ENComplyAdvantage Named as Category Leader for KYC Solutions in Chartis RiskTech Quadrant® 2024
The leader in financial crime intelligence, ComplyAdvantage was also ranked as a category leader for transaction monitoring and the only best-of-breed KYC data provider on the market.
LONDON—ComplyAdvantage, the leader in financial crime intelligence, announced it has been featured as a Category Leader for KYC Solutions in the Chartis RiskTech Quadrant® 2024.
A specialist advisory firm in risk, compliance, and financial technology, Chartis focuses on supporting financial institutions, investment managers, and insurers.
In the parallel Chartis RiskTech Quadrant® 2024 for KYC Data, ComplyAdvantage also became the sole ‘best-of-breed’ vendor, reflecting its specialist expertise in financial crime risk intelligence. Specifically, ComplyAdvantage was the only firm to receive best-in-class scores in both the ‘sanctions and watchlist data’ and ‘negative news and PEPs’ categories. The firm has a proprietary mix of sanctions, watchlists, fitness, probity, PEPs, RCAs, and adverse media data driven by AI and verified by experts for accuracy.
“‘ComplyAdvantage has expanded to cover traditional financial institutions and FinTechs, with risk scoring and analytics capabilities that have embedded its offerings in a wide variety of global vendor and organizational solutions,” said Ahmad Kataf, Senior Research Specialist at Chartis. “This strong specialization, and its growing presence as a key pillar in many KYC processes, is reflected in its category leader positioning in our 2024 KYC Solutions quadrant.”
ComplyAdvantage’s proprietary data quality has previously been noted by other expert assessments, including RegTech Solutions (formerly SQA Consulting). “We have rated ComplyAdvantage’s PEP data coverage as ‘Excellent.’ Our benchmarking shows ComplyAdvantage’s name-matching efficiency and effectiveness are market-leading, with name-matching rates of close to 100%. This is very good, almost exceptionally good, a little higher than we often see for exact name tests.”
Finally, Chartis ranked ComplyAdvantage as a category leader for transaction monitoring. The analysts rated ComplyAdvantage as ‘best-in-class’ for data and system integrations, focus on modeling and risk typology, as well as ‘industry-leading’ for its focus on speed and volume, platform and case management, and solution packaging/deployment.
Chartis assessed the ComplyAdvantage product suite through an extensive written submission and follow-up in-person interviews between ComplyAdvantage experts and Chartis analysts. This included a live demo of relevant solutions.
ENDS
For additional information, please contact:
William Thompson
ComplyAdvantage
[email protected]
About ComplyAdvantage
ComplyAdvantage is the financial industry’s leading source of AI-driven financial crime risk data and fraud detection technology. ComplyAdvantage’s mission is to neutralize the risk of money laundering, terrorist financing, corruption, and other financial crime. More than 1,300 enterprises in 80 countries rely on ComplyAdvantage to understand the risk of who they’re doing business with through the world’s only global, real-time database of people and companies. The company identifies thousands of risk events daily from millions of structured and unstructured data points.
ComplyAdvantage has five global hubs in New York, Lisbon, London, Singapore, and Cluj-Napoca and is backed by Andreessen Horowitz, Goldman Sachs, Ontario Teachers’ Pension Plan, Index Ventures, and Balderton Capital. Learn more at complyadvantage.com.