Announcing spektrAI: Compliance AI, Controlled by You

AI has been a major focus this year, with many seeing it as a breakthrough while others are cautious about its use. In compliance and risk management, the tasks are too important to leave entirely to AI. While AI can handle complex tasks like understanding text and summarizing information, it’s essential to use it carefully to avoid mistakes.

That’s why we’re introducing the spektrAI step. This feature lets you decide exactly how AI fits into your work. Rather than automating everything, it gives you control over where and how AI assists, ensuring it supports your specific needs without overstepping its role.

AI can save time with tasks like monitoring media, checking sanctions, or processing documents, but it needs to be applied with care.The consequences of false positives—or worse, missing real risks—are too high. With spektrAI, you remain in control, deciding how much help you want from AI based on the demands of each task. This way, AI enhances your work without replacing your judgment.

Introducing the spektrAI Step

The spektrAI step lets you decide how AI fits into your workflow. You can choose whether AI simply suggests actions or takes on tasks based on your guidelines—always leaving the final decision in your hands.

• Tailored authority: Adjust AI’s role based on the type of alert or the risk level. For low-risk tasks, you might let spektrAI resolve issues automatically, while for high-risk scenarios like sanctions screening, you might prefer AI to suggest actions while you maintain control.
• Process-level configuration: You can customize how spektrAI functions for different processes, allowing similar alerts to be handled differently depending on the context. This ensures that AI supports your specific compliance strategy.
• Integration with your compliance strategy: spektrAI fits into your existing KYC, KYB, and AML processes, serving as a key component in your compliance toolkit—enhancing efficiency without compromising your control.

How It Works: A Closer Look at spektrAI in Action

Let’s explore how spektrAI enhances adverse media monitoring, a process that often involves sifting through large volumes of data to identify potential risks:

1. Identifying false positives

spektrAI goes through the media alerts from different sources to find what’s actually relevant. It can spot articles that don’t really concern your customer, helping you avoid wasting time on unnecessary reviews.

2. Understanding article content

It reads and comprehends articles, discarding irrelevant details like financial updates that don’t pose a risk. It also handles multilingual content, providing accurate information from any source.

3. Summarizing and categorizing

spektrAI organizes and summarizes information, especially when multiple articles cover different aspects of the same subject, enabling quicker decision-making.

4. Providing justifications

For every decision or suggestion it makes, spektrAI provides a clear justification. Whether it’s dismissing a false positive or highlighting a genuine risk, you get the reasoning behind each conclusion, letting you to make the final call with confidence.

Real-World Impact: Putting spektrAI to Work

Imagine you’re reviewing a corporate client for potential risks. An adverse media search turns up a lot of hits, ranging from minor news to serious allegations. Without AI, you’d need to go through each piece of content manually—a time-consuming and error-prone task.

The AML service used for adverse media checks returns 40 potential hits for your client LLC Nestle Russia. Some hits are about other Nestle jurisdictions and holding companies. These hits include various articles about different subjects over the past few years, such as share prices, directors retiring, and more serious accusations like money laundering, embezzlement, environmental damage, and human rights violations.

Clearing LLC Nestle Russia and deciding whether to categorize them as high risk is going to take a while. With spektrAI, the process is much simpler. It filters out irrelevant articles, organizes the important ones, and even summarizes the findings. Depending on how you’ve set it up, spektrAI might automatically clear low-risk alerts or suggest actions for higher-risk items. You still make the final decision, but the hard part is done, letting you focus on what really matters.

We’re excited for you to explore how our new features can improve your compliance processes. To see how the platform fits into your workflow, we invite you to access a free trial. We’re always happy to hear your feedback and learn about any additional features you’d like to see!