support@velocity.com

Velocity Entity Resolution: The smartest data solution for financial institutions

The foundation of any financial institution is accurate data that improves efficiency, boosts productivity, and drives business growth. And, a minor mistake can cost a lot to the company. One of the biggest challenges that financial institutions face is to derive valuable insights and business-oriented from the large volumes of data. Also, with data spread across multiple platforms, it becomes difficult to get a comprehensive single view. And here Velocity’s ER model comes into the picture.

Velocity’s ER model lets you:

Velocity simplifies Entity Resolution (ER) by unifying fragmented customer data across systems into a single, accurate profile.
It detects hidden connections between entities, enabling banks to uncover complex risk relationships.
With AI-driven matching and deduplication, Velocity reduces false positives and improves operational efficiency.
This empowers analysts to make faster, more confident decisions in KYC, AML, and fraud investigations.

The ER process consists of these steps

Input
  • Data Normalization:Cleaning and standardizing data from multiple sources to ensure accuracy and consistency.
  • Feature Extraction:Identifying key attributes and common patterns across records for matching and blocking.
Process
  • Record Matching: Comparing entities using advanced algorithms to create candidate pairs and detect potential duplicates.
  • Scoring & Evaluation: Assigning match scores based on similarity metrics and configurable thresholds.
Output
  • Resolved Entities: Generating unique, verified entity records that consolidate data from multiple sources.

Benefits

Scalable and reliable
Allows you to scale to the largest possible data and ensures data accuracy.
Make faster and more accurate business decisions
Less time-consuming and improves the decision-making process.
Prevent multiple alerts and ensure data quality
Deduplicate the data and ensure that it meets the highest accuracy standards.
Eliminates risks
Reveals high risks and promotes growth opportunities.
Velocity’s ER Model helps financial institutions reduce false positives, sharpen fraud detection, and meet compliance standards with confidence.

FAQs

Can Velocity entity resolution software handle large and complex datasets, including unstructured data, to provide accurate entity matching and resolution?

Yes, Velocity Entity resolution software is designed to handle large and complex datasets, including unstructured data to generate accurate results. The software is highly scalable and is built to handle massive datasets while ensuring optimal performance and accuracy. In addition to that, it uses the advanced matching algorithm to handle complex datasets. These algorithms consider various attributes and characteristics of entities, such as names, addresses, phone numbers, and relationships, to identify potential matches accurately.