Awards

ComplyAdvantage announces ISO 27001 certification

By October 22, 2018 April 24th, 2019 No Comments

ComplyAdvantage, a leading AI-driven AML data and technology provider, is proud to announce their full certification to ISO 27001:2013 Information Security Standard by the global certification body, BSI. This achievement applies to all data managed and processed by the company as well as governance, risk and compliance solutions, products and services offered to clients.

ISO 27001 is the best-known global standard that recognizes requirements for an information security management system.  

VP Engineering at ComplyAdvantage, Luke Mawbey says, “The confidentiality, integrity and availability of our clients’ data as well as our data has always come first, and this certification demonstrates that we have the management systems to ensure this is the case. As our business grows, and particularly with the reality of a fast-changing threat landscape, it is essential that we have the systems and processes in place that demonstrate to clients, regulators and ourselves, ongoing best practices of data and information management and processing. We have always had a strong culture of data security and are proud that all people, processes and technology at ComplyAdvantage are now covered in this certification.”

He continued, “This certification is even more crucial for businesses like ours, handling high volumes of sensitive and personal information in regulated industries such as financial services. Not all data and technology vendors in the space have this certification, or certify their entire business, products and processes. In an era of GDPR and massive data breaches, it’s ever more important we visibly demonstrate our commitment to excellence in data security to our clients and partners.”

Unlike the majority of companies undergoing certification, ComplyAdvantage took the additional step to use custom controls in their approach. This allowed them to use the flexibility of the standard and tailor it to their business needs and requirements, which demonstrated a thorough understanding and comprehension of the risks that affect the business. As a modern, high-growth business that uses cutting edge technology and approaches, especially around the use of the public cloud, a customized approach is important.

BSI, one of the most established and recognized certification bodies globally, carried out the audit and is accredited by the United Kingdom Accreditation Service (UKAS). BSI recognized that ComplyAdvantage’s top management is fully committed to the ISMS and has identified that information security and certification is key to meeting client needs, data protection and redundancy of data.

Carla Whyte, Senior Client Propositions Manager at BSI said: “It’s vital in today’s digital world that organizations can demonstrate that they are safeguarding sensitive information in order to gain the trust of customers. ComplyAdvantage should be delighted that they have achieved certification to ISO 27001, proving that the organization is committed to ensuring information is well managed and that it has a robust information security management system in place.”

Chris Hall, ISO27001 Expert Adviser from Business and Technology Risk Partners, who supported ComplyAdvantage in the design and support of their Information Management Systems says, “I have been impressed with ComplyAdvantage’s approach to not only adhering to the requirements of the standard but more importantly ensuring the security of client data. Unlike some organizations they did not view obtaining ISO 27001 certification as a “tick box” exercise but as a genuine approach to ensuring effective information security that delivers tangible business benefits. They were very open to using the flexibility of ISO 27001 in modern ways to help them achieve these benefits. This has been achieved in the context of the benefits as well as challenges that ComplyAdvantage face as a dynamic business that is using advanced technologies to power their business.”

ComplyAdvantage attains the certification as they expand rapidly into new markets such as Singapore and Hong Kong.

 

ABOUT COMPLYADVANTAGE

ComplyAdvantage helps firms make intelligent choices when complying with regulations relating to sanctions, money laundering and terrorist financing.

We combine Artificial Intelligence and machine learning with industry expertise to allow firms to tailor a risk-based approach to their compliance obligations. Our solutions enable companies to improve how they onboard and monitor clients, screen payments and monitor transactions by reducing false positives and speeding up processes, all delivered by flexible, RESTful APIs.

Founded in 2014 with offices in London and New York, ComplyAdvantage works globally with some 350 firms in the financial markets and other regulated high-risk sectors.

 

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