ComplyAdvantage, a global data technology company with a unique approach to financial crime detection, today announced that Hampshire Trust Bank (HTB), a specialist bank focused on lending to UK businesses, has selected the company’s award-winning anti-money laundering (AML) suite of solutions including Customer Screening and Onboarding, Adverse Information & Media, Transaction Monitoring and Transaction Screening.
Hampshire Trust Bank provides specialist business finance, mortgages and savings accounts for individuals and businesses. Because of its recent significant growth, the bank’s risk profile is changing as the firm’s client base expands into newer markets. They said this is why they elected to partner with ComplyAdvantage in order to build stronger, real-time AML capabilities with better control and scalability.
“Hampshire Trust Bank is serious about combating financial crime and maintains carefully monitored controls across the bank. As we sought to strengthen those controls we wanted a solution that would bring both resilience and efficiency”, said Nick Hawke, chief compliance officer for Hampshire Trust Bank. “ComplyAdvantage represents a key step in maturity by consolidating all screening and transaction monitoring into a single hosted platform, which delivers a robust and reliable solution.”
Powered by ComplyData, ComplyAdvantage’s hyper-scale technology helps to uncover hidden risks throughout the customer lifecycle, helping banks to maintain high levels of compliance oversight and integrity. This reduces dependence on manual review processes and legacy databases by up to 80 per cent and improves how businesses screen and monitor clients and transactions.
“We are very proud to be selected by such a highly regarded bank as Hampshire Trust Bank,” said Charlie Delingpole, founder and CEO ComplyAdvantage. “Now, the Hampshire Trust Bank team can transact with trust and grow with confidence by using our state-of-the-art AML intelligence, tools and technology needed to combat the volume, velocity and complexity of today’s financial crimes.”