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Applying Artificial Intelligence on Investigation

In: Artificial Intelligence Applications in Banking and Financial Services

Author

Listed:
  • Abhishek Gupta

    (Effiya Technologies Private Limited)

  • Dwijendra Nath Dwivedi

    (Cracow University of Economics, Department of Economics and Finance)

  • Jigar Shah

    (Effiya Technologies)

Abstract

Investigation of alerted cases is the real operational cost for the business. Every alerted case has to be investigated and then a judgmental decision is taken to either proceed with the case or close it. A big portion of time is spent in collating information across different channels, transaction types, parties, and KYC to assess, whether it warrants deeper investigation. This chapter discusses various analytical insights, consolidation of 360-degree view, automation of adverse media, and network as a few tools that can assist the investigator in reducing the turnaround time significantly, thereby reducing the cost of investigation. The chapter also discusses opportunities of automation through digitization, machine learning like automated triggers for risky network, and unstructured text mining for adverse media, NLG for the automation of narration creation as some of the tools for the business.

Suggested Citation

Handle: RePEc:spr:fuobcp:978-981-99-2571-1_9
DOI: 10.1007/978-981-99-2571-1_9
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