Pascal

What is Pascal?

Pascal is a compliance support platform designed for staff in financial services companies, primarily used for Know Your Customer (KYC) and Customer Due Diligence (CDD) processes. It utilizes AI models to analyze open-source and client-specific data using AI, machine learning, and Natural Language Processing techniques. Pascal simplifies client onboarding processes, offers real-time alerts for risk monitoring, reduces false positives, and adapts to changing laws and regulations. The tool features an intuitive user interface, collaborative capabilities, and ensures transparency through detailed logging of searches and decisions.

Who created Pascal?

Pascal, a compliance support platform designed for staff in financial services, was created by Vartion, a Dutch software development company specializing in data analytics. Founded in 2018, Vartion focuses on leveraging AI and ML to complement human intelligence. Pascal was launched on June 2, 2022, and is lauded for simplifying KYC and CDD processes through AI, machine learning, and Natural Language Processing. It aims to streamline processes, reduce false positives, and facilitate collaboration within organizations.

What is Pascal used for?

• KYC (Know Your Customer) processes
• CDD (Customer Due Diligence) processes
• Screening potential clients and business partners in and outside the financial sector
• Analyzing a range of open-source data and client-specific data using AI, machine learning, and NLP techniques
• Simplifying and expediting client onboarding processes
• Continuous monitoring for real-time alerts on risks or issues
• Reducing false positives and providing accurate relevance predictions
• Collaboration between client-facing staff, compliance managers, and external auditors
• Creating audit trails for transparency and assurance in screening procedures
• Streamlining compliance management processes and facilitating decision-making
• Know Your Customer (KYC) processes in financial services companies
• Customer Due Diligence (CDD) processes in financial services companies
• Screening potential clients and business partners in the financial sector
• Analyzing open-source data and client-specific data using AI, machine learning, and Natural Language Processing techniques
• Providing real-time alerts for risks or issues
• Reducing false positives in compliance screening
• Ensuring transparency through complete audit trails
• Facilitating collaboration among stakeholders like client-facing staff and compliance managers
• Continuous monitoring to keep organizations up-to-date with clients or third parties
• Improving decision-making processes
• Know Your Customer (KYC) processes
• Customer Due Diligence (CDD) processes
• Screening potential clients and business partners
• Real-time alerts for risks and issues
• Continuous monitoring for clients and third parties
• Reducing false positives in risk assessment
• Compliance management simplification
• Effortless collaboration among stakeholders
• Full transparency with audit trails
• Analyzing adverse media in various languages
• Automating client onboarding processes
• Continuous monitoring for real-time alerts
• Reducing false positives
• Simplifying compliance management
• Facilitating collaboration within organizations
• Ensuring transparency with complete audit trails

Who is Pascal for?

• Compliance Managers
• Client-Facing Staff
• External Auditors
• Legal and Compliance Experts
• Compliance Officers
• Financial Professionals
• Financial services professionals

How to use Pascal?

To effectively use Pascal, follow these steps:

1. Understanding the Purpose: Pascal is a compliance support platform primarily used for Know Your Customer (KYC) and Customer Due Diligence (CDD) processes in financial services companies.

2. AI Models and Data Analysis: Pascal utilizes AI, machine learning, and Natural Language Processing techniques to analyze open-source and client-specific data, simplifying adverse media interpretation in various languages.

3. Client Onboarding: One key benefit of Pascal is its ability to streamline and expedite client onboarding processes by automating tasks and providing clear insights efficiently.

4. Continuous Monitoring: Pascal offers real-time alerts and continuous monitoring to keep organizations updated on risks and issues related to clients or third parties.

5. Reducing False Positives: The tool focuses on minimizing false positives, providing more accurate relevance predictions through AI-based techniques and self-learning capabilities.

6. User Interface and Collaboration: Pascal features an intuitive user interface for simplified compliance management and seamless collaboration among different stakeholders.

7. Transparency and Audit Trail: Every search and decision made on Pascal is logged, ensuring transparency and providing a complete audit trail for compliance managers and auditors.

8. Cost-Efficiency and Flexibility: Pascal is offered as a Software-as-a-Service solution, allowing users to pay per case based on the desired level of resources and monitoring frequency.

9. Training and Support: Pascal is easy to install and implement, with training provided for the compliance department. Online and human assistance is available during operations.

10. Evolution and Accuracy: Pascal evolves alongside changing laws and regulations, delivering increasingly accurate results and efficient compliance management.

By following these steps, users can effectively leverage Pascal for compliance management in financial services institutions.