Themis, Diligencia partner to combat fraud in Middle East and Africa

Themis, Diligencia partner to combat fraud in Middle East and Africa

RegTech platform Themis has formed a strategic partnership with Diligencia, a provider to corporate data in the Middle East and Africa, to help combat fraud.

Through this partnership with Diligencia, Themis builds upon its existing data sets to offer unparalleled access to corporate data in the region. It adds an additional 15.5 million records across 70 countries in the MEA region and Sub-Saharan Africa. This includes depth analysis of companies and directors in the UAE, Saudi Arabia, Iran and other GCC Countries.

Its Themis Search now offers access to over 215 million company records and 280 million individual directors in over 140 jurisdictions globally. The platform also gives full political exposure status, sanctions data from over 80 countries, including UAE, Bahrain, Egypt, Jordan and others across the Middle East and Africa, regulatory enforcements and corporate actions and over 25 million adverse media articles spanning 15 years in over 40 different languages.

Themis offers an automated due diligence platform that allows companies and individuals to conduct AML screening and monitoring of all their clients, suppliers, third parties and investors through a single platform.

Its platform leverages AI and machine learning technology that is powered by threat-based data, research and intelligence to detect potential links to financial crime. Its AML software also provides a simple way to conduct screening, KYC onboarding, risk mapping, enhanced due diligence and automated monitoring.

Themis CEO Dickon Johnstone, said, “This strategic partnership absolutely aligns with our mission – to reduce the global impacts of financial crime. Knowledge is everything and the continued expansion of our data sets means you can be confident that you have run comprehensive checks to avoid any potential dealings with fraudsters, con-artists or other nefarious characters or businesses.

“We want everyone to be able to conduct quick, easy and thorough due diligence on all their counterparties – whether that be a new client, supplier or investment – at work or at home. It is really important you know where your money is going and that you are not unwittingly feeding the shadow economy.”

Diligencia commercial director Patrick Lord added, “Financial criminals exploit unequal access to knowledge and information, causing very real harm to people, to businesses and to the environment.  That is why our mission at Diligencia is to deliver clarity with the data and intelligence we provide, because in the absence of clarity comes uncertainty, inefficiency and, in the worst cases, criminal activity.”

Themis recently raised £3.1m in its pre-Series A funding round. The company was valued at £15.4m and experienced 57% growth in revenues during 2022.

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