Artesian Solutions, a client intelligence tool for financial services companies, has launched its Artesian Risk and Compliance Hub (ARCH).
The service, which has been in development for two years, enables relationship managers, underwriters, and frontline teams within banks, insurers, and financial regulated bodies to better assess and understand their corporate clients throughout the life of a customer.
Relationship managers can get the earliest view of risks and opportunities to help their clients as well as protecting their own organisation.
ARCH continuously monitors real-time credit risk and KYC data sources but applies a bank’s and insurer’s own policies on the data. Results give a clear view of appetite and complexity, highlighting areas of concern.
Its technology lets a user establish expectations for the onboarding process and accelerate anything which would be impacted by KYC or credit risk procedures, it said.
During its test phase, ARCH was allegedly able to find the same number of critical risks as existing bank processes, and an additional 14 per cent.
The new service has also been accepted into the new PwC Scale InsurTech programme; an 11-week accelerator programme designed to support growth in the industry.
Artesian Solutions co-founder and CEO Andrew Yates said, “We have the great privilege of serving 80% of the UK’s major banking institutions, providing powerful sales engagement insights to relationship managers.
“We asked what we could do to make our software even more useful and the answer was ARCH. Almost two years of engineering and millions of pounds later we’re announcing ARCH’s general availability for customers.
“We believe this puts Artesian in a unique position to be able to combine customer engagement capabilities together with credit and risk in one single application delivered through a browser or mobile device.”
The new ARCH offering is available to both existing and new customers.
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