Ondato's AI Revolution: Streamlining AML Checks and Onboarding

Published Date : 7/1/2025 

Ondato introduces an AI-powered adverse media tool to streamline AML workflows, cutting onboarding time while enhancing fraud prevention. This innovation automates risk assessments during KYC processes, offering real-time summaries and risk scores for financial institutions. 

Ondato has made a significant leap in the financial compliance space with its new AI-driven adverse media feature, designed to simplify anti-money laundering (AML) procedures. This tool is set to transform how financial institutions conduct identity verification and know-your-customer (KYC) checks by integrating advanced screening capabilities directly into their workflows. The feature automatically scans online sources for negative mentions, such as fraud allegations, lawsuits, or regulatory actions, during the onboarding process. This helps AML teams identify potential risks more efficiently, reducing the time and resources required for manual checks. n nThe adverse media screening tool is activated during the KYC process, ensuring that it works seamlessly with existing identity verification systems. It analyzes the context of any adverse mentions while evaluating the credibility of the sources, providing a nuanced understanding of the risks involved. This approach not only saves time but also minimizes the chances of overlooking critical information. Ondato claims that the AI generates a concise summary of findings, which is displayed on the Ondato OS dashboard. Alongside the summary, users gain access to links to the original sources and an automatically generated risk score. This level of detail allows compliance officers to make informed decisions without having to sift through unrelated data. n nOne of the standout features of this tool is its customizable deployment. Financial institutions can integrate it into their current IDV (identity verification) setups upon request, making it adaptable to various operational needs. This flexibility is crucial for organizations with unique compliance requirements or those looking to scale their AML processes. According to Ondato, the tool is part of a broader strategy to embed AI deeper into the AML lifecycle, addressing the evolving nature of financial crimes. As threats become more sophisticated, the need for automated, intelligent solutions is more pressing than ever. n nLiudas Kanapienis, CEO and co-founder of Ondato, emphasized the importance of this innovation. He stated, 

Frequently Asked Questions (FAQS): 

Q: How does Ondato's AI-powered adverse media feature work?

A: Ondato's tool automatically scans online sources for negative mentions during KYC checks, analyzing context and credibility to generate risk scores and summaries for compliance teams.

Q: Can the adverse media tool be customized for different institutions?

A: Yes, the tool is customizable and can be integrated into existing IDV setups, allowing organizations to tailor it to their specific compliance needs.

Q: What impact does this tool have on onboarding time?

A: By automating risk assessments, the tool significantly reduces onboarding time, enabling AML teams to focus on critical decisions rather than manual data checks.

Q: Where does the adverse media data come from?

A: The tool sources data from online media outlets, ensuring compliance officers have access to the latest information on potential risks.

Q: How does Ondato plan to expand its AI tools in the future?

A: Ondato aims to embed AI deeper into the AML lifecycle, enhancing all stages of compliance to address evolving financial crime threats. 

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