SEON is a comprehensive Fraud, Risk, and Anti-Money Laundering solution that meets all your regulatory requirements. 

Choosing a comprehensive fraud and AML solution over a point solution such as Acuris is vital as it enhances AML detection accuracy, streamlines customer onboarding, and reduces operational costs by minimizing manual reviews and false positives.

Comparison Table

See how SEON compares to Acuris side-by-side. We’ll go into further detail for each of the key capabilities below.

Why Choose SEON over Acuris

SEON Streamlines AML Screening & Monitoring Checks

TLDR: If you’re looking to fine-tune and optimize your compliance program, SEON is your best bet. If you’re looking to fulfill a checkbox exercise, Acuris could get the job done. 

Effective screening and monitoring help prevent financial crimes by ensuring that organizations do not inadvertently facilitate illegal activities while also mitigating false positives, which can place a burden on compliance teams. 

When it comes to AML screening and monitoring, both solutions deliver what it takes to ensure you maintain compliance and have you covered for checking against politically exposed persons (PEP), relatives and close associates, adverse media, sanctions, crime and watchlists. 

SEON enables both manual checks and streamlined oversight via API calls with intelligence sourced directly from government websites and updated regularly.  Acuris’s platform, KYC6, supports compliance functions such as manual searches, batch updates, and API-driven checks. 

However, a key part of any compliance program is reducing false positives. For example, with custom rules, you can set up PEP tiers to automatically decline, approve and review alerts. With SEON you can create custom rules to tailor your screening specific to your regulatory requirements. Acuris does not. 

SEON vs Acuris

• SEON: Tailored screening and monitoring

• Acuris: Screening and monitoring 

SEON Automates Transaction Monitoring in Real-Time 

TLDR: If you want to cover your bases monitoring transactions for AML activities, SEON is the easy choice to get up and running quickly. 

Transaction monitoring is critical for identifying, managing, and preventing money laundering activities. It involves the continuous observation of customer transactions to detect patterns that may indicate fraudulent or illegal behavior. 

SEON provides real-time transaction monitoring, which is essential for a robust AML compliance program, enabling teams to identify potential money laundering and financial crimes promptly. By integrating transaction data with customer profiles, SEON’s system can analyze both historical and current activities to uncover complex money laundering schemes or suspicious behaviors that might warrant filing a suspicious activity report. This proactive monitoring is bolstered by the use of AI, which enhances the system’s ability to detect anomalies that might elude traditional monitoring systems.

Acuris does not offer transaction monitoring, making it more of a lightweight solution that would need to be combined with homegrown analysis or additional solutions. This could lead to increased costs and complexities, as well as potential gaps in monitoring if the integration between systems is not seamless. The lack of an in-built transaction monitoring feature may limit the effectiveness of Acuris’s overall AML compliance capabilities, making it more challenging for compliance teams to have a comprehensive overview and timely response to risks.

SEON vs Acuris

• SEON: Offers AML transaction monitoring 

• Acuris: No transaction monitoring 

SEON closes out cases faster with in-depth fraud data

TLDR:  If you want to close out alerts faster, increase collaboration between fraud and compliance teams and get more nuanced and context-rich insights, SEON is the ideal choice you can switch on using only a single API call. 

Fraud insights are an emerging tool in a compliance team’s toolbox that can enhance the effectiveness of AML programs by providing deep, actionable intelligence about potential suspicious activities. Effective compliance analysis integrates various data points, from transaction patterns to digital footprinting and user behaviors, helping compliance teams anticipate and mitigate risks more effectively, while also giving them more data to close out alerts.

SEON offers a comprehensive fraud and money laundering prevention solution. With a holistic solution that covers the entire customer journey, you can gain a more nuanced and context-rich view by cross-checking AML information against thousands of fraud data points associated with each user. For example, you can see if the customer is using a  VPN, privacy browser, concealing their location and other suspicious behaviors. This consolidated, real-time view enhances and fast tracks risk decision-making by enabling analysts to use thousands of data points to connect the dots so they can close out alerts faster.

Unlike SEON, Acuris’ is a point solution that does not have a fraud solution. For fraud and compliance teams that are looking to work closer together and leverage the same customer insights, they would need to supplement its platform with additional solutions to achieve a similar but not as robust level of fraud insight, further adding to increased complexity and costs with integrating multiple solutions. 

SEON vs Acuris

• SEON: Complete fraud and money laundering prevention solution 

• Acuris: AML Screening and Monitoring point solution 

SEON Increases AML Detection Accuracy With Customization & AI

TLDR: Customization and AI mean efficient automated checks and pattern recognition not visible to human eyes, SEON offers AI detection, whereas Acuris doesn’t, making it the clear winner.

Customization and AI are pivotal in modern anti-money laundering compliance solutions. They enable organizations to tailor their programs to specific regulatory requirements and risk profiles, while AI enhances the ability to detect and respond to potential threats with greater accuracy and efficiency. 

SEON stands out in the market with its highly customizable AML solutions powered by sophisticated AI technologies. The platform allows you to configure custom rules that align precisely with your regulatory needs and risk tolerance. This level of customization is supported by SEON’s AI-driven rules engine, which uses machine learning to analyze behavioral patterns and transaction data, detecting anomalies that may indicate suspicious activities and suggesting new rules for you to deploy on how to prevent them in the future. This AI capability continuously learns and adapts based on new data, ensuring that the detection mechanisms evolve as new suspicious patterns emerge, while providing you the explainable insight behind its suggestions. What this translates too is increased detection accuracy and reduced false positives.

However, Acuris does not offer the ability to customize screening, transaction monitoring. This means you might get more false positives and the system may struggle to differentiate effectively between genuine risks and coincidental matches, which can increase the workload for compliance teams and lead to inefficiencies. 

SEON vs Acuris

• SEON: Customizable rules & AI 

• Acuris: No customizable rules or AI

Enable Greater Adoption With SEON’s Intuitive User Interface 

TLDR:  Having all the data is pointless if you have no way to interpret it. Without an intuitive interface, you add friction to the new solution experience for an analyst. When comparing the two solutions, SEON benefits compliance analysts more

A user-friendly interface is essential as it directly impacts the efficiency and effectiveness with which teams can manage their daily operations. An intuitive, well-designed user interface facilitates quicker adoption, reduces the learning curve, and enhances productivity by simplifying complex processes. 

SEON’s platform features an intuitive and visually appealing user interface that prioritizes ease of use and operational efficiency. Designed with the compliance analyst in mind, SEON’s interface integrates fraud and anti-money laundering insights into one dashboard so analyst can get the full picture of a customer’s profile. This helps analysts easily stay on top of suspicious activity from initial alert to completing review checklists to alert escalation. The interface includes detailed analytics and comprehensive management tools built to accommodate both novice users and experienced analysts, making it easier to optimize workflows without extensive training.

Acuris offers a functional interface through its KYC6 portal, but it is more utilitarian and less focused on user experience compared to SEON. Since Acuris does not have a graphical user interface, it serves solely as a repository that consolidates access to data without enabling a way to interpret it. This limits the functionality to running compliance checks through batch or API calls. That means there is no ability to run manual checks and see an immediate response, review and manage user actions and fine-tune risk scoring.

SEON vs Acuris

• SEON: Intuitive platform with a graphical user interface

• Acuris: Online portal data repository

Benefit From SEON’s Technical Account Management Experts

TLDR: Having dedicated experts on your side matters. This makes SEON the obvious choice to ensure you have the full support you need.

When it comes to a new tool, having the proper support through technical account management is critical to its success. This superior level of support helps analysts not only use the solution properly but also troubleshoot any issues that arise.

SEON distinguishes itself by offering dedicated technical account management with a focus on providing expert support in both fraud prevention and anti-money laundering. Customers of SEON benefit from direct access to experienced experts who understand the challenges of managing fraud risks, have a purview of what’s going on in the greater industry and best practices. SEON’s commitment to top-notch customer service ensures that all customers can resolve any issues swiftly to maintain the effectiveness and reliability of their AML strategies. 

However, Acuris does not advertise that they offer technical account management. That leaves analysts searching deep within online forums to find the answers and could mean that they might find it challenging to optimize Acuris’ offering to its full potential, particularly in complex scenarios requiring nuanced understanding.

SEON vs Acuris

• SEON: Dedicated Technical Account Management

• Acuris: No technical account management

The Final Word On SEON vs Acuris

As you compare SEON and Acuris, it’s obvious that while they are both AML screening and monitoring solutions, the biggest difference is the capabilities that enable greater quality of life for compliance analysts.

If you are just looking for a point solution for AML screening and monitoring, Acuris is great for that. The limited capabilities and support make it more of a lightweight solution that checks a quick box. 

For some organizations that’s all they need, but for others that are looking to elevate their compliance team with greater insights to protect against suspicious activity, they need advanced insights functionality. 

SEON has the tools to enhance the quality of life for compliance analysts in one easy-to-use platform. Leverage more data points to connect the dots and close out alerts faster, reduce false positives with custom rules and lean on AI to detect patterns unnoticeable to the human eye. Analysts can even take their compliance one step further by setting up transaction monitoring with velocity rules and consulting with technical account managers to ensure they are building robust programs that ensure they have the proper setup in place. 

If you’re serious about maintaining compliance, SEON is the upgrade you need. 

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