List screening

In Banking and capital markets

Our solution identifies true hits, reduces false positives and prioritizes investigation and disposition of alerts. We embed advanced digital and analytical techniques rather than rule-based models, and our skilled people and processes support this tech-enabled service.

What EY can do for you

Screening is a critical part of anti-money laundering (AML) compliance programs and the fight against financial crime. Banks must vet customers against sanctions, watchlists, politically exposed persons (PEPs) and adverse media lists. Screening is also required in anti-bribery and corruption efforts and third-party risk management programs where institutions must screen suppliers, vendors, agents and business partners.

Thanks to increasing complexity, exploding data volumes and rising regulatory requirements, screening customers and transactions has become more expensive and less effective. Outdated technology and manual processes are significant challenges too. In addition, many banks are unsure about the quality of critical data elements or how well their screening engines perform against industry standards and benchmarks.

As false positives proliferate, banks are challenged to focus their resources on the cases that present the most risk. And, customer satisfaction is at risk if onboarding processes take too long.

Our screening services can reduce false positives by up to 70% and substantially increase true match alert identification, helping to address cost concerns, boost effectiveness and enhance customer experience.

Enabled by advanced technology, the suite of services for list screening includes:

  • Screening engine quality assurance

    Custom, industry-standard synthetic test packs to evaluate the efficiency and effectiveness of existing screening engines, including detailed peer benchmarks and recommendations for improvement

  • Secondary screening smart decisioning

    Machine learning and artificial intelligence (AI) techniques dramatically reduce false positive alerts and free investigators to focus on actual risks. Secondary screening-based quality assurance detects hidden risks within customer populations, while providing auto-generated investigator narratives for dispositioned alerts

  • Advanced list management

    Sourcing, rationalization and harmonization of sanctions, PEP watchlists and customer data files to identify areas of under-or over-screening and assess impact on alert volumes

  • End-to-end screening services

    A managed services model for list screening operations—from alert generation through investigations—including access to skilled and experienced staff for review and escalation of suspicious activity

  • App and application programing interface (API)-based screening services

    Automation of sanctions, PEP and adverse media checks through secure APIs or web and mobile apps

Why EY

We are a worldwide leader in the fight to disrupt financial crime. EY teams made up of 3,800+ industry and domain professionals from across the globe bring a wealth of knowledge and strong relationships with regulators.

  • Proven methodology, technology and processes support global organizations and help rapid deployment.
  • The experienced teams include senior leaders and skilled regulatory, technology and operational professionals who know how to design, implement and manage screening programs to meet enhanced scrutiny.
  • We have a proven track record in a broad range of financial crime domains, including customer due diligence, transaction monitoring and control testing.
  • The approach allows for flexible and scalable delivery, including cloud, web-based services or on-premise installations, to meet specific organizational needs.
  • Service centers across the globe provide consistent capabilities and quality around the world, with onshore, nearshore and offshore locations to meet current demand, as well as assist with delivery, risk and cost requirements.

We have invested US$100m in a proprietary financial crime compliance platform, which is the foundation for EY screening services. Based on industry standards and controls, this platform facilitates the use of AI and machine learning so banks can incorporate larger and more complex data sets into their screening programs and analyze them more precisely.

Other EY services to help banks fight financial crime include:

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