Sigma Ratings, a developer of automated relationship risk management, has released its ongoing KYB and KYC monitoring solution.
Having worked closely with KYC analysts and financial crime investigators to understand their biggest challenges, Sigma Ratings saw the need to continuously monitor changes in an entity’s behaviour.
When leveraging big data, point-in-time searches do not provide enough automated risk awareness of customers, counterparties and suppliers, it said.
The Sigma team decided to tackle this challenge. As a result, it has added continuous risk detection capabilities across billions of data points in its global datasets.
Through continuous KYB and KYC monitoring helps firms made better decisions at scale, boosts digital transformation an improves team efficiency.
With the solution, if a corporate registry identifies a change to an organisation, the Sigma system will automatically update a client regarding the change and any potential risk.
Sigma Ratings is an automated relationship risk management platform. It is a singular source of risk intelligence for screening and data monitoring to help compliance teams improve their due diligence, regulatory compliance and client lifecycle oversight processes. It supports AML screening and monitoring and perpetual KYC.
Sigma Ratings has had a busy year. It recently completed the service organisation control (SOC) 2 Type 1 audit, gaining it a certification.
Another recent milestone was the close of its Series A. The RegTech company raised the funds from Mosaik Partners, FinTech Collective, Contour Ventures and AngelList Ventures.
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