FullCircl, the Customer Lifecycle Intelligence Platform, Partners with Financial Crime Intelligence Firm ComplyAdvantage

FullCircl, the Customer Lifecycle Intelligence (CLI) platform that helps financially regulated businesses do better business, faster, and ComplyAdvantage, the firm focused on financial crime intelligence, announced a new partnership that will create a best-in-class onboarding and customer lifecycle management solution.

When companies integrate with FullCircl and ComplyAdvantage, they access “a suite of advanced PEP, sanctions, adverse media, credit and risk screening tools that provide market-leading compliance and risk capabilities.”

This highly differentiated approach to anti-money laundering (AML) and risk management streamlines onboarding and monitoring workflows, “reduces false positives by 70%, delivers dynamic risk assessment and mitigation, and drives significant efficiency gains across the entire customer lifecycle.”

Stuart Boardman, FullCircl’s Director of Channels and Revenue Partnerships said:

“This strategic partnership is a game-changing opportunity for financial institutions to maintain competitive edge and stay ahead of potential risks in an increasingly complex and fast-paced regulatory environment. Organisations can protect their business – and customers – from potential exposures and reputational damage with a comprehensive understanding of their risk landscape and the advanced data intelligence to make informed decisions.”

The partnership offers:

  • Global PEP and Sanctions watchlist screening (OFAC, UN HMT, EU DFAT, and more) updated continuously.
  • Real-time adverse media updates calibrated to FATF and EU Money LaunderingDirective (6MLD) for AML taxonomy alignment with the latest regulatory guidance.
  • Rich, assured, and dynamic live credit and risk profiles.

Raji Soussou, VP Global Partnership & Alliances for ComplyAdvantage commented:

“This is a powerful partnership. FullCircl’s Customer Lifecycle Intelligence platform combined with our rich data and screening tools means financial institutions can confidently identify a broad range of relevant risks efficiently and cost-effectively for faster onboarding, efficient compliance, dynamic risk assessment, and superior customer experiences.”

As reported in May 2023, criminals have never had more avenues through which to defraud people, according to an update from ComplyAdvantage.

This has been “fueled by the proliferation of technology ranging from instant messaging to new forms of remittance, like P2P and real-time payments.”

That’s why ComplyAdvantage, a key player focused on financial crime intelligence, announces the launch of Fraud Detection, its new solution “that uses machine learning algorithms to detect and prevent the menace of transaction-related fraud.”

Oliver Furniss, Chief Product Officer for ComplyAdvantage, said:

“Fraudsters are fast and creative, always looking for new vulnerabilities they can exploit. That’s why fraud is one of the most commonly experienced crimes affecting people every day, causing billions in losses to consumers and businesses. Banks and other financial institutions are constantly playing catch-up. Fraud Detection gives them an effective new way to monitor the millions of transactions they process every day and stop criminal activity in its tracks.”

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