Compare SEON vs LSEG Risk Intelligence

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 LSEG 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 LSEG side-by-side. We’ll go into further detail for each of the key capabilities below. 

Why Choose SEON over LSEG

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, LSEG could get the job done. 

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. 

The key differences lay in the customization and extra data points provided by SEON. For example, with custom rules, you can set up PEP tiers to automatically decline, approve and review alerts, utilize advanced AI to automate checks and utilize extra data to close out cases faster.

SEON vs LSEG

• SEON: Tailored screening and monitoring

• LSEG: Screening and 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. 

While point solutions like LSEG help meet AML compliance check requirements, SEON offers a comprehensive fraud and money laundering prevention solution. It ensures the safety of your customers’ entire journey, offering a sense of security as your business expands.

With a holistic solution that covers the entire customer journey, you can gain a more nuanced and context-rich view of your customers by cross-checking AML information against thousands of fraud data points associated with each person. This consolidated, real-time view enhances risk decision-making by enabling analysts to use thousands of data points to connect the dots so they can close out alerts faster. 

This integration of AML screening, digital footprint analysis, and device intelligence facilitates a streamlined KYC process. It significantly accelerates customer onboarding, slashing manual review times and thereby reducing customer friction.

SEON vs LSEG 

• SEON: Complete fraud and money laundering prevention solution 

• LSEG: AML screening and monitoring solution

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

SEON places significant emphasis on the user interface aspect, with the intention of creating a platform that is not only functional but also user-friendly and intuitive. The architectural framework and design choices have been meticulously aligned to ensure that the graphical user interface (GUI) is not an afterthought but a fundamental component of the product. This approach aims to facilitate ease of use, enhancing the speed of closing out cases and the efficiency of teams.

Conversely, LSEG functions primarily as a point solution database. Opting for a more comprehensive platform that includes a graphical user interface incurs additional costs, which could accumulate significantly over time. One inherent issue with relying solely on a database is the potential delay in uploading and resolving cases. Such delays can stem from the database’s limited capacity for rapid, user-friendly interaction, particularly if it lacks advanced data analytics features. This inefficiency can consume significant amounts of your fraud team’s time, potentially leading to increased customer friction. Without the supplementary data and tools that a more integrated platform might offer, there’s a risk that the team’s effectiveness and customer satisfaction could be compromised.

SEON vs LSEG

• SEON: Modular API, plus graphic user interface

• LSEG: Database

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 LSEG doesn’t, making it the clear winner.

Manual reviews are necessary in AML processes but are also time-consuming. It’s crucial to minimize the time analysts spend on these reviews by reducing false positives. Implementing a system with machine learning and customizable rule capabilities allows you to align with your risk tolerance. Such a system uses an AI-powered rules engine to detect patterns, enabling you to tailor your AML screening and transaction monitoring processes.

Legacy systems such as LSEG don’t tend to implement AI, whilst SEON’s AML solution sets itself apart from LSEG with its unique incorporation of machine learning. This innovative approach significantly reduces the time needed for manual reviews. Our solution offers both Whitebox and Blackbox machine learning options, providing you with a range of control and automation. With Whitebox ML, you have control over the risk management process and receive recommendations for custom rules. Our Blackbox ML offers fully automated risk decision-making for those seeking a more hands-off approach. By leveraging both models, you can make rapid, precise, and manageable risk decisions, empowering you to create custom rules and minimize false positives.

SEON vs LSEG

• SEON: Machine Learning to automate review and risk scoring and reduce false positives

• LSEG: No Machine learning

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, LSEG 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 LSEG’s offering to its full potential, particularly in complex scenarios requiring nuanced understanding.

SEON vs LSEG

• SEON: Dedicated Technical Account Management

• LSEG: No technical account management

The Final Word On SEON vs LSEG

SEON offers a comprehensive platform with an intuitive layout and transaction monitoring capabilities essential for complying with AML requirements. It provides a system for monitoring customer transactions such as transfers, deposits, and withdrawals to identify potential financial crimes. This process is enhanced by SEON’s focus on user-friendly design, which contrasts with LSEG’s primary function as a database, potentially leading to inefficiencies in case resolution and increased customer friction due to increased fraud teams’ time closing out cases.

SEON stands out by offering a complete fraud and AML solution that integrates AML screening, digital footprint analysis, and device intelligence, enabling faster customer onboarding and reduced manual review times. Unlike LSEG, which does not incorporate machine learning, SEON utilizes AI to improve AML detection accuracy, reduce false positives, and offer customizable risk management options, thereby streamlining the fraud detection process and enhancing overall efficiency, making it the clear choice