Fuzzy Match | Name-Matching Algorithms | Patented Solution from Effiya Technologies

 

Fuzzy Match provides accurate name matching – for a 360-degree view of your customer. Fuzzy Match is the way of finding entries of the same name in the text. It matches the customer name string, across disparate data sets – accurately and in real-time.

 

A Patented Algorithm

This Artificial Intelligence enabled smart algorithm is offered by Effiya Technologies, the product arm of Sutra Management Consultancies. Sutra’s R&D has developed and patented this state-of-the-art fuzzy name search algorithm, to power the Financial Crimes Compliance Suite.

Fuzzy Match Smart Algorithm can manage multiple error types – using text analysis and matching techniques – and can handle high volume of data computations.

It operates not only with the exact matches, even if the name is mis-spelled, it will work. It can manage multiple error types – typos, aliases, duplicates, spelling errors, nicknames, swapped components – and detect and alert these errors without fail. The algorithm can handle tremendous volumes of data, running into trillions of data computations.

Benchmarking Tests – Reduction in False Positives

The product scored decisively in benchmarking tests , outperforming market leaders by a wide margin. As per test results, the False Positives were contained at a low rate of 15%, versus competitors at 40% – when tested in conditions with 100% recall rate. Superior performing algorithms means, at least a 25% reduction in false positives, resulting in approximately $175,000 annual savings, for a medium sized organization.

The Fuzzy Match method is vastly used by financial institutions for credit bureaus checks, watch-listing, identity resolution and sanctions-screening. It is applied for linking customer records across products , to get a truly 360-degree view of your customer.

 

 

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