ERGO fights money laundering and terrorist financing using ... fuzzy logic

ERGO Insurance is a mid-sized Benelux insurer who needs to meet the same ever-growing international and national regulations as their much larger competitors. This puts a heavy burden on the relatively small team, which could only be alleviated using the right technology.

ERGO Insurance selected SAS to help them perform the tedious daily task of checking every contract against extensive blacklists of suspicious individuals and organizations, in order to comply with the national and EU regulations concerning money laundering and terrorist financing.

The choice for SAS was, among others, inspired by how well SAS’ software could handle fuzzy logic: it reports matches between non-identical but textually, phonetically or numerically similar data records, including an assessment of the probability or quality of the match. This helps generate a reliable list of matches without showing too many false positives.

Read here how SAS and ERGO managed to install and finetune a solution which can deal with the extensive databases on a daily basis, “an impressive feat as well as a reassuring thought”.