Thomson Reuters, a global content and technology company, and WorkFusion, a leading provider of AI digital workforce solutions, announced a partnership to help U.S. organizations prevent fraud and more effectively uncover and manage hidden risks.
Amplified by today’s global events, businesses face heightened pressure to understand the parties with whom they are doing business and assess the suitability of those relationships. Thomson Reuters and WorkFusion are collaborating to provide businesses with industry-leading data combined with cutting-edge automation and AI technology. The collaboration brings two market-leading products together, CLEAR – Thomson Reuters investigative solution – with WorkFusion’s AI Digital Worker, Evelyn, an AI-powered adverse media and sanctions screening alert review analyst. The combined offering reveals whether parties of interest are featured negatively in news articles and/or are included on lists covering sanctions, Politically Exposed Persons (PEPs), or State-Owned Entities (SOEs).
Adverse media monitoring and sanctions screening have been highly manual, expensive, and time-consuming tasks, plagued with high volumes of false positives. This joint offering assists financial institutions, manufacturing companies and software & technology organizations by automating screening, reducing false positive alerts, and continuously evaluating their entire customer base. It provides greater visibility and monitoring of potential risks with current and prospective customers, vendors and counterparties.
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“We are delighted to partner with Thomson Reuters to amplify the power of Thomson Reuters market-leading adverse media and sanctions data with our AI Digital Worker, Evelyn, an AI-powered adverse media and sanctions screening alert review analyst,” said Adam Famularo, CEO of WorkFusion. “Organizations that have implemented Evelyn have seen more than 80% reduction in false positives requiring manual review, and 400% increase in screened subjects of interest without added headcount. It improves the customer experience during onboarding and ongoing account management and provides 3-5x ROI while also satisfying regulators’ expectations.”
“Reputational risks to businesses and pressure from regulators are increasing every day,” said Dori Buckethal, vice president, Thomson Reuters Risk & Fraud Solutions. “Timely, reliable and actionable alerts are essential. This exciting combination of WorkFusion’s AI Digital Worker and Thomson Reuters data means businesses can have greater confidence about the parties with whom they are doing business, and be alerted when situations change. This partnership combining our trusted data insights with WorkFusion‘s cutting-edge AI automation technology sets a new standard for efficiency and task automation. With this powerful combination, businesses can significantly boost their teams’ productivity and achieve new heights of risk management excellence.”
SOURCE: PRNewswire
