Data agnostic, automated search across third party, internal, and open sources datasets in near real time concurrently.
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Industries
Education
Higher Education Institutes (HEI) face a number of financial crime threats. It is feared HEIs could be a soft target for money launders. And, while they are not bound by AML regulations, an influx of students whose objective is to drop out will affect safety and the HEI’s reputation. In addition, HEIs have numerous suppliers and appointees who could potentially cause great damage to the HEI by fraudulent activities.
It is therefore essential that they have the capability to carry out rigorous enhanced due diligence on the source of student funds, their employees and suppliers.
Unfortunately, these kinds of complex due diligence checks require data from multiple sources, and manually collating, cross referencing to find hidden links, and organising that research into reports is incredibly time consuming and costly.
Our unique automation platform, Scout® aggregates data from multiple sources, including Synalogik, third-party, open source intelligence, and credit reference agencies into one single, unified solution, saving compliance and investigation teams up to 85% of their time.
Supercharged operational efficiency – Commercial, consented, open source and the option for internal data from previous investigations offers a genuine single intelligence solution that maximises the efficiencies that automation can provide; reducing investigation time, costs and training and delivering reports in less than a minute.
Commercial Monitoring – It is not enough to just do due diligence once as the financial and governance situation of a supplier can change at anytime. Our commercial monitoring tools enable you to get real-time, ongoing notifications to the risk associated with a supplier to better protect yourself.
Better Student and Supplier Relationships – Reports compiled in less than a minute enable your business to make decisions on validating student funds and suppliers more quickly, ensuring faster onboarding, genuine students choose your HEI, and your access to supplier resources is optimised.
Better EDD Decisions – Automated search and risk workflows, open-source tools and standardised, in-depth and clear reports, free of human error, give your team the tools and time to focus on decision making. In doing so, be more rigorous and better protect your HEI from fraud or reputational damage.
Synalogik datasets – Synalogik datasets include standard, enhanced and premium personal identifiable information (PII); global commercial data; PEPs and Sanctions; credit application; disposable phone and email; credit address links; CCJ and bankruptcy; land registry; and compromise checker, among others.
“Aston University has been working with Synalogik to develop our third party risk assessment and due diligence processes for the last six months. Synalogik has proven to be a flexible, helpful and knowledgeable partner in this time and continue to develop its software, Scout®, to our particular use case during the project.”
Ben Stone
–
Aston University
Case study
Scout® Automates the Investigation of Modern Slavery in a Potential Supply Chain Agreement
Harrison Clark Rickerbys (HCR)’s international law team had to advise whether their client should enter into supply chain agreements with a manufacturer in Xingyang, China. Scout® analysed and collated the results within seconds from across the internet into a unified, standardised report with all the sources fully auditable.
Our innovations
Scout® is made up of many innovative feature-rich tools, each of which contribute to maximising operational efficiency within your team.
Data Aggregation
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Open Source Intelligence
Create highly targeted open-source search templates with cleansing, risk assessment and filters by timeframe, country, document type, proximity and keywords.
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Workflow Templates
Create bespoke workflows to cover every business need including remediation, KYC, KYB, AML, EDD, and fraud-based investigations.
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Automated Reports
Get unified reports that standardise the presentation of your AML, KYC and EDD search results for easy viewing, downloading or export to a case management system.
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Risk Assessment
Create sophisticated rules to search for, score, and highlight specific risks according to your business needs.
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Synalogik Knowledge Base
Scout® remembers previous searches, allowing you to get alerted if a customer was the subject of or linked to a previous investigation.
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Monitoring Functionality
Create commercial monitoring rules and get updates on any changes to your supply chain in near real time.
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Advanced Investigations
Utilise our Workbench to view links between entities, clash large data sets and join multiple search criteria together to find that needle in the haystack.
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