It is currently difficult, expensive, and time-consuming for organisations to gather meaningful and relevant information on individuals and organisations they do business with. Existing risk & compliance tools rely on data sets and cover things like ID Verification, Peps, Sanctions & Watchlist checks, all of which are helpful for tick-box compliance, but don’t actually give you any answers to the more nuanced question of “should I do business with this person”.
For that you would traditionally have a choice: either rely on manual research using keyword strings on internet search engines (in house or outsourced) which costs significant time & money, or bear the risk of working with someone without knowing much about them.
With Xapien you don’t have to choose.
Xapien automates the manual research process by researching across the entire indexed internet, and delivering a concise, comprehensive report - just like a human would but at incredible speed. So you can check AML risks and get a nuanced understanding of a counterpart’s holistic online profile in minutes, not days.
Law firms and general counsels use Xapien to massively reduce background research time & costs in the below areas
• Client Intake (reduced from days to minutes)
• Litigation – counterparty resaerch can now be done on every stakeholder, not just a select few
• M&A – jumpstart due diligence using Xapien for IDD
• Any corporate law matter requiring third party reserach – Xapien delivers in minutes what it would take a human researcher hours or days to produce
Loading...