Izengard Mind Map - Advanced Entity Resolution and Graph Analytics for Profiling and Anomaly Management
Izengard Mind Map is a containerized collection of scalable graph and other data stores in a data fabric / data map that supports several functions:
a) Entity Resolution – Resolves alias’ identities, different spellings, disambiguation of identities. Entities can be retail customer, corporate customers, financial intermediaries, vendors but also devices, employees. Where there are conflicting identities and UBO registers cannot help, these are flagged for further due diligence. Izengard’s consortium model will be able to help in time also with the resolution, especially if multiple identities and multiple forms of goverment IDs are being used.
b) Profiling – all of the entities and every action they do and who they participate in those actions with is kept from a historical perspective for the last 5 years on-line and in-memory, this greatly speeds up real time fraud and other cyber related crime detection.
c) Anomaly management – the Mind Map greatly aids the anomaly detection and all historical anomalies are stored with the profile, as these could indicate slowly evolving crime typologies.
Izengard’s mind maps are built using a combination of our data fabric / data mesh, our vault and graph technologies and only stores personally identifiable data which is encrypted.
Entity Resolution - works in conjunction with Izengard Customer Journey (KYC) and Izengard Embargoes (Sanctions, Adverse Media Screening, Name Screening) - pivotal to fraud, anti-money laundering and cyber-security and conduct risk investigations
Izengard Mind Map initially starts the KYC process via the Izengard Customer Journey, bringing in 3rd party data to validate the credentials and then immediately working with Izengard Embargoes to identify any PEPs, sanctions violations, adverse media and other high risk activities. By having common profiles, data sources and meeting multiple needs, Izengard Mind Map has a greater chance at resolving customers and knowing who they are really are or indicating suspicious indicators on ID.
Profiling - The link from entity resolution to fraud, cyber-security and money laundering
Izengard Mind Map continuously updates and utilization in real time by building a historical profile of every interaction with the customer (incl help desk/support calls) to help build richer data sets for fraud, cyber-security and money laundering. In fact, Izengard Device Detector shares it’s profile on customers with the Izengard Mind Map so a customer’s behavior is seen as a cohesive whole.
Izengard’s Mind Map has been extended to Know Your Counterparty, Know Your Transaction, Know Your Customers Customer, Know Your Financial Institution and Know Your Employee. With this depth in mind and the various data sources integrated into the product, Izengard brings in multiple risk indicators that enable the causal models to work for your organization and determine with a fairly high degree of explainability any detections that are deemed high risk. Izengard does this seamlessly behind the scenes by understanding triggers and invoking updates across the platform. Users are then informed and any pre-built escalations are then catered for including escalation to level 3 if needed.
Izengard Mind Map handles unknown unknowns during anomaly detection, if it doesn’t understand something and it looks very unusual based on the behavior of the entity, based on the entity-type (i.e customer, employee etc) it will escalate and alert a human to intervene and investigate. The appropriate resolution and mark up can then be updated in Izengard to help it learn it is/is not a suspicious event.