Overview
The First AML and Xapien integration brings Xapien's deep due diligence research into the First AML case. Analysts can investigate complex and higher-risk clients without leaving the case or breaking its audit trail.
Xapien researches corporate records, sanctions lists, media and the open web across languages and jurisdictions and returns a report with every finding referenced to its source.
For firms with a Xapien agreement, the check runs from the individual or entity profile. First AML pre-fills the subject's identifying details, confirms the match with Xapien, requests the report and stores both the report link and the finished PDF against the profile with the case's other CDD evidence.
Favourite features
The research is done before the review starts
Analysts launch a Xapien check from the profile with the subject's details already filled in. First AML sends a notification and an email when the report arrives. The searching is finished before the analyst opens the case, so their time goes on judgement.
A sourced report on the case record
The finished report is stored as a requirement against the individual or entity. Every finding is referenced to its source, so the evidence behind an EDD decision sits on the same record as the rest of the CDD, ready for approval, audit or a regulator's questions.
Depth where firms decide it's needed
Xapien covers sanctions exposure, PEP links, adverse media, ownership and source of wealth. Firms choose when to run it: as a first pass on new clients, or as a deep dive on the complex ones.
“The software itself is very intuitive - it’s not complex, it has amazing features like the corporate structure visualisation tool where I am able to map out the whole client structure, the bespoke risk assessment of course and the risk rating – everything is in one place.”
Ghassan Badran, MLRO, Meysan Partners