Diligent is an AI tool designed to assist fraud and Anti-Money Laundering (AML) teams automate and enhance their due diligence customer controls. Specifically developed for the fintech industry, Diligent optimizes workflows such as performing risk investigations on legal entities, reviewing customer documents such as registry extracts and proof of addresses and reducing false positive alerts generated from AML systems.
The tool is powered by large language models which can automate redundant level one tasks while adhering to specific workflows and policies, ensuring a comprehensive audit trail.
Another significant feature is the capability of the tool to integrate seamlessly into the existing systems and vendors, implying no need for disruptive changes to current AML/KYC systems.
Diligent offers a user-friendly interface and the option to integrate an API into internal tools for customized use. The tool is designed with the mission to reduce time and costs associated with complying with risk and AML compliance operations, enhancing risk assessment capabilities and minimizing customer onboarding friction.
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Pros & Cons
Designed for fintech industry
Optimizes AML workflows
Enhances risk assessments
Reduces false positives
Auomates level one tasks
Aligns with existing workflows
Provides audit trail
Seamless integration with systems
No disruptive changes needed
User-friendly interface
Customizability with API
Reduces compliance costs
Minimizes customer onboarding friction
Automates risk investigations
Automates document reviews
Addresses registry extracts handling
Addresses proof of address handling
Powered by large language models
Investigates business nature holistically
Includes industry classification analysis
Includes address analyses
Includes website reviews
Includes online presence risk signals
Can interact with existing Sanctions/PEP/AdverseMedia systems
Verifies business information
Validates customer uploaded documents
Business info and document validation for onboarding
Tool is sanctioned by regulators
Safe to use
Follows specific workflows and policies
Ensures operational continuity
Integration takes only hours
Reduces need for manual tasks
Creates more opportunity for strategic work
Strengthens overall risk assessment
Lowers customer friction
Saves time and resources
Flexible to internal tooling
Offers comprehensive services
Broadens capabilities of compliance teams
Specific to fintech industry
Depends on large language models
No mention of multicurrency support
Doesn't highlight real-time analysis
Unclear data privacy measures
No accommodating feature for non-AML/KYC systems
Implementation time not specified
Limited to due-diligence tasks
No out-of-the-box alerting system
Unmentioned scalability to large corporations
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