Australian-based Arctic Intelligence has launched the latest iteration of its risk assessment platform to better support clients across the world.
It’s been a busy year for Arctic Intelligence. Earlier this year the scaleup picked up two awards at The RegTech Association’s annual awards ceremony shortly after being recognised as a Rising Star in Deloitte’s Technology Fast50 in late 2019. And that’s on top of being named on the coveted RegTech100 list of the 100 most innovative RegTech companies across the world.
Now the startup is taking it up a notch by unveiling the latest version of its cloud-based risk assessment solution: the Risk Assessment Platform.
The new version includes global architecture that ensures client data resides in a data store within their selected region. This enhancement comes into effect 9 September 2020 and addresses concerns across the globe in meeting privacy regulations within the country of origin.
“To put it simply, this enhancement means that Arctic Intelligence will not need to set up separate environments in different parts of the world,” said Darren Cade, COO of Arctic Intelligence.
Arctic Intelligence is ISO270001 certified for information security and together with the data sovereignty enhancement, it means more clients can leverage the convenience of a cloud-based RegTech solution without the concern of off-shore data.
The new solution removes the need to install software in their own environment. The platform includes a single entry point for global clients to the Arctic Intelligence cloud platform, a single user account across multiple regions, support for regional databases, and a central hub for replicating non-sensitive data such as templates.
“If a client registers in a particular region, all of the client specific data and information, such as their financial crime risk assessments, is stored in the relevant regional database,” said Cade. “We believe this to be market-leading architecture that will provide great benefit to all of our clients globally.”
Arctic Intelligence is the brainchild of founder and CEO Anthony Quinn (pictured). He had the idea to launch the company after spending roughly two decades consulting retail and investment banks as well as running financial crime risk management programmes.
“It got me thinking about the millions of companies subject to these laws that lacked the capacity or capability to meet their obligations exposing them individually as well as their businesses to risks and that I could apply my knowledge, skills and experience by building technology platforms that helped ease the burden on businesses,” Quinn said in a recent interview with RegTech Analyst.
Said and done. Having launched the company in 2015, Arctic Intelligence has now become a global RegTech tour de force in the fight against money laundering and other financial crimes.
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