Tuum, a core banking platform, is proud to announce its partnership with ComplyAdvantage, a firm focused on financial crime intelligence.
This partnership leverages Tuum’s API-first approach in order “to integrate complementary solutions, ensuring that financial institutions can meet their unique needs effectively and efficiently with a modern solution, providing advanced tools to detect and prevent financial crimes seamlessly.”
Tuum’s API-first and cloud-native architecture “enables seamless integration with top-tier technology solutions.”
While this partnership with ComplyAdvantage “helps financial institutions quickly adapt to regulatory changes and improve their compliance posture, Tuum also integrates with other solutions to deliver a comprehensive end-to-end proposition beyond core capabilities.”
By partnering with ComplyAdvantage, Tuum expands its platform’s capabilities “to offer robust, real-time financial crime detection and compliance solutions. This partnership underscores Tuum’s commitment to providing comprehensive, region-specific solutions that are deployed quickly and address the complex regulatory requirements of the financial industry.”
Tuum clients will gain access to an array of sophisticated compliance solutions, including:
- Real-Time AML Screening: Automated, real-time monitoring to swiftly identify and report suspicious transactions.
- Holistic Risk Assessment: Utilizing AI and machine learning for comprehensive risk evaluation and actionable insights.
- Efficient Onboarding: Streamlined, compliant customer onboarding to save time and reduce costs.
Kanisha Patel, Global Partnerships Lead, ComplyAdvantage said:
“We are delighted to partner with Tuum to offer our advanced, AI-driven financial crime intelligence products alongside Tuum’s core banking platform. We believe every financial institution can – and must – have access to best-in-class risk management solutions. This partnership is an important milestone on that journey.”
Jean Souto, VP Global Partnerships at Tuum, stated:
“This alliance with ComplyAdvantage allows us to provide our clients with unparalleled compliance solutions, reinforcing our commitment to delivering cutting-edge, adaptable banking technology. By leveraging our cloud-native platform and partner marketplace, we can deploy end-to-end regional solutions quickly and flexibly, ensuring financial institutions are equipped with the necessary tools to operate efficiently and competitively in their respective regions. This modern approach enables faster compliance, reduces business risk, and increases operational efficiency, empowering financial institutions to meet regulatory demands head-on while driving their business forward.”
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 1,000 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 five global hubs “in New York, London, Singapore, Cluj-Napoca, and Lisbon and is backed by Andreessen Horowitz, Goldman Sachs, Ontario Teachers, Index Ventures, and Balderton Capital.”