The number of financial fraud attacks are on the rise, but RegTech companies 4Stop and ComplyAdvantage are hoping to fight back by partnering up.
Through their partnership, the compliance company 4Stop will integrate ComplyAdvantage’s datasets for screening and monitoring money laundering, adverse information and published media.
In other words, 4Stop’s clients can now enable ComplyAdvantage’s anti-money laundering insights from the 4Stop orchestration hub and customise its performance completely to meet any required compliance workflow.
“We are excited to ignite this partnership with ComplyAdvantage and to welcome them to our suite of data services,” said Ingo Ernst, CEO of 4Stop. “They will truly provide our clients with a powerful, world-class, enterprise-level solution to manage compliance requirements with ease. Combined with our readily available [know your business] and [know your customer] data services, our clients will obtain holistic risk mitigation workflows with comprehensive risk profiles to accelerate their global fraud defence with confidence.”
Nathalie Newman, head of partnership at ComplyAdvantage, added, “We are excited to be partnering with 4Stop, an innovative company in the RegTech space. This partnership will provide financial institutions with a higher quality KYC, KYB and compliance data, allowing them to make more informed decisions on their clients relative to their risk-based approach.”
The news comes after ComplyAdvantage announced in August 2019 that it was opening new offices in London, New York and the Asia-Pacific.
Copyright © 2018 RegTech Analyst