Eight Reasons Why Search Engines Are Not Due Diligence

More from: | Finextra |

Search engines are free, easy to use and powerful. Could you use them to run a KYC/AML screening program? You could – but in the end, it will expose you to significantly more cost and risk than opting for a purpose-build solution. Here are eight reasons why.

1. Data from Search Engines is Unstructured 

Search engines return stories and URL links, when what you ideally need are consolidated profiles, with secondary identifiers such as age, location and connections organized for easy review. Sometimes, you’ll need content from multiple stories to make an onboarding decision.

 2. Search is Inefficient

First, you get pages and pages of results, many of which are not relevant. Second, there’s a lot of duplication, since high-priority


Read full article » https://www.finextra.com/blogposting/16129/eight-reasons-why-search-engines-are-not-due-diligence?utm_medium=rss&utm_source=finextrafeed

About | Finextra |

Finextra is the leading independent newswire and information source for the worldwide financial technology community.

Finextra covers all significant technology news in wholesale and retail banking, the capital markets and insurance. Finextra also publishes a wide range of research articles, features, white papers and case studies.

»Twitter: @finextra »Linkedin: finextra