How does SEON AML Screening compare to Ongoing Monitoring?

SEON AML Screening provides comprehensive tools to help organizations comply with anti-money laundering (AML) regulations. The platform enables real-time screening of customers and transactions against global sanctions lists, politically exposed persons (PEP) databases, and adverse media sources.

With intelligent matching algorithms and customizable workflows, SEON AML Screening minimizes false positives and enhances operational efficiency. The solution integrates seamlessly with compliance systems, enabling businesses to identify risks, maintain regulatory adherence, and safeguard their reputation.

ComplyAdvantage's Ongoing Monitoring solution provides continuous oversight of customers, transactions, and business relationships to detect emerging risks. This solution automates the monitoring process, ensuring that businesses remain informed of changes in risk profiles without the need for manual intervention.

The platform uses real-time data updates from global sanctions lists, politically exposed persons (PEP) databases, and adverse media sources to ensure comprehensive coverage. Organizations receive instant alerts when a monitored entity is flagged, enabling timely action to mitigate potential risks. Customizable settings allow businesses to focus monitoring efforts on high-risk areas, optimizing resource allocation.

With robust reporting capabilities and audit trails, ComplyAdvantage's Ongoing Monitoring solution supports compliance efforts and helps organizations maintain a proactive approach to risk management.

• 🏆 Ranked - Contender by IDC (2024)

SEON is a fraud prevention company specialising in providing online businesses with tools to detect and prevent fraudulent activities in real-time. Founded in 2017 by Tamas Kadar and Bence Jendruszak, the company emerged from their firsthand experiences with fraud in the cryptocurrency sector, leading them to develop solutions that integrate machine learning and human intelligence to combat online fraud.

SEON's platform offers digital footprint analysis, device intelligence, and a customizable AI-driven rules engine. These tools enable businesses across various sectors—including fintech, e-commerce, payments, and gaming—to proactively identify and mitigate potential threats. The company's solutions are designed for rapid integration, allowing businesses to implement fraud prevention measures swiftly.

As of 2024, SEON has expanded its global presence with offices in London, Austin, Budapest, and Jakarta, supporting over 5,000 businesses worldwide. The company has been instrumental in preventing over $200 billion in fraud-related losses and conducts more than 12 million fraud checks daily.

In April 2022, SEON raised $94 million in a Series B funding round led by Silicon Valley-based IVP, with participation from existing investors Creandum and PortfoLion. This funding has supported the company's expansion into new markets, including North America, Latin America, and the Asia-Pacific region, and has facilitated the enhancement of its product offerings.

SEON's client portfolio includes notable companies such as Revolut, NuBank, Afterpay, Patreon, Sorare, and Mollie, reflecting its position as a trusted partner in fraud prevention for leading fintech and digital businesses.

ComplyAdvantage, founded in 2014, is a RegTech company that specializes in providing AI-driven financial crime risk detection and anti-money laundering (AML) solutions. ComplyAdvantage leverages artificial intelligence, machine learning, and natural language processing to offer real-time risk insights and AML data solutions.

The company provides a range of services, covering:

- AML onboarding and monitoring
- Transaction monitoring
- Payment screening
- Politically exposed persons (PEPs) and adverse media screening
- Real-time sanctions and watchlist screening

ComplyAdvantage has experienced significant growth since its inception, raising $88.2 million through three rounds of venture capital funding and expansion of its operations with offices in the United States, Singapore, and Romania. The company serves over 1,600 businesses across the globe, including major financial institutions like Santander and Affirm, and clients have reported a 70% reduction in false positives and a 50% decrease in onboarding cycle time.