Customer risk intelligence (CRI) company Arachnys has become a platinum level member of Oracle PartnerNetwork, a group of partners developing Oracle software solutions.
The aim of the deal is to help Oracles’ financial services financial crime and compliance management (FSFCC) solution increase AML compliance investigations, streamline KYC onboarding, and create agile customer risk scoring.
As part of the agreement, Arachnys will integrate its Navigator CRI platform to enhance FSFCC solution. Through this, Oracle will be able to offer an enhanced due diligence process including access an archive of financial crime investigations and KYC profile records.
The Navigator solution provides analysts with a way of screening for negative news and entity profile information for new customers at client onboarding and related parties within transaction monitoring investigations.
With this, they are capable of better understanding risks across entities for improved and proactive risk decisioning, while ensuring Oracle customers have clearer auditability and improved compliance through investigations.
Being a platinum level member will provide Arachnys with the benefit of instantly developing specialisations and improvements for their product within the Oracle marketplace. Other perks include the ability to resell all Oracle Technology products, and access support and reduced rates.
Oracle PartnerNetwork is a partner program which helps companies develop, sell and implement Oracle solutions.
Oracle Financial Services Analytical Applications group vice president Ambreesh Khanna said, “The transformative potential of Arachnys’ cloud-native platform stands out in the field for its ability to accelerate revenue by augmenting compliance and operations. We believe its approach to entity data management is highly complementary to Oracle’s and look forward to creating value for our customers in the fight against financial crime.”
Arachnys empowers financial institutions to stop malicious attacks, lower operational costs, decrease false positives and lower error rates. Its customer risk intelligence services help to ensure compliance with client onboarding, KYC, CDD, EDD and AML.
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