Prospero wins the namechecking benchmark

Zurich/Vienna/Stuttgart:: A large Swiss insurance company has made a broad benchmark test to evaluate the best namechecking solution. Prospero has achieved significantly the best results, this means the best detection rates and at he same time the lowest number of false alerts. The detection rate was 99%, the false alerts only 0.3%. “In our benchmark test Prospero AG reached significantly the best results. In addition the quality of services and expertise form Prospero were more than impressive”, says a company speaker.

These results have even been improved in the productive operation of the solution. There have been checked more than 6 mio. names in the batch run, each against some 480’000 risk persons from the worldcheck file and an internal black list. The analysis efforts and costs for the compliance are minimized and the security is maximized. Beside the quality of the results the live runs have shown the high performance of the Prospero solution with large data volumes. The number of executed checks in the full run was some 29.000.000.000.000! “The benchmark results are a convincing demonstration of the advantages from artificial intelligence based systems” says Dr. Peter Abel, CEO from the consulting company ATech-Consulting.

Prospero supports you for example in the implementation of the 3rd Anti-Money Laundering Act, which has to be realized until end of 2007 in the EU-countries

How easy it works:
· You specify a name or customer database to check be checked against the specified set of sanction lists;
· the checking is performed and the identified matches are reported;
· you document the results of the investigations; they are stored audit safe.

A clear and easy to understand similarity score is assigned to each detected matching. It shows the similarity degree between the checked name and the detected name(s) in the sanction lists. High performance string matching algorithms ensure the high quality search results. Relevant matches are also compared with the name derivatives, aliases, incorrectly spelled or otherwise distorted names, without flooding the user with irrelevant hits.

About Prospero;
Prospero was founded in 1999. The core business are solutions for the data exploration. The base module is the RadarX® , a unique solution that finds the relevant knowledge in complex information (data, text, images) in an automated process. Customers from different business segments benefit from Prospero’s business solutions, i.e the financial services industry (solutions for anti money laundering, fraud detection, customer behaviour modelling, credit rating etc.) or the life science (solutions for diagnostic classification, drug research, lab automation).
Some clients: AO Foundation, Creditreform, CZSG, Helvetia Patria, Liechtensteinische Landesbank, Post Finance, VBS, Winterthur and Zurich Financial Services.