KYC Global Technologies is partnering with Dow Jones Risk & Compliance, strengthening the positioning of the Jersey-based company’s RiskScreen product range.
The partnership enhances the ability of RiskScreen users to identify customers and companies with characteristics that indicate heightened financial crime risk by providing access to Dow Jones’ sanctions, watch list, adverse media and PEP data.
KYC Global Technologies Group is a Jersey-owned compliance technology business that builds innovative RegTech solutions designed to manage financial crime risk, including the cutting-edge customer screening solution RiskScreen. In addition to the integration of Dow Jones data, the company has also recently launched ‘batch screening’ capability that enables the automated screening of millions of customer records daily against one of the world’s most extensive datasets.
Launched just eighteen months ago, RiskScreen is now being used by over 350 financial institutions, regulators and law enforcement agencies across more than 50 jurisdictions with dozens of new organisations signing up for the service every month.
Founder and Chairman, Stephen Platt (pictured), says: “Our technology is better and more cost-effective than the competition and as a result we are winning market share as businesses look to get a better return on the investment they are making in AML compliance. Having a global partnership with Dow Jones Risk & Compliance is a tremendous advance for us and for our customers. We’re delighted to be associated with the leading name in customer screening data.”
Joel Lange, Managing Director of Dow Jones Risk & Compliance, says: “With businesses under more pressure than ever before to focus on compliance, we’re confident that our data offers best-in-class protection against financial crime activities. Working with Dow Jones will give RiskScreen users access to the most comprehensive and accurate data possible so they can meet their regulatory needs.”
KYC Global Technologies is supported by several high net worth individuals including Simon Nixon, founder of MoneySupermarket.com, who says: “The power of RiskScreen’s search is second to none, but as a product it also has a laser focus on cost-effectiveness and superb customer service.”
RiskScreen is making world-class customer screening accessible for all businesses regardless of size, with a low-cost entry point and the ability to add multiple users under one subscription allowing businesses to empower their first line of defence in the fight against financial crime. The software is also user-friendly and mobile-enabled, making it accessible on the move.
Platt says: “The compliance industry is at tipping point. If systems do not become leaner and more effective they will be written off as a cost that is simply too high to be bearable in a low growth environment. Our philosophy is that screening should be as simple and effective as possible.”
This article was first published in Institutional Asset Manager on 16/11/17