Experian’s Sentinel™ Commercial Entity Fraud Suite received a silver medal for “Best Know Your Customer/Business (KYC/KYB) Innovation” in the 2024 Impact Awards in AML (anti-money laundering).The award was given by Datos Insights, a global advisory firm providing mission-critical insights to the Financial Services industry.
The Sentinel Suite addresses complex challenges that inhibit financial institutions’ capability to safely capture new business while limiting fraud exposure. Leveraging Experian’s more than 250 million consumer files and more than 28 million business records, as well as advanced analytics and machine learning techniques, the suite delivers comprehensive fraud detection, greater operational efficiency, flexible risk assessment and decisioning, and improved customer experiences.
“Given the AI-driven acceleration of fraud attacks, coupled with the lightning-fast speed of simply doing business in a highly competitive digital marketplace, lenders need a solution that delivers single, actionable pass-fail insights in real-time to help them make informed decisions quickly and efficiently,” said Brian Bond, Senior Vice President of Experian’s Business Information Services (BIS). “Sentinel works with our Precise ID and CrossCore platforms to offer KYC and KYB verification at unrivaled speed, and we deeply appreciate Datos Insights’ recognition of the value that the suite offers to our customers.”
Datos Insights defined this category as featuring new solutions, innovations, or data sets that streamline and enrich the KYC/KYB processes underlying the onboarding, servicing, ongoing risk profiling, and due diligence of individual and corporate customers. In this context, Sentinel is bridging the gap between business and owner verification to create a seamless onboarding experience that helps lenders and creditors grow without fear.
“The financial crime landscape continues to evolve rapidly, with criminals employing increasingly sophisticated techniques to evade detection. Traditional approaches to fraud prevention and AML compliance are often insufficient to keep pace with these evolving threats,” said Chuck Subrt, Fraud & AML Practice Director at Datos Insights. “In response to these challenges, the industry is seeking innovative tools and solutions that can streamline processes, reduce false positives, uncover hidden risks, and provide more comprehensive and accurate risk coverage.”
Datos Insights found “Experian’s commitment to ongoing innovation suggests that Sentinel will continue to evolve and address emerging industry needs. The results reported by clients using Sentinel Suite are impressive, with considerable improvements in fraud detection rates, accuracy, and operational efficiency. These realized benefits, combined with its promise to elevate regulatory compliance and customer experience, make it an effective tool for FIs looking to enhance their risk management capabilities.”
About Datos Insights
Datos Insights delivers the most comprehensive and industry-specific data and advice to the companies trusted to protect and grow the world’s assets, and to the technology and service providers who support them. Staffed by experienced industry executives, researchers, and consultants, we support the world’s most progressive banks, insurers, investment firms, and technology companies through a mix of insights and advisory subscriptions, data services, custom projects and consulting, conferences, and executive councils. Visit datos-insights.com to learn more.
About Experian
Experian is a global data and technology company, powering opportunities for people and businesses around the world. We help to redefine lending practices, uncover and prevent fraud, simplify healthcare, deliver digital marketing solutions, and gain deeper insights into the automotive market, all using our unique combination of data, analytics and software. We also assist millions of people to realize their financial goals and help them to save time and money.
We operate across a range of markets, from financial services to healthcare, automotive, agrifinance, insurance, and many more industry segments.
We invest in talented people and new advanced technologies to unlock the power of data and innovate. As a FTSE 100 Index company listed on the London Stock Exchange (EXPN), we have a team of 22,500 people across 32 countries. Our corporate headquarters are in Dublin, Ireland. Learn more at experianplc.com.
