Scalable, Trie-based Approximate Entity Extraction for Real-Time Financial Transaction Screening

Authors: Emrah Budur

Abstract: Financial institutions have to screen their transactions to ensure that they are not affiliated with terrorism entities. Developing appropriate solutions to detect such affiliations precisely while avoiding any kind of interruption to large amount of legitimate transactions is essential. In this paper, we present building blocks of a scalable solution that may help financial institutions to build their own software to extract terrorism entities out of both structured and unstructured financial messages in real time and with approximate similarity matching approach.

Submitted to arXiv on 12 Jan. 2017

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