William Hill adds AI technology to KYC process
London-listed firm partners with Accuity to streamline and improve customer screening procedure
William Hill has partnered with financial crime screening service Accuity to deploy AI capabilities for its KYC and customer onboarding process.
Hills will tap into Accuity’s Firco Insights platform to rapidly screen customers and flag high-risk individuals.
The platform combines account screening intelligence and a scoring system to produce alerts according to the severity of the risk an individual poses.
The technology will also allow Hills to reduce false positive screening matches from an industry average of between 10% and 15% to less than 1%. Accuity’s technology is predominantly used by financial institutions and the partnership with Hills marks the first in the online gaming industry.
Steven Armstrong, William Hill director of AML, said: “William Hill is always proactively looking for new ways to increase efficiency and enhance the experience of our customers.
“Following a successful proof of concept, we could see that working with Accuity and investing in this technology would help us achieve greater financial crime screening accuracy, without adding to our manual workload.
“AI technology will never replace AML decision making, but it can certainly improve it. By minimising false positives, we will be able to reallocate resources, rather than managing an excess of false-positive flags,” he added.
David Wilson, Accuity CEO, commented: “We are very proud of this project that marks a significant milestone for William Hill, Accuity, and the gaming industry. By utilising entity resolution filtering and AI techniques to form an explainable, safe and high-performance screening program, William Hill will achieve the same exceptionally high standards as the world’s largest banks.”