Compliance regulations around the world are tightening and as a result, financial institutions must screen customers and transactions against terrorism and sanctions watch lists. At the same time, the penalties for non-compliance have been increasing. With record fines and executive accountability, the risks of operating a financial institution are at an all time high.
Operating in this increasingly global environment presents a whole new set of problems. When customer names are in one language and the watch list is in a different language, you must still be able to evaluate your risk.
“We’re really impressed with Rosette Name Translator’s capabilities and how it has improved our OFAC name checking process.”— Peter Wilkinson, VP of Application Development NCB Capital
Rosette is designed to provide a flexible set of capabilities for translating and searching names in many languages through two components.
Rosette Name Translator (RNT) provides high-quality name translation. By integrating RNT with your existing compliance solution you’re able to quickly and easily translate your customer names into English at any point in your compliance process: account opening, KYC, watch list filtering, or fraud monitoring.
Rosette Name Indexer (RNI) provides watch list filtering in multiple languages. Don’t miss a potential hit, even if customer names and watch lists are in different languages or scripts. This unique technology can directly compare names in different languages without requiring translation.
Rosette Name Translator delivers lower cost and higher reliability than conventional approaches by utilizing a knowledge-based translation engine.
By leveraging our unique combination of statistical models, language-specific rule sets and phonetics, we offer a true translation capability – going far beyond the confusion and inconsistency of traditional transliteration approaches.
Enable your existing compliance solution to process names in multiple languages with Rosette Name Translator. It is designed to easily integrate with account opening, Know Your Customer, watch list filtering software and fraud detection software.
Rosette Name Indexer is a cross language watch list filtering engine which leverages linguistic knowledge to find matches that other name matching products cannot.
Cross language name search engine utilizes linguistic knowledge to:
RNI uses knowledge of different cultures and writing systems, which allows it to handle spelling variations and errors, and non-standard Romanizations of names from many languages – within and across script boundaries.
How can your organization comply with international sanctions programs when your customer names are in one language and the sanctions list is in another?
The problem is further magnified when the lists themselves contain multiple languages or translated data – like the U.S. OFAC List. There is no single standard for name translation, and manually translating names is expensive, time-consuming, and error-prone.
Control your exposure to risk by directly matching names in different languages with our highly accurate filtering engine designed to work effectively in the global compliance environment.
Translate and Search for Names written in Arabic, Chinese, Dari, English, Farsi, Japanese, Korean, Pashto, Russian, and Urdu.
RNI is able to handle the following matching problems:
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For more information check out a solution brief on Financial Compliance, or read a whitepaper about Why Know-Your-Customer (KYC) Has New Meaning for Financial Institutions: The increasing complexities of matching customer names with watch lists or about How to Make the Right Match on Watch Lists.