Drive Efficiency: Artificial Intelligence for Immigrant Investor Programs


Artificial Intelligence’s impact on the banking industry has prompted discussions about how immigrant investor industry stakeholders can use Artificial Intelligence (AI) to drive efficiency and sustainability. AI-enabled solutions support modern Know Your Customer (KYC) practices, resulting in better risk analysis and assessment of potential new applicants


AI involves training computers to perform cognitive tasks that would otherwise be performed by humans. Machine learning and natural language processing, both components of AI, enable these systems to learn about subjects by analysing and synthesizing large amounts of data to perform research.


Applied to the immigrant investor industry, here we explore three challenges AI is helping to address more effectively


Error-prone and Inefficient Manual Process

Even with the most comprehensive training and procedures, people follow instructions, complete tasks and interpret data differently. Include varying levels of concentration, fatigue, and environmental and personal stressors; and it’s clear that a manually driven search protocol is, at best, inconsistent.


Time and again manual due diligence has proven unreliable, specifically compared to AI-powered solutions that offer advanced methods to track information, ensure consistency, and maximise auditability.


Excessive Information

Search engines (e.g., Google and Bing), are typically limited by keywords and phrases, resulting in an overwhelming abundance of information, false positives, and duplicate findings. Agents are then forced to sift through all of the noise to figure out what is, and is not, relevant to their applicant.


Until a few years ago, sufficient due diligence meant simply verifying whether a new applicant was on a handful of watch lists. However, in today’s world, businesses are expected to look further. Scanning the first several pages of Internet search results and cross-referencing against watch lists are no longer adequate.


Citizenship by Investment Units (CIUs)  are required to thoroughly investigate new applicants. In a manual process, high volumes of data, false positives and duplicate documents create an enormous strain on time and budget. Using machine learning and natural language processing, AI systems address these issues, allowing for a more complete, streamlined, exponentially faster, and less costly data collection and review.


Search Engine Optimization

Public search engines weren’t built for background checks and fighting corruption. They were designed for commercial purposes – they’re also easily manipulated. Professional consultants can influence search engine rankings, driving up selected content while limiting exposure to content they want to conceal. The best information may be at item 1,000 and never reviewed. The “right to be forgotten” makes the use of standard match even more questionable.


In practice, immigration agent agreements require an approved application in order to complete the contract and warrant compensation. Onboarding new clients without access to the most advanced information used by the CIUs leaves agents susceptible to performing significant work for a client, only to have them flagged by the CIU and denied.


AI provides agents with the most accurate picture of their subject. With AI-enabled solutions, agents will get results that go beyond basic search results and look deep into all available information to ensure they’re removing risk issues without exposing their reputation, and before spending unnecessary time, money, and effort.


By maintaining efficiency, saving time, and providing cost-effective solutions, AI-powered technology can lead to greater reputational protection, consistent screening methods, and effective applicant onboarding and application processing.



Author: Thomas Anthony, Global Head of Exiger’s
Immigration, Citizenship and Visa (ICV) Practice

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