dMonitor, a startup integrated Anti Money Laundering (AML) platform comprising data on international sanctions and publicly exposed individuals, announces the launch of an innovative artificial intelligence module for automated screening of open data. This will enable companies to search for information much more rapidly from extensive sources, generating structured results in under a minute, compared to the 7 minutes it would take for manual searches on average.
The launch of the artificial intelligence module marks the successful completion of the project to develop new functionalities for the dMonitor platform, supported by the “Program for the Growth of SMEs in Romania,” with a grant from Iceland, Liechtenstein, and Norway through the EEA Grants 2014-2021. Additionally, dMonitor is expanding through this grant into the Western Balkans region and aims to enter over 20 emerging markets in the near future.
“We are excited to unveil our AI module for AML screening, which represents a significant advancement in the field of data monitoring and analysis,” said Radu Răuță, CEO and founder at dMonitor. “This project underscores our commitment to technological innovation and our dedication to supporting organizations in enhancing their AML efforts.“
Throughout the project, the dMonitor team has been continuously working on the development and implementation of an advanced data monitoring solution designed to support organizations in decision-making processes and performance improvement. Among dMonitor’s clients are banks, financial companies, utilities, and stock traders in Romania. Leveraging state-of-the-art machine learning algorithms and intuitive interfaces, the artificial intelligence module provides precise, real-time information to enable users to interpret and act efficiently on the data.
The artificial intelligence module was officially launched on April 25th during an international online event featuring speakers such as Horia Benga, Advisory Manager at KPMG Romania, discussing the inclusion of the international sanctions regime in compliance programs, and Arben Dedja, AML Senior Officer at BKT – Banka Kombetare Tregetare, sharing effective strategies for AML compliance in the regulatory landscape of Albania.
The event aimed to encourage collaboration and the exchange of ideas among industry professionals, especially from the Western Balkans region. By showcasing key experts in the AML compliance field, dMonitor aimed to learn from their experiences and strengthen its focus on the region.
“We look forward to continuing to further drive innovation and progress in AML compliance,” added Radu Răuță.
About dMonitor
The dMonitor platform, launched in July 2022 by the start-up Process Lab, provides customer knowledge (KYC) solutions that incorporate over 120 sanction lists and the most extensive public exposed persons (PEP) database in Romania through efficient compliance analysis. The platform employs an innovative approach, combining UiPath’s RPA technology with human analysis methods, to ensure accurate and up-to-date analysis of publicly exposed individuals’ information.
- 3rd Place @ InnovX BCR Demo Day 2023
- Excellence in Innovation Award @ Innovation Labs 10-Year Gala
- Best Spin-Off @ Innovation Labs 2022 Final
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