New cognitive computing monitoring module flags risk-related events to empower real-time due diligence
Toronto, Canada, May 10, 2016 – Organizations can now receive real-time, continuous updates on risk-related events to further inform and affect critical due diligence processes. OutsideIQ, the leader in investigative cognitive computing, today launched a monitoring module for its DDIQ® product, which monitors the open web to discover risk events on a continuous basis, alerting compliance and due diligence professionals to any changes in a target profile on a daily basis. Any negative events found by the cognitive engine will be highlighted on the DDIQ Monitoring dashboard, where the risks can be assessed and adjudicated.
Built on an advanced cognitive computing platform, the DDIQ internet monitoring module has been trained to think and act like an investigator to reduce noise and prevent false positives. This allows DDIQ users to receive accurate, relevant updates, rather than reviewing a full report whenever they want to have the latest information.
“The DDIQ monitoring module is more than just an early warning system for banks, corporations and investment firms looking to continually evaluate the most up-to-date risk information available; it is also an incredible efficiency tool,” said Dan Adamson, Founder and CEO, OutsideIQ. “In today’s regulatory environment, it is critical to assess potential risk issues on an ongoing basis to meet today’s high compliance standards, but those processes need to be sustainable.”
Developed in partnership with Exiger, the global regulatory and financial crime, risk and compliance firm, DDIQ is an automated solution which searches regulatory databases, open web and premium structured content, following the same investigative process as human researchers. Capable of producing a complete profile of company and individual subjects in just minutes, DDIQ allows compliance professionals to focus their energy on higher-value activities such as subjective risk assessment and reports of summary findings.
“Effective due diligence in the current regulatory environment requires comprehensive investigative capabilities supported by proactive monitoring that allows compliance professionals to quickly act on emerging issues,” said Noah Zaltz, Vice President, Strategy & Business Development, Exiger. “The DDIQ monitoring module combines the peace of mind of a full-time monitoring operation with the practicality of an automated solution that can quickly cut through the noise to provide critical information.”
OutsideIQ is the leader in investigative cognitive computing. OutsideIQ brings together some of the world’s foremost experts on search with the best data scientists, big data professionals and software engineers to solve the complex problems of search for due diligence. Leveraging a proprietary approach to research that combines automated data discovery with the data interpretation abilities that emulate a human researcher, OutsideIQ is changing the way companies vet their customers and handle their complex compliance requirements. OutsideIQ is based out of Toronto, Canada.