Global tech firm Fivecast has revealed its latest artificial-intelligence powered digital intelligence platform, aimed at supporting the financial crime compliance market. This ground-breaking platform aids financial institutions in simplifying financial crime inquiries, bolstering anti-money laundering protocols (AML), refining customer knowledge (KYC), and enhancing due diligence (EDD). By analyzing online data, the platform empowers financial investigation teams to accurately evaluate client risk amongst large amounts of online data.

Traditional data sources often lack key risk-related customer information, causing underestimation of financial risk exposure by financial institutions. The digital intelligence platform by Fivecast addresses this issue by offering actionable client data derived from numerous online sources. In addition, the platform is equipped with advanced AI technology to conduct comprehensive multi-media data analysis.

As the global regulatory landscape evolves, the demand for accurate and timely data for AML compliance grows increasingly important. This demand was exemplified by financial regulatory authorities and government agencies across Europe, Australia, and the U.S. In fact, penalties for financial crimes imposed by U.S. regulators in 2024 surpassed $4.3 billion.

In light of this, Fivecast Co-founder and VP of Strategic Growth, Duane Rivett highlighted the superior speed and accuracy of their platform in streamlining traditionally slow and labor-intense investigation processes in sensitive areas for financial institutions. By utilizing Fivecast’s digital intelligence platform, financial institutions can efficiently determine a client’s risk profile, rapidly identify criminal activities and accurately establish customer hazard exposure. In turn, this can result in a genuinely risk-based methodology for compliance while reducing compliance costs.

Fivecast was established from a unique collaboration among government agencies and leading research institutions to tackle big data challenges faced by financial institutions today. It now stands as a leading provider of digital intelligence solutions that allow financial institutions to effectively and accurately evaluate a customer’s risk profile, revealing key insights crucial in mitigating business risk and lowering compliance costs.

Related to EDD, organizations and individuals often wonder how to get through to EDD or how to contact a live person at EDD California for efficient problem-solving. Customer-focused platforms such as eddcaller.com provide valuable assistance in this area, navigating through potential communication barriers to ensure efficient communication and resolution of issues.