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Merlon: Transforming Adverse Media Screening For Faster Remediation

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Greg Pinn, Head of Data Operations & Strategy, MerlonGreg Pinn, Head of Data Operations & Strategy Adverse media screening is a crucial part of Know Your Customer (KYC) and anti-money laundering (AML) processes within financial institutions as it helps analysts and compliance personnel make risk-based decisions. Historically, it has involved the cumbersome task of manually interrogating public and third-party data sources for negative news associated with an individual or a business. Nonetheless, the vast amounts of data generated daily make it difficult for these professionals to make informed decisions about end-customers. Furthermore, the fragmented approach to adverse media screening has led banks and other financial institutions to implement siloed screening processes, resulting in duplicate screenings, increased cost, and reduced focus on higher risk areas. In such a scenario, there is a growing need for a defined and well-structured adverse media screening policy that can help these institutions transform these interrogations into a more value-added and proactive customer risk management process.

Fulfilling this need in the marketplace is Merlon, one of the leading providers of automated adverse media investigations platform for AML, KYC, and due diligence. The company employs natural language processing (NLP) and AI to automate repetitive manual tasks, and in the process, reduce compliance costs and institutional risks. Unlike its peers in the industry, Merlon focuses more on offering solutions to power large datasets to be more relevant while increasing the AML analysts’ productivity and decreasing the risk of exposure for the financial institutions.

“With our AI capabilities, we can help clients identify the perpetrators and the risks associated with them. We combine and group the information from multiple sources to produce intelligent findings that help them make informed decisions for risk mitigation,” states Greg Pinn, the Head of Data Operations and Strategy at Merlon.

Merlon’s solutions have been designed to be extremely easy to use for analysts. It replaces the repetitive, tedious tasks of reading through endless articles with highly-focused NLP and AI, allowing analysts to make decisions around risk mitigation within their organizations. Rather than returning a long list of articles to be read, Merlon provides analysts with integrated findings, clustering articles and extracting personal details, risk information, and evidence. It then identifies articles where that particular individual or business has been a perpetrator aligned with relevant risks with FATF Predicate Offenses, USA Bank Secrecy Act, and the 6th EU Money Laundering Directive.


With our AI capabilities, we can help clients identify the perpetrators and the risks associated with them. We combine and group the information from multiple sources to produce intelligent findings that help them make informed decisions for risk mitigation


In addition to combining similar articles and extracting key evidence, Merlon’s solution removes results that are not relevant to a particular search or do not contain relevant risk.
This can reduce the number of results that financial institutions go through by upwards of 90 to 95 percent. Once the search is completed, the company makes all the articles and texts available in a consolidated form. This provides evidence of whether an individual or business is a perpetrator of risk, thus eliminating the pain-staking task of going through all the collected articles and bridging the gap between structured historical media and unstructured media.

Small to medium businesses, small compliance teams, and large enterprises can implement Merlon’s solutions, either as an on-premise or a SaaS model. The analysts and compliance teams can easily make value-added decisions with a more consistent and effective risk-based approach within minutes. Its extensive media library of over 350 million sources allows clients to perform effective risk mitigation. Merlon’s free trial program can be accessed directly from the company’s website to enable compliance teams to familiarize them with Merlon’s solutions and enable them to start screening their data almost immediately.

With a solution-focused approach, Merlon has significantly revolutionized the adverse media screening space by leveraging AI and NLP to separate relevant and irrelevant articles, understand the context of those, and determine the subject’s involvement in any risk. To enhance its capabilities, the company will be integrating more data into its library and incorporating newer technologies to offer more optimized and trained models in the future. It will also incorporate APIs into custom-built and AML tools to make it easier for clients to conduct adverse media screening and investigation across several platforms. “We will continue to expand our data library by adding more resources to it. We will also bring additional configurability capabilities for clients via the latest, leading-edge technologies,” concludes Pinn.

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Merlon

Company
Merlon

Headquarters
New York

Management
Greg Pinn, Head of Data Operations & Strategy

Description
Merlon, one of the leading providers of automated adverse media investigations platform for AML, KYC, and due diligence. The company employs natural language processing (NLP) and AI to automate repetitive manual tasks, and in the process, reduce compliance costs and institutional risks. Unlike its peers in the industry, Merlon focuses more on offering solutions to power large datasets to be more relevant while increasing the AML analysts’ productivity and decreasing the risk of exposure for the financial institutions. Merlon provides analysts with integrated findings, clustering articles and extracting personal details, risk information, and evidence. It then identifies articles where that particular individual or business has been a perpetrator aligned with relevant risks with FATF Predicate Offenses, USA Bank Secrecy Act, and the 6th EU Money Laundering Directive