Babel Street and IMTF Partner to Deliver Advanced Multi-Lingual Name Screening for Enhanced Global Compliance and Financial Crime Prevention

November 21, 2024 08:00 AM Eastern Standard Time--WASHINGTON--Babel Street, a leader in advanced AI, data, and analytics for global information intelligence, and IMTF, a leading global provider of anti-financial crime compliance solutions, have announced a strategic partnership to introduce enhanced multi-lingual name screening capabilities within IMTF's Siron®One platform. This collaboration addresses the growing demand for accurate, efficient name matching across diverse languages and scripts, helping financial institutions and businesses meet increasingly complex international Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations.

“We are excited to partner with IMTF to deliver a solution that not only meets current regulatory demands but also equips financial institutions for the future of compliance.”

As financial institutions increasingly leverage global digital channels, precise identity verification is essential for regulatory compliance and financial crime prevention. Babel Street Match technology, combined with the Siron®One end-to-end compliance platform, enables precise, efficient, and explainable name matching across over 24 languages and scripts, including regions like the Middle East and Asia-Pacific. This comprehensive solution strengthens verification processes, provides transparency, reduces false positives, and streamlines workflows, empowering institutions to better detect and prevent financial crime while ensuring compliance with international regulations.

“We’re dedicated to providing our clients worldwide with reliable, innovative compliance solutions,” said Dr. Sebastian Hetzler, co-CEO of IMTF. “By integrating Babel Street’s AI-driven Match technology, we are enhancing our international clients' compliance capabilities, particularly in regions with diverse naming conventions like the Middle East and APJ. This powerful add-on will enable them to confidently verify identities across languages and scripts with precision, reduce false positives, and streamline compliance workflows globally.”

The partnership comes at a critical time as financial institutions face mounting pressures to strengthen their compliance practices and demonstrate the efficacy of their regulatory adherence. With rising regulatory expectations, institutions must balance rigorous oversight with operational efficiency – a balance this partnership is designed to deliver.

"We are seeing a shift in what is expected from regulators in compliance solutions, and as new regulations continue to be put in place, the ability to quickly adapt to meet evolving requirements is critical for RegTech solution providers," said John Weaver, Chief Strategy Officer at Babel Street. “We are excited to partner with IMTF to deliver a solution that not only meets current regulatory demands but also equips financial institutions for the future of compliance."

The collaboration between Babel Street and IMTF marks a significant advancement in name-matching technology, offering a sophisticated yet user-friendly solution that empowers businesses to stay ahead of the curve and confidently navigate the requirements and complexities of global regulatory compliance.

About Babel Street

Babel Street empowers organizations to make confident, informed decisions through advanced data and analytics, delivering global information intelligence. Our AI-driven technology supports critical use cases, including investigations, government screening & insider threat, supply chain risk management, AML/KYC, and decision intelligence. Babel Street solutions help defense, intelligence, law enforcement, and commercial organizations close the Risk-Confidence Gap by uncovering threats, reducing risk, and improving strategic decisions. Babel Street is headquartered in the U.S., with an established presence in Australia, Canada, Israel, Japan, and the U.K. For more information, visit babelstreet.com.

About IMTF

The IMTF Group is a global leader in integrated compliance software solutions to effectively combat financial crime. With its cutting-edge Siron®One platform, IMTF offers an innovative, comprehensive and modular approach across the entire customer lifecycle: from Digital Onboarding and KYC to AML transaction monitoring, fraud detection, and more, Siron®One is designed to meet the evolving challenges of today's financial landscape by enabling data-driven, real-time, AI-powered decisions.

Headquartered in Switzerland, with subsidiaries in Europe, the Middle East and Asia-Pacific regions, IMTF’s financial crime specialists serve over 1,500 customers worldwide, offering Swiss excellence with a global outlook.

Contacts

Media Contact:

Erin Lutz
Lutz Public Relations and Marketing (for Babel Street)
949.293.1055
erin@lutzpr.com