Risk Data Navigation Graphs for Rapid Compliance Investigation
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Solution Overview
Problem
Existing systems are inadequate in providing a cogent and quick representation of financial, trade, and business-related risks, particularly in the context of complex regulations and global security threats, and lack efficient tools for risk evaluation and investigation.
Innovation Solution
A computer-implemented system featuring a database, risk propagation engine, and visual interactive graphical interface that allows users to build and traverse risk graphs, dynamically propagate risk categories, and display exposure scores, enabling rapid discovery and recognition of risk relationships.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Productivity
If existing systems are used to monitor and investigate financial crime risks, then basic risk monitoring can be performed, but the systems are inadequate in providing cogent and quick representation of risk, and lack efficient investigation tools for evaluating risk categories
Solution Approach 1:
The system segments risk evaluation into distinct risk categories (e.g., financial crime, sanctions, trade controls) that can be independently analyzed and evaluated. Each risk category can be investigated separately through the graphical interface, allowing users to focus on specific risk types without being overwhelmed by the entire risk landscape.
Solution Approach 2:
The system transforms risk data into a visual graphical representation with nodes and edges, adding a spatial dimension to risk analysis. This visual dimension enables users to quickly perceive risk relationships and patterns that would be difficult to identify in traditional tabular or textual formats, significantly improving risk representation clarity.
2Reliability
If comprehensive risk data is collected and analyzed, then complete risk assessment can be achieved, but the tremendous amount of information makes understanding and assessing relevant parts difficult
Solution Approach 1:
The system extracts and highlights only the relevant risk information from the comprehensive data set based on user-selected risk categories and relationships. The graphical interface allows users to focus on specific nodes and edges that are pertinent to their investigation, effectively filtering out irrelevant information while maintaining complete risk assessment capability.
Solution Approach 2:
Different parts of the risk graph can be displayed with different levels of detail and visual prominence based on their relevance to the selected risk category. The system applies local quality by emphasizing critical risk nodes and relationships while de-emphasizing less relevant data, enabling users to understand relevant parts without being overwhelmed by the entire data set.
3Productivity
If traditional risk monitoring systems are used, then basic regulatory compliance can be maintained, but the efficiency in providing services and integrating algorithms to surface germane relationships is inadequate
Solution Approach 1:
The system integrates multiple risk monitoring functions and algorithms into a single unified platform that can handle various risk categories (financial crime, sanctions, trade controls) through a common graphical interface. This multi-functional approach improves service delivery efficiency by eliminating the need for separate systems for each risk type while managing complexity through standardized processing mechanisms.
Data Source
AI summary
A computer implemented system, method, or computer readable medium for providing a interactive digital tool that permits users to investigate and evaluate financial, trade, and business-related risks. The system, method, or computer readable medium can be configured to include a software engine that identifies risk subgraphs or other subgraph features in accordance with automated traversal based on a set of rules.