Table of contents

What's new and changed in Financial Crimes Insight

Financial Crimes Insight® updates can include new features, bug fixes, and security updates. Updates are listed in reverse chronological order so that the latest release is at the top.

You can see a list of the new features for the platform and all of the services at What's new in IBM Cloud Pak for Data?

April 2021 refresh of Cloud Pak for Data Version 3.5.0

A new version of Financial Crimes Insight was released in April 2021.

Assembly version: 6.6.0

This release includes the following changes:

New features
Financial Crimes Insight is now available on IBM Cloud Pak for Data 3.5.
The Financial Crimes Insight offering includes the following components:
IBM Financial Crimes Insight
Financial Crimes Insight combines AI, big data, and automation with input from regulatory experts to make it easier to detect and mitigate financial crimes.

Install the base offering, Financial Crimes Insight, to proactively detect, intercept, and prevent attempted fraud and financial crimes.

After installing the base offering, you can install one or more of the optional components that support your use case.

This release of Financial Crimes Insight includes added support for related cases in the network graph.

In addition, Financial Crimes Insight has adopted Carbon, IBM's open source design system for digital products and experiences. Carbon makes it easier for you to know exactly how the interface will behave and makes Financial Crimes Insight feel like other services in IBM Cloud Pak for Data.

IBM Financial Crimes Insight for Claims Fraud
This component helps you deter, prevent, and intercept multiple types of insurance fraud. IBM Financial Crimes Insight for Claims Fraud enables you to improve detection processes and decision making, expand the observation space within the institution, speed investigations, and achieve faster claims resolution for customers.
This release of IBM Financial Crimes Insight for Claims Fraud includes:
  • Added support for integration with the National Insurance Crime Bureau (NICB)
  • New user interface functionality to perform watchlist maintenance
IBM Financial Crimes Insight for Entity Research
This component enables your organization to improve the customer experience throughout the customer lifecycle, from on-boarding through periodic review, by streamlining and automating Know Your Customer (KYC), and customer due diligence (CDD) compliance process. By augmenting existing systems instead of replacing them, financial institutions can take advantage of AI, automation and modern capabilities while realizing a faster time to value.
This release of IBM Financial Crimes Insight for Entity Research includes:
  • A new API for monitoring material data changes from both structured and unstructured data sources, including API Orchestration framework
  • Improved Negative News analytics, including the grouping model
  • Added save and dismiss decision updates for improved audit log enhancements
IBM Financial Crimes Insight for Alert Triage - Transaction List Screening
This component augments existing sanctions screening systems by analyzing alerted transactions using a configurable and extendable API-driven pipeline. Transaction data is cleaned, parsed, and wrangled, then processed through heuristics and cognitive computing techniques. The results are used to score hits, identify false positives, and return informative, customizable insights.
Bug fixes
This release includes a fix for Financial Crimes Insight for Claims Fraud:
  • Updated Worker's Comp Analytics for more accurate risk scoring

Security fixes

This release includes security improvements and fixes for Financial Crimes Insight for Entity Research.