Advantages of Our Knowledge-Based Approach

Instead of specifying every possible name variation exactly, our approach teaches a computer to identify variations based on the same linguistic knowledge people apply in real life.

This person’s name can be written in any of these following ways and many, many more:

International banks must adhere to compliance rules and regulations to protect their most valuable asset – their reputation. By failing to identify a high risk customer or sanctions list member the institution risks violating government regulations, while false positives – wrongly identifying customers as being on the list – waste money on expensive manual investigation. Therefore, financial institutions must identify cases like these with high precision:

• A Chinese business woman recently added to the OFAC list due to association with terrorist groups
  • She attempts to open an account using a different English spelling of her name
• A Saudi national under investigation for money laundering activity
• He only appears on a sanctions list from Jordan in Arabic script

Additionally, Politically Exposed Persons (PEPs) need to be screened and carefully processsed.

Rosette name technology, from Basis Technology, protects financial institutions with a highly tuned algorithm that reliably scores names against watch lists to pinpoint matches across languages and writing systems, without resorting to massive lists of name variations.

Basis Technology’s knowledge-based approach has several key advantages over the traditional brute force “list them all” approach:

• Fewer false positives — applies human knowledge, but more quickly
• Fewer false negatives — finds names that traditional techniques miss
• Faster checking — relies on an algorithm, not massive name variation lists

Name Scoring & Matching

The Rosette Name Indexer (RNI) automatically scores thousands of names in seconds against OFAC and your sanctions lists. RNI eases your compliance with the U.S. Patriot Act, Know-Your-Customer (KYC) regulations, and anti-fraud and anti-money laundering (AML) measures.

With our approach, the name scoring system can accurately match names despite:

• spelling variations
• missing name components
• phonetic variations
• names written in different languages

Name Translation

The Rosette Name Translator (RNT) will converts names written in foreign scripts (Arabic, Chinese, Korean and more) to English equivalents, consistently and reliably for easier processing by users and your existing software. RNT is vital if you have a pre-existing system that only handles names written in English.