iDenfy introduces the smarter and AI-driven AML screening system to enhance compliance, detect fraud, and obtain real-time data insight to screenings through the RegTech.

A leading regtech developer called iDenfy, located in Lithuania, has introduced a new wave of Anti-Money Laundering (AML) systems, which is a big advancement in compliance automatization. The new RegTech solution allows organizations and individuals to screen themselves and companies against global embargo, Politically Exposed Persons (PEP) sanction lists, and other risk data in real time.

The new structure will enhance transparency, data integrity, and auditing in AML, KYC, and KYB systems at iDenfy, according to its CEO, Domantas Ciulde. The more advanced platform is easy to comply with, as the data collection and cross-matching of user details are automated so that financial institutions and fintechs can identify and handle high-risk users effectively.

The enhanced RegTech software also brings in customizable risk filters, automated reporting, and enhanced PEPs classification to enable organizations to implement specified due diligence actions. All checks are recorded under elaborate audit trails; here accountability and regulatory congruence are present.

Working with more than 45,000 official international sources, the iDenfy system regularly updates itself based on geopolitical factors and new requirements of compliance. The RegTech solution is expected to reduce false positives and friction in operations and increase trust and security in the industry with the precision of AI.