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Arachnys and BAE Systems Partner to Provide Streamlined Compliance Investigations and Accelerate Client Onboarding - Arachnys’ Customer Risk Intelligence Platform with BAE Systems NetRevealⓇ accelerates AML compliance investigations, streamlines KYC onboarding, ongoing due diligence and calculates real-time risk scoring - Arachnys.com / BAESystems.com
Arachnys and BAE Systems Partner to Provide Streamlined Compliance Investigations and Accelerate Client Onboarding

 

NewswireToday - /newswire/ - New York, NY, United States, 2019/06/12 - Arachnys’ Customer Risk Intelligence Platform with BAE Systems NetRevealⓇ accelerates AML compliance investigations, streamlines KYC onboarding, ongoing due diligence and calculates real-time risk scoring - Arachnys.com / BAESystems.com.

   
 
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Arachnys, the leader in Customer Risk Intelligence solutions for Client Onboarding, Know Your Customer (KYC), Customer Due Diligence & Enhanced Due Diligence (CDD/EDD) and Anti Money Laundering (AML), today announced that it is partnering with BAE Systems a proven enterprise solution provider of advanced analytics to address anti-money laundering and compliance obligations and delivering accurate and efficient fraud detection and prevention.

The partnership between BAE Systems’ NetReveal solution and Arachnys’ cloud-native Customer Risk Intelligence platform will enable mutual customers to benefit from streamlined due diligence processes, ongoing monitoring, improved KYC profile record completion and agile customer risk scoring.

Arachnys’s dynamic capabilities to support KYC, remediate transaction monitoring alerts and screen and monitor for negative events, give financial institutions a faster and more accurate understanding of ongoing risk across all customer populations. These capabilities combined with NetReveal’s advanced detection analytics, investigator-centric design and modernized modular technology will enhance investigations and speed up the adjudication of alerts, integrated automated workflow capabilities (RPA), providing a single source of beneficial ownership and corporate structures in line with evolving regulations.

“We are delighted to partner with BAE Systems to improve the security and risk management of financial institutions” said Ed Sander, President of Arachnys. “The comprehensive capabilities of our Customer Risk Intelligence platform provides rapid integration and solutions for a wide variety of customer risk evaluation across KYC, CDD and AML use cases”.

“Due to evolving regulations, it is taking longer to onboard customers, NetReveal applies a faster, smarter, intelligence-led approach to KYC” said Robert Harrison, Head of Product and Solutions, Financial Services, BAE Systems. “Our partnership with Arachnys will provide more efficient verification and validation through data enrichment; driving down onboarding times, improving operational efficiency and fighting financial crime.”

About Arachnys

Arachnys (arachnys.com) is a leader in Customer Risk Intelligence. We harness the world’s information to empower the investigative minds that secure our world. Our cloud-native, customer risk intelligence platform enables financial institutions worldwide to thwart bad actors, reduce operational costs, accelerate topline revenue, decrease false positives and reduce rejection and error rates. It ensures a firm’s KYC, AML and CDD /EDD capabilities support regulatory compliance demands. Arachnys’ unique use of RPA and ML technologies garnered it a 2018 “KYC Category Leader” rating from Chartis Research and placed it in the 2019 Chartis RiskTech 100, which identifies and profiles the top 100 RiskTech global providers. Arachnys is a valued member of the venture capital firm QED’s RegTech portfolio.

Arachnys is the registered trademark of Arachnys Information Services, headquartered in London with offices in New York. The Arachnys logos and product brands are trademarks/service marks of Arachnys.

About BAE Systems
At BAE Systems (baesystems.com), we provide some of the world's most advanced technology defense, aerospace and security solutions. We employ a skilled workforce of 82,500 people in over 40 countries. Working with customers and local partners, our products and services deliver military capability, protect people and national security, and keep critical information and infrastructure secure.

At BAE Systems Applied Intelligence, we help nations, governments and businesses around the world defend themselves against cybercrime, reduce their risk in the connected world, comply with regulation, and transform their operations. For further information about BAE Systems Applied Intelligence, please visit baesystems.com/ai.

For more information regarding BAE Systems’ fraud detection and regulatory compliance solutions, visit baesystems.com/compliance and for information on hot topics and new technologies in the banking sector, subscribe to BAE Systems’ Banking Insights expert briefing series: baesystems.com/bankinginsights

Media Contacts:
Arachnys, Lynne Morrice
E: lynne.morrice[.]arachnys.com - T: +44(0) 7973 143330

 
 
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Written by / Agency / Source: SilverSky | BAE Systems plc

 
 

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Arachnys and BAE Systems Partner to Provide Streamlined Compliance Investigations and Accelerate Client Onboarding

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