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Dow Jones debuts AI-enabled risk screening tool
ASAM enables faster, more efficient high-volume third-party management, compliance
The Asset 19 Sep 2023

Dow Jones’ risk and compliance division has launched RiskCenter Advanced Screening and Monitoring (ASAM), an advanced artificial intelligence (AI)-powered solution for financial crime and third-party risk management.

ASAM uses risk data, cutting-edge machine-learning and AI technologies to optimize anti-money laundering, sanctions and anti-corruption compliance.

Designed with regulatory guidance in mind, ASAM, the company says, brings greater transparency to risk management workflows, enabling financial institutions and corporations to screen customers and third parties at speed and scale, with the results based on information and insights from premium, licensed publications. 

Powered by Ripjar’s sophisticated machine-learning technology, ASAM surfaces information from multiple data sources, including Dow Jones’ structured risk data and unstructured text from thousands of trusted, licensed news sources in the Factiva business intelligence platform.

The flexible, scalable solution can screen against hundreds of millions of names at a time, reducing the time to complete adverse media checks while also decreasing the occurrence of false positives that waste valuable time and resources.

The company, it points out, will expand its suite of compliance-ready, AI-powered risk management tools over the next 12 months as it continues to invest in advanced and generative AI automation for the compliance sector.

“As the legislative landscape becomes increasingly complex, organizations need to be able to identify and evaluate risk quickly and effectively,” adds Joel Lange, the company’s general manager of risk and research. “By augmenting our deep domain expertise with emerging AI technologies, we aim to empower our customers with the tools and information they need to stay one step ahead of illicit activities and make faster, smarter risk-based decisions.”

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