A Guide to Anti-Money Laundering for Crypto Firms

ComplyAdvantage wins the Advanced Technology Award for Leading KYC Solution Providers

NEW YORK, LONDON and SINGAPORE – July 16th, 2020 – ComplyAdvantage, a global technology company transforming financial crime detection, today announced it has been recognized by the XCelent Award 2020 as the Advanced Technology Award winner.

Celent’s thorough vendor evaluation scrutinizes leading Know Your Customer (KYC) solutions around the world. The KYC solutions are evaluated across various elements, including onboarding and customer due diligence, watchlist screening, and customer reviews. In addition to scoring highly for the breadth of functionality, ComplyAdvantage outperformed 11 other providers in this evaluation, receiving the Advanced Technology award.  

“ComplyAdvantage delivers streamlined KYC screening and risk scoring functionality that leverages advanced analytics, natural language processing, and a large, proprietary dataset of governmental/official and media data assets,” said Neil Katkov, Head of Risk and Compliance at Celent. “By offering these capabilities through API-enabled, cloud native solutions, they have amassed a substantial client base comprising digital financial services providers as well as traditional financial institutions.”

ComplyAdvantage uses machine learning and natural language processing to help fintechs, financial institutions and other regulated organizations manage their risk obligations and prevent financial crime. Its suite of products harness this intelligence to reduce dependence on manual review processes and legacy databases and improve how companies screen and monitor clients and transactions. ComplyAdvantage scored highly for both technology and scalability of their solution, ongoing system support, responsiveness in handling and speed of issue resolution from their customers.

“We are proud to receive the XCelent Technology Award. It recognizes our continued commitment to building the world’s most advanced AML risk database with a powerful suite of products that enable financial institutions and fintechs to detect and remediate risk to ultimately eliminate financial crime,” said Charles Delingpole, Founder and CEO of ComplyAdvantage.

The full report can be found here.

About ComplyAdvantage

ComplyAdvantage is the financial industry’s leading source of AI-driven financial crime risk data and detection technology. ComplyAdvantage’s mission is to neutralize the risk of money laundering, terrorist financing, corruption, and other financial crime. More than 500 enterprises in 75 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 actively identifies tens of thousands of risk events from millions of structured and unstructured data points every single day. ComplyAdvantage has four global hubs located in New York, London, Singapore and Cluj-Napoca and is backed by Index Ventures and Balderton Capital. Learn more at complyadvantage.com