IBA Group Introduces Visual Analysis Studio in Ukraine

In Ukraine, IBA Group and YouControl, a Kiev-based company, implemented Visual Analysis Studio (VAS), a new solution that detects problematic customers or counterparties prior to cooperating with them.

VAS identifies direct and indirect interactions between existing or potential counterparties based on closed internal sources of the user, including customer and counterparty data, debtors’ lists, unreliable partners, and credit score. Employees no longer need to collect, aggregate, and analyze corporate data manually. As a result, the user sees complex interconnections in a graphic form.

IBA Group's Visual Analysis Studio

Data from the closed sources is compared with the data from the Ukrainian public registers. YouScore, an analytical system developed by YouControl, provides data retrieval. It collects the information relevant at the time of the request from more than 50 governmental registers and compiles a profile for a relevant company or an individual in Ukraine. To date, the system includes 4.5 million enterprise and individual registration information, more than 60 million court documents, and 300 thousand licenses and permits.

YouScore data is submitted to VAS via API. In January 2019, IBA Group and YouScore completed the integration and signed a memorandum of cooperation to consolidate the agreements on paper and jointly promote the solution in the Ukrainian market.

Sergei Milman, CEO at YouScore, says: “The IBA Group’s mission is to effect change and improve business performance for its clients through the use of advanced information technologies. For the Ukrainian business, it is extremely important to introduce modern technological solutions to avoid cooperation with unreliable counterparties. We are happy to combine YouControl’s work on identifying links with Visual Analysis Studio. It will strengthen both products and provide Ukrainian companies with a truly unique tool.”

Sergii Barbara, General Manager at IBA Ukraine, adds: “Cooperation in the field of multifactor analysis of versatile data in order to identify financial fraud and corruption schemes is under active development in our country. This is caused by requirements of Ukrainian laws, as well as by the society digitalization trend that has become an integral reality of our life, especially in the field of organization of online services analysis and verification of business entities. ”

Visual Analysis Studio is an IBA Group solution designed for identification of fraud schemes. It analyzes and visualizes explicit and implicit connections between owners, relatives, and other stakeholders, as well as organizations, to investigate the involvement in suspicious financial transactions. The solution is designed for compliance control bank divisions that counteract the legalization of proceeds from crime. VAS is also suitable for the security services of private organizations that monitor the prevention of bribery and corruption. Using VAS, insurance companies can see implicit connections when investigating cases of fraud and telecom operators are be able to detect the theft of long-distance traffic.

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