FullCircl and ComplyAdvantage Collaborate to Revolutionize AML and KYC Screening

July 9, 2023
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Key Takeaways:

  • FullCircl, the Customer Lifecycle Intelligence (CLI) platform, and ComplyAdvantage, the leader in financial crime intelligence, have announced a strategic partnership to deliver a best-in-class onboarding and customer lifecycle management solution.
  • The integration of FullCircl and ComplyAdvantage provides companies with advanced PEP (Politically Exposed Person), sanctions, adverse media, credit, and risk screening tools. This comprehensive suite of compliance and risk capabilities streamlines onboarding and monitoring workflows, reduces false positives by 70%, enables dynamic risk assessment and mitigation, and drives significant efficiency gains throughout the customer lifecycle.

Transforming Compliance and Risk Management

Stuart Boardman, FullCircl’s Director of Channels and Revenue Partnerships, highlighted the transformative potential of the strategic partnership, stating, “This is a game-changing opportunity for financial institutions to maintain a competitive edge and proactively mitigate potential risks in an increasingly complex and fast-paced regulatory environment. Organizations can safeguard their business and customers from potential exposures and reputational damage by gaining a comprehensive understanding of their risk landscape and leveraging advanced data intelligence to make informed decisions.”

The partnership offers the following key benefits:

  1. Global PEP and sanctions watchlist screening: Continuous updates on watchlists such as OFAC, UN HMT, EU DFAT, and more.
  2. Real-time adverse media updates: Aligned with FATF (Financial Action Task Force) and EU Money Laundering Directive (6MLD) for AML (Anti-Money Laundering) taxonomy, providing the latest regulatory guidance.
  3. Robust, up-to-date, and dynamic credit and risk profiles.

Raji Soussou, VP Global Partnership & Alliances for ComplyAdvantage, emphasized the strength of the partnership, stating, “The combination of FullCircl’s Customer Lifecycle Intelligence platform with our rich data and screening tools empowers financial institutions to efficiently and cost-effectively identify a wide range of relevant risks for faster onboarding, efficient compliance, dynamic risk assessment, and superior customer experiences.”

About FullCircl

FullCircl is a Customer Lifecycle Intelligence (CLI) platform that empowers B2B companies in financially regulated industries to optimize their business processes. The platform enables front and middle office teams to attract the right customers, accelerate onboarding, and nurture long-term relationships. With best-in-class data enrichment and a powerful, low-code rules engine, FullCircl reduces the regulatory burden and drives automation. The platform’s web applications and APIs significantly lower the cost of acquiring and serving the right business customers.

Formed through the merger of Artesian Solutions and DueDil, FullCircl is backed by top-tier investors, including Octopus Investments, Notion Capital, Augmentum Fintech, and notable angel investors. The company serves around 600 customers and 15,000 users, leveraging decades of combined experience in serving UK financial institutions. For more information, visit fullcircl.com.

About ComplyAdvantage

ComplyAdvantage is the leading source of AI-driven financial crime risk data and fraud detection technology in the financial industry. Its mission is to mitigate the risk of money laundering, terrorist financing, corruption, and other financial crimes. More than 1,000 enterprises in 75 countries rely on ComplyAdvantage to understand the risk associated with their business partners through the world’s only real-time global database of people and companies. The company analyzes millions of structured and unstructured data points daily, identifying thousands of risk events.

With global hubs in New York, London, Singapore, and Cluj-Napoca, ComplyAdvantage is supported by Goldman Sachs, Ontario Teachers, Index Ventures, and Balderton Capital. Learn more at complyadvantage.com.

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