Data agnostic, automated search across third party, internal, and open sources datasets in near real time concurrently.
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 GB Group, LexisNexis, CreditSafe, Companies House, 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.
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.