Experian Unveils Continuous Monitoring Tech to Strengthen Financial Crime Defenses

Experian has introduced an innovative solution aimed at empowering banks and lending institutions to better identify and prevent financial crime. The new system leverages continuous monitoring technology to detect suspicious activity early, allowing financial organizations to prioritize their resources more effectively.

Traditional Know-Your-Customer (KYC) checks often require significant manual effort and periodic updates, leaving gaps in monitoring high-risk accounts. Experian’s new solution automates this process, analyzing customer data from multiple sources on an ongoing basis. When anomalies or potential threats are detected, alerts are automatically generated for investigators, ensuring timely intervention without overwhelming compliance teams with routine checks.

This proactive model helps institutions maintain regulatory standards while improving operational efficiency. By focusing attention on high-risk activity, financial organizations can offer smoother services to low-risk customers, enhancing overall customer experience.

Experian has conducted extensive pilot programs with several major banks and lenders, validating the system’s effectiveness. Notably, Lloyds Banking Group collaborated in developing the first Perpetual Monitoring platform, Automated Portfolio Monitoring (APM), which has been successfully implemented to streamline KYC procedures and reduce customer friction.

Grant MacDonald, Experian UK&I Director of FinCrime Market Engagement, emphasized that the company aims to set a new benchmark for the industry. “Our goal is to transform how financial institutions detect and respond to risks, using technology to maximize protection while minimizing unnecessary operational burden,” he said.

Tom Martin, Business Platform Lead at Lloyds Banking Group, noted that the solution has strengthened their defenses against organized financial crime while making mandatory checks more seamless for customers. “The collaboration illustrates how technology and industry cooperation can modernize compliance without compromising customer experience,” Martin added.

As financial crime continues to evolve, solutions like Experian’s Perpetual Monitoring platform represent a significant step forward, providing continuous vigilance, improved risk prioritization, and enhanced operational resilience for banks and lenders alike.