Customer risk intelligence solution developer Arachnys has launched its customer risk intelligence (CRI) cloud-native platform.
Customer risk intelligence is a different approach to client onboarding, KYC, CDD, EDD and AML investigative activities, the company claims. Its new solution will boost speed, accuracy and re-use of information for KYC and onboarding, as well as improve customer experience, accelerate revenue acquisition, and simplify compliance.
By utilising Arachnys’ new solution, financial institutions can remove weeks from onboarding times, avoid AML remediation expenses, and increase throughput by lowering the number of false-positives and QA errors.
This newly launched service is a cloud-native solution which offers an online information library tailored to a firm’s compliance policies and risk management capabilities.
Arachnys president Edward Sander said, “Arachnys alone possesses the unique capability to acquire and distil complex risk data into highly useful risk decision content, the cloud and financial crime domain expertise and advanced technology mastery to create a consumable Customer Risk Intelligence platform.
“We’re at the intersection of a paradigm shift in the market for how entity data and investigative intelligence can transform business performance and we’re passionate about empowering investigative minds to stop bad actors and make the world a safer place.”
London-based Arachnys is a customer risk intelligence provider which helps financial institutions to speed up onboarding and threat detection. The platform helps organisations to keep compliance with Client Onboarding, Know Your Customer (KYC), Customer Due Diligence and Enhanced Due Diligence (CDD/EDD) and Anti Money Laundering (AML) requirements.
Earlier in the year, the company raised $10m in a Series A round of funding which was led by QED. The capital was raised to support product development, strategic partnerships and its go-to-market efforts.
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