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With $50 Million In Fresh Funding ComplyAdvantage Enhances Product Offerings For Accelerated Global Growth

Company Addresses Growing Customer Demand By Expanding Service Reach And Accuracy With Enhanced FATF Designated Categories of Offences And PEP Data Sets 

NEW YORK, LONDON & SINGAPORE — ComplyAdvantage, a global data technology company transforming financial crime detection, today announced several new feature enhancements to the company’s award-winning AML and financial risk management data offering.  On the heels of the company’s recent $50 million Series C led by Index Ventures and Balderton Capital, ComplyAdvantage continues to invest heavily in product development and related enhancements designed around the needs of the company’s growing global customer base.   

  • New Financial Action Task Force (FATF) Aligned Adverse Media Categories & next-gen Organizational Coverage model:   ComplyAdvantage is rolling out the first Adverse Media taxonomy of categories globally to be built in line with both FATF and EU 6AMLD designated offence recommendations. These categories include property, financial, narcotics and violence AML/CFT, terrorism, cybercrime and more. At the same time ComplyAdvantage has released a next-gen machine learning system focussed on improved global Organization coverage. FATF recommendations, which are the internationally endorsed global standards against money laundering and terrorist financing,  are designed to increase transparency and enable countries to successfully take action against illicit use of their financial system.
  • Expanded Politically Exposed Persons (PEP) Coverage:  The company has improved PEP coverage in key markets including the US & Canada, Singapore, Hong Kong SAR, Australia, Western Europe, Eastern Europe and the Middle East.  A PEP is an individual who has been entrusted with a prominent public function. A PEP generally presents a higher risk for potential involvement in bribery and corruption by virtue of their position and the influence that they may hold.
  • Unified Platform for Transaction Screening and Monitoring:  ComplyAdvantage offers seamless payment experiences that fulfill regulatory obligations with an integrated Transaction Screening and Monitoring solution.  The company provides a unified platform to manage all of your transaction-based risks. From suspicious behavior monitoring to the unique capability of screening hundreds of interdependent sanctions lists concurrently in real-time.  Quickly review activity, manage alerts and meet the requirements of regulators, banking partners, and auditors with a cloud-based alert management portal, user-friendly interface, and whitelisting capability. 

In a recently published report called Aite Matrix: Achieving AML Excellence Through Third-Party AML Data Providers,“ the well-known industry research firm Aite Group named ComplyAdvantage “A Vendor To Watch” noting that “from the outset, ComplyAdvantage has invested heavily in its data and machine learning capabilities,” and that the company’s performance is “driven by an entrepreneurial culture grounded on a detailed understanding of both the industry challenges and the use of data analytics. It is flexible and innovative and has had significant success among the smaller FIs, smaller payment firms, fintech firms, and non banking entities.” 

“Data has long been viewed as a core element of building robust financial crime risk management. Seeking greater effectiveness and operational efficiency, financial crime executives want expanded and richer risk-relevant data coverage and higher quality AML monitoring solutions,” said Chuck Subrt, Senior Analyst at Aite Group.  “ComplyAdvantage is bringing AI and machine learning to the forefront in its data offerings and overall AML product suite.”

“Given the sheer volume, velocity and complexity of financial crime, we are seeing an unprecedented demand for our AML solutions,” said Charles Delingpole, Founder and CEO of ComplyAdvantage.  “In order to keep pace with the growing compliance challenges facing our customers, we have constructed a data offering that is continuously enhanced with new data sources, expanded features based on the evolving crime risk landscape and manner in which our customers engage with our technology.  These recent enhancements have allowed us to expand our global reach while also increasing the accuracy of our machine-learning models and real-time, risk-focused insights.” 

Already the preferred choice of some of the world’s largest banks, enterprises and high-growth fintechs, ComplyAdvantage uses machine learning and natural language processing to help regulated organizations manage their risk obligations and prevent financial crime. The company’s proprietary database is derived from millions of data points that provide dynamic, real-time insights across sanctions, watchlists, politically exposed persons, and negative news. This reduces dependence on manual review processes and legacy databases by up to 80% and improves how companies screen and monitor clients and transactions.


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 Ontario Teachers’, Index Ventures and Balderton Capital. Learn more at complyadvantage.com.