About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

Global Screening Services Raises $47 Million, Moves into Operational Phase

Subscribe to our newsletter

Global Screening Services (GSS), a provider of transaction screening, has completed a Series A2 funding round raising over $47 million (£37 million). The investment will support the London-based company’s transition from a development to operational phase as its cloud-native platform prepares to go live with inaugural clients.

Originally incubated by AlixPartners, GSS tackles the complexity of sanctions with a platform that operates as a collaborative hub, bringing together financial institutions and industry partners to deliver efficient and effective transaction screening for sanctions.

AlixPartners is an existing investor in the company, along with Cynosure Group and financial institution MUFG. An addition in this funding round is Commonwealth Bank of Australia (CBA). The company will continue with its advisory board of more than 30 global financial institutions that has worked together since 2021 to create a common technology framework and agree standards for the financial sector.

Tom Scampion, CEO and co-founder of GSS, says: “GSS is well positioned to deliver improved regulatory compliance and an enhanced customer experience.”

As part of its investment in GSS, CBA will join the company’s main board as an observer. The bank will be represented by its executive general manager of financial crime compliance, John Fogarty. He says: “We’re excited about the potential of GSS with its global reach and look forward to seeing how CBA can potentially use the technology to continue to prevent sanctioned parties from accessing and moving money into or out of Australia.”

Subscribe to our newsletter

Related content

WEBINAR

Upcoming Webinar: How to leverage Generative AI and Large Language Models for regulatory compliance

Date: 8 May 2024 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes Generative AI (GenAI) and Large Language Models (LLMs) offer huge potential for change across capital markets, not least in regulatory compliance where they have the capability to help firms understand and interpret regulations, automate compliance, monitor transactions in real...

BLOG

Compliance Automation Provider Ascent Technologies Acquired by Edgewater Equity Partners

Ascent Technologies, a Chicago-based provider of AI-driven compliance automation, has been acquired by Edgewater Equity Partners, a private equity firm in Boston. The acquisition aims to accelerate development of Ascent’s compliance automation platform and enhance its value proposition to customers. The acquisition is a strategic move for Edgewater Equity Partners, which acknowledges Ascent’s capability in...

EVENT

TradingTech Summit London

Now in its 13th year the TradingTech Summit London brings together the European trading technology capital markets industry and examines the latest changes and innovations in trading technology and explores how technology is being deployed to create an edge in sell side and buy side capital markets financial institutions.

GUIDE

Regulatory Data Handbook 2023 – Eleventh Edition

Welcome to the eleventh edition of A-Team Group’s Regulatory Data Handbook, a popular publication that covers new regulations in capital markets, tracks regulatory change, and provides advice on the data, data management and implementation requirements of more than 30 regulations across UK, European, US and Asia-Pacific capital markets. This edition of the handbook includes new...