Convier

Norwegian banks are having a spike in EDDs these days 🇳🇴 ✈️🇨🇭

Enin + Convier = 🕵️♂️📝🏎️ Data providers like Enin are absolutely crucial for AML analysts, but even with all the information available at your fingertips, one important task remains unsolved: Documenting the findings. Convier integrates with Enin, making all their data available inside our platform alongside internal customer data. With Convier’s autocompleted report templates, analysts can spend time on their actual job; giving their expert opinion on the actual risks for this customer.

Like a spider, Convier creates a web of data so that anything that comes into it can be identified, assessed and, um … reported on? Ok, this metaphor may need some more work, but you get the point!

This summer we built a top-notch reporting feature for our AML/EDD system, and I'm absolutely thrilled with the result! More on how we got here 👇 Reporting has been a part of Convier for about a year now. It was initially a basic editable HTML tool that could pre-load data and rules from various sources into a text template. While it got most of the job done, we knew it lacked key capabilities to be a complete reporting tool. By the end of the year, we had realized that this simple reporting tool was actually very important to our users. Their task isn’t to gather data - it’s to analyze, make decisions, and, importantly, document findings for future use. So a few months ago, we decided to give reporting the attention it deserved. We transformed it from a basic tool into a full-featured, rich document editor where all relevant data is available within a few keystrokes. Imagine a blend of PowerBI and Notion. However, writing a report is just the beginning. What sets Convier apart is that it doesn’t require its own data storage system, and this extends to reporting as well. We’ve designed reporting to use any external platform as the “system of record.” This means you can store all report versions, whether draft or final, in your CRM, like Dynamics, while still leveraging Convier’s powerful data integration and analysis capabilities. This makes it fit seamlessly into your existing systems. I’m extremely excited about getting this into the hands of more users. Reach out if you would like to try it for yourself!

Investigation reports are often filled with screenshots. Screenshots are like taking a photo of your dinner—by the time you share it, it’s already cold and outdated. 🍽️ That's why we introduced dynamic reports 📊. With a report like this, you can automatically compare data and detect changes the next time you do an EDD of this customer. Keep your data hot and fresh, and never serve stale information again! 🚀

📄 Still writing EDD reports in Word? Documentation represents a major manual burden in AML, but also the most important to demonstrate compliance. So we thought we’d make it easier. To make your day a little better. So here's a peak at our reporting tool that: 🔷 Automatically fills in data: Our generator automatically fills the report with relevant information, saving you time and reducing the risk of human errors. 🔷 Highlights risks: Risk factors can be explained and documented with a rich library of data visualization options. 🔷 Displays analyst guidance: Include guidance to the AML analyst on how to investigate the specific case at hand. Automatically pull in best practices and regulations that are relevant to the detected risks in the current case. 🔷 Compares historic data: Compare data from previous reports, uncovering trends and deeper insights about the customer. Let us know if you want to check it out!

When things don't go as planned, TGIF! 😂

Curious about how we're implementing Large Language Models in our platform? Our co-founder & CTO, Petter Christian Bjelland, has written an insightful article reflecting on the considerations we made during the implementation of LLMs. Check out the comments section below for the link to the article.

Our co-founder & CEO, Andreas P. Engstrand, CAMS is speaking at the Norway Fintech Festival in two weeks. If you're at the conference, don't miss out on this exciting session!

"There are accountants who seem to only provide services to criminal actors." This was one of the observations in the Annual Risk Assessment by the Norwegian Police (Politidirektoratet) that was published last week. They report a significant increase in organised crime with actors becoming more professional than before. In our webinar tomorrow with Daniel Bakke from DNB, we will look at how financial institutions can help identify one such scenario using graph analytics. There are still some seats left, so head to the event page to sign up.