ComplyAdvantage launches an application on Finastra
New York, NY, September 09, 2021 (GLOBE NEWSWIRE) – ComplyAdvantage, a global data technology company transforming financial crime detection, today announced that its ComplyAdvantage app is available through Finastra’s FusionStore. The app will enable financial institutions, payment providers, challenger banks, crypto exchanges and fast growing financial services companies to benefit from filtering against real-time data to detect and mitigate the risk of money laundering.
Going live on FusionStore marks the final step in the application development journey for businesses using Finastra’s open cloud development platform, FusionFabric.cloud. The FusionStore Marketplace enables Finastra customers around the world to access, test, purchase and deploy certified applications on Finastra core systems, helping them quickly realize benefits and deliver added value to their businesses. clients.
“At ComplyAdvantage, our mission is to forge strategic partnerships, deliver best-in-class technology and become the leader in AI-based financial crime risk detection and detection technologies,” said Raji Soussou, Global Head of Channels and Alliances at ComplyAdvantage. “By having our application on Finastra’s FusionFabric.cloud, we can now make our award-winning large-scale financial risk analysis solutions accessible to financial institutions around the world. “
Leveraging Finastra’s industry-leading core technologies and leveraging an extensive catalog of open APIs, ComplyAdvantage has developed an anti-money laundering solution with an advanced approach to data collection and refinement. ComplyAdvantage uses the latest machine learning and information retrieval technologies to acquire information faster and more efficiently than the industry standard. It offers filtering and monitoring against the latest data on sanctions and watchlists. Coverage includes all global listings including OFAC, UN, EU, HMT, MAS, DFAT and thousands of government, regulatory and law enforcement listings.
Delivering large-scale risk management solutions designed for high-growth businesses, ComplyAdvantage’s robust monitoring, updating and assurance processes monitor thousands of AML listings simultaneously over time. real. In addition, the company’s transaction filtering solution identifies the risk of sanctions in all parts of the payment message, including free unregulated reference text, by filtering against a consolidated database in time. almost real. 24/7 automatic monitoring captures updates in the shortest possible time and alerts financial institutions when there is an update on money laundering risk. It is pre-integrated with Fusion Essence and Fusion Global PAYplus from Finastra for faster deployment.
“With global financial crime compliance spending now exceeding $ 100 billion annually, our clients are seeking the most effective and innovative solutions possible to minimize risk and lower the cost of compliance,” said Vincent Pugliese, SVP and Managing Director of the Platform at Finastra. “As Finastra cores generate and process the transactions that need to be compliant, our customers are eagerly looking for pre-integrated solutions to meet these pressing needs. We welcome ComplyAdvantage to the FusionFabric.cloud platform as part of our broader solution set for financial crime compliance and regtech. Using Finastra’s open APIs, developers can create solutions that address business challenges across the spectrum of financial services including retail banking, payments, banking, corporate banking, loans, treasury and capital markets. Visit FusionStore for more information: https://store.fusionfabric.cloud/
ComplyAdvantage is the financial industry’s leading source for financial crime risk data and AI-based detection technologies. ComplyAdvantage’s mission is to neutralize the risk of money laundering, terrorist financing, corruption and other financial crimes. More than 500 companies in 75 countries rely on ComplyAdvantage to understand the risk they do business with through the only global, real-time database of people and businesses. The company actively identifies tens of thousands of risk events every day from millions of structured and unstructured data points.
ComplyAdvantage has four global centers located in New York, London, Singapore and Cluj-Napoca and is backed by Goldman Sachs, Ontario Teachers’, Index Ventures and Balderton Capital. Learn more at complianceadvantage.com.
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Finastra is building an open platform that accelerates collaboration and innovation in financial services, creating better experiences for people, businesses and communities. Backed by the largest and most comprehensive portfolio of financial services software, Finastra delivers this vitally important technology to financial institutions of all sizes around the world, including 90 of the world’s 100 largest banks. Our open architecture approach brings together a number of partners and innovators. Together, we show how applications are written, deployed and used in financial services to evolve with changing customer needs. Learn more at finastra.com
FusionFabric.cloud is a scalable, open and collaborative development platform built by Finastra. The secure and proven cloud platform encourages innovation, opening up core business systems through APIs so that third parties can develop applications on top of it. Fintechs can quickly build and promote apps around the world. Financial institutions can access or create new services, requested by their customers, more quickly. Visit fusionfabric.cloud
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