ComplyAdvantage, an AI-driven Fraud and AML Risk Detection Platform, Announces Inclusion in Chartis RiskTech100

ComplyAdvantage, which claims to be a global leader in AI-driven fraud and anti-money laundering (AML) risk detection, announced its inclusion in the Chartis RiskTech100.

The RegTech saw “an increase in its overall score compared with 2022, driven by an almost 8 percentage point increase in its market presence rating.”

RiskTech100® is “regarded as the most comprehensive study of the major global players in risk and compliance technology.” Using a robust, repeatable methodology, it ranks the top 100 risk technology providers and identifies key players “in specific risk and compliance categories.”

Each firm’s risk management software products and solutions are “assessed for their functionality, core technology, strategy, customer satisfaction, market presence, and innovation.”

Phil Mackenzie, Research Principal at Chartis, said:

“In the rapidly developing KYC data space, ComplyAdvantage has secured a firm position. An innovative combination of data and software and a clear-sighted strategy will be key in strengthening this.”

ComplyAdvantage CEO, Vatsa Narasimha, further commented:

“Our inclusion in the RiskTech100 for the third consecutive year is a validation of the results our team is delivering for customers across fraud and money laundering risk detection. Increased adoption of our solutions worldwide will keep illicit transitions and bad actors out of the financial system in 2023 and beyond.”

Already the “preferred” choice of some of the world’s largest banks, enterprises, and high-growth FinTechs, ComplyAdvantage uses machine learning “to help regulated organizations manage their risk obligations and prevent financial crime.”

ComplyAdvantage claims that it is also “a leading provider of anti-money laundering insights and best practices, including the company’s recently launched customer onboarding training program.”

As covered, ComplyAdvantage is “the financial industry’s source of AI-driven financial crime risk data and fraud 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 “identifies thousands of risk events daily from millions of structured and unstructured data points.”

ComplyAdvantage has four global hubs “in New York, London, Singapore, and Cluj-Napoca and is backed by Goldman Sachs, Ontario Teachers, Index Ventures, and Balderton Capital.”

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