Mongoose Global Intelligence

Main Story:
Open Source Intelligence for financial risk assessment

Mongoose Global Intelligence provides a comprehensive and integrated compliance solution. Our solution accesses the extensive global watch lists, adverse media, personal and corporate profiles and extracted general web intelligence that compliance officers depend upon. The solution accesses these sources in near real time improving the reliability and timeliness of information. It then applies Intelligence to create a succinct and accurate analysis of the information.

The amount of information available can be overwhelming. It can vary from hundreds of thousands of pages of compliance watch lists and politically exposed persons (PEPs), to millions per month of news media, to tens of millions of pages of general KYC profiles. This information comes in dozens of formats and languages. In order to make this information accessible, it is transformed by the Mongoose system using specialised format converters, structured data extractors and natural language processors. Relevant data elements can then be extracted. The result is tens of millions of raw data records that are processed accurately to provide meaningful results for compliance customers.

In order for the volumes of information to be useful it is standardised. Raw data records are normalised into a common form and indexed in preparation for searching. Fields to be indexed are first converted to a common Roman alphabet from more than twenty common character sets used by eighty foreign languages. The result is then case normalised, stripped of accents and phonetically encoded and stored in an index for the first phase of searching.

Once standardised, the information is intelligently sorted. Records are clustered together by unique person or company name to create useful profiles before triggering a search. This requires compute intensive algorithms that compare all fields in all records, marking those that match closely. These automated algorithms are carefully chosen and well tuned to achieve a very high degree of accuracy. Automation also eliminates the time delays and errors associated with manual data entry.

The search phase requires both speed and precision to quickly find the best matching results while minimising false matches. Speed is achieved by the first phase indexed search which, while fast, can generate a significant number of matches which may or may not be relevant but also take time to review. The second phase of the search filters the initial results to produce a list of matches exceeding a chosen threshold.

This step is critical in producing a precise and more concise list of matches while being tolerant of common misspellings and character transpositions.

While the technical approach of the compliance system in generating Open Source Intelligence is important, so is its user interface. Mongoose provides effective screening workflow tools which seamlessly integrate with existing in house systems to streamline the process of compliance due diligence. Our solution can track the steps taken during screening and produce a detailed report outlining the process followed to ensure compliance.

Mongoose effectively streamlines the due diligence process required to assess financial risk and meet the requirements of global compliance legislation through its intelligent, targeted and automated approach in analysing information. Mongoose understands that what is important is real intelligence, not just information.