Asset Screening
DetectX® Asset Screening applies the same AI-driven search and matching used for names to the instruments themselves, so a restricted asset is identified before it is held.
The DetectX® approach
Assets are screened against sanctions lists, public databases and over 30 adverse media sources, so a risk attached to an instrument rather than to a person is still found.
Global databases are monitored continuously for regulatory updates, and fuzzy string matching is applied to asset identifiers so a transposed or reformatted identifier does not read as a different asset.
- Sanctions and embargo lists
- Assets are cross-referenced against international lists.
- Identifier discrepancies
- Differences between the identifier supplied and the one on record are surfaced rather than reconciled silently.
- Similarity scores and thresholds
- Every match carries its score, and the threshold at which it becomes an alert is yours to set.
What it changes
Screening is automated rather than periodic, and every screening decision leaves an audit trail that can be produced for a regulatory review.
- Earlier identification
- A restricted instrument found before settlement is a decision; found after, it is an incident.
- Compliance evidence
- Detailed audit trails for regulatory reporting, rather than a reconstruction after the fact.
Prospero reports up to a 98% reduction in false positives, and up to 100% success in identifying true high-risk assets.
Why DetectX®
Asset screening reads the same lists as Name Screening and raises alerts into the same queue, so an instrument and the counterparty holding it are judged against one set of data. Two screening systems eventually disagree, and the disagreement is found by an auditor.
Regulatory requirements
DetectX® supports the FATF and GAFI recommendations, and is used against Swiss regulatory requirements including GwG, FINMA-GwV, VsB 16, KAG, FinfraG, FidleG, BEHG and KKG.
It also supports MiFID and EMIR reporting obligations, and BASEL II and III requirements.
See Asset Screening on your own data
A demo runs against a scenario you choose, so the alert volume and the match quality are yours rather than ours.
Request a demo