Costa Mesa, Calif. – (September 20, 2024) – Experian’s Sentinel™ Commercial Entity Fraud Suite received a silver medal for "Best Know Your Customer/Business (KYC/KYB) Innovation" in the 2024 Impact Awards in AML (anti-money laundering).

The award was given by Datos Insights, a global advisory firm providing mission-critical insights to the Financial Services industry. The Sentinel suite addresses complex challenges that inhibit financial institutions’ capability to safely capture new business while limiting fraud exposure.

Leveraging Experian's more than 250 million consumer files and more than 28 million business records, as well as advanced analytics and machine learning techniques, the suite delivers comprehensive fraud detection, greater operational efficiency, flexible risk assessment and decisioning, and improved customer experiences.

“Given the AI-driven acceleration of fraud attacks, coupled with the lightning-fast speed of simply doing business in a highly competitive digital marketplace, lenders need a solution that delivers single, actionable pass-fail insights in real-time to help them make informed decisions quickly and efficiently,” said Brian Bond, Senior Vice President of Experian’s Business Information Services (BIS).

“Sentinel works with our Precise ID and CrossCore platforms to offer KYC and KYB verification at unrivaled speed, and we deeply appreciate Datos Insights’ recognition of the value that the suite offers to our customers.”

Datos Insights defined this category as featuring new solutions, innovations, or data sets that streamline and enrich the KYC/KYB processes underlying the onboarding, servicing, ongoing risk profiling, and due diligence of individual and corporate customers.

In this context, Sentinel is bridging the gap between business and owner verification to create a seamless onboarding experience that helps lenders and creditors grow without fear.

“The financial crime landscape continues to evolve rapidly, with criminals employing increasingly sophisticated techniques to evade detection. Traditional approaches to fraud prevention and AML compliance are often insufficient to keep pace with these evolving threats,” said Chuck Subrt, Fraud & AML Practice Director at Datos Insights.

“In response to these challenges, the industry is seeking innovative tools and solutions that can streamline processes, reduce false positives, uncover hidden risks, and provide more comprehensive and accurate risk coverage.”

Datos Insights found “Experian's commitment to ongoing innovation suggests that Sentinel will continue to evolve and address emerging industry needs. The results reported by clients using Sentinel Suite are impressive, with considerable improvements in fraud detection rates, accuracy, and operational efficiency. These realized benefits, combined with its promise to elevate regulatory compliance and customer experience, make it an effective tool for FIs looking to enhance their risk management capabilities.”

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