Jumio, an AI-powered trusted identity as a service provider, this week launched Jumio Screening: an automated AML screening solution that integrates ComplyAdvantage, a real-time, dynamic financial crime database. The partnership gives Jumio users access to a global proprietary database of structured risk profiles covering enhanced sanctions, regulatory and enforcement watchlists, politically exposed persons and adverse media. The integration automatically flags any new online customers when they are initially onboarded, if their names are listed within any of these databases. The new service also delivers alerts and ongoing monitoring after the initial onboarding process to help financial organisations maintain compliance.
A-Team Insight Briefs
Singapore’s Jumio Joins with ComplyAdvantage to Reduce AML Risk Exposure
Financial fraud and crime continue to escalate causing significant damage to companies, countries and the global economy despite enormous efforts by firms and organisations in the financial services sector to identify and expel bad actors. As these bad actors use increasingly sophisticated techniques to break into financial institutions and extract both money and data, so...
ComplyAdvantage, a financial crime compliance specialist, has received new investment from Goldman Sachs Growth Equity. The investment will be used to build on the company’s rapid growth and cement its position as a critical part of the value chain for companies managing evolving risks around anti-money laundering (AML) and know your customer (KYC) processes, as...
Now in its 5th year, the RegTech Summit in NYC explores how the North American financial services industry can leverage technology to drive innovation, cut costs and support regulatory change.
This year has truly been a year of change for the data management community. Regulators and industry participants alike have been keenly focused on the importance of data with regards to compliance and risk management considerations. The UK Financial Services Authority’s fining of Barclays for transaction reporting failures as a result of inconsistent underlying reference...