We want to create a world where everyone can have confidence in the people they do business with.
We connect global financial institutions and corporations to all the information they need to make confident, fast on-boarding and investigative decisions. Our data gateway allows you to capture, curate and connect any information on people and companies for faster KYC, AML and EDD processes, and we’re trusted by some of the world’s biggest brands.
Founded in 2010, no other vendor combines data source expertise with content automation, data curation tools and a connectivity suite of APIs to channel intelligence directly into your organization’s IT infrastructure.
AML & Investigations
Surface the content that matters, reduce duplication, manual effort and increase data re-use.
When David Buxton (CEO & Founder) worked as an investigator at Control Risks, one of his biggest projects was supporting risk assessment of companies selling big capital goods – transformers, generators, MRI scanners – to Russian companies.
He realized that the fundamental opportunity for better compliance and investigations was connecting to and bringing together disparate data points that helped customers really understand the risks of counterparties.
At the time, the problem for his clients was that the companies they were selling through were often shell companies, simply used as a passthrough for fraud and bribes. Procurement officers and senior management would channel purchases through the companies to take a personal cut of company or government transactions.
David’s customers needed to understand the risk of this corrupt activity better to protect themselves. Their initial thought was to turn to databases like World-Check, but those databases didn’t at all address the risks David’s customers faced in reality. Customers were incurring huge compliance risk but traditional data sources had a 0% effectiveness rate.
David realized that in fact the data to make good decisions did exist, it was just very difficult for non-specialists to find, and time-consuming even for skilled investigators to gather. In these cases, the most salient data available was actually around beneficial ownership – which helped tell whether or not a specific company was actually adding value in the transaction – and real estate (having a warehouse validated whether there was a real physical role to the company’s involvement or if they were just a conduit for cash).
The rationale behind Arachnys’ foundation was to create a platform for synthesizing meaningful data for risk decisioning processes out of a world of fragmented, sometimes inaccessible data sets.
Arachnys, the market-leading platform enabling financial institutions to have confidence in all their KYC, AML and EDD decisions, today announced the key appointment of Greg Watson to their advisory board.
A former Managing Director at HSBC for seven years, including
KYC, CDD and KYC refresh given a major boost in efficiency through digitising KYC and investigative processes.
Major financial institutions enlisting the support of one of the UK’s leading contingent resourcing firms, to staff key projects around KYC, CDD and
Arachnys platform augments Standard Chartered’s global AML monitoring strategy, with a focus on counterparty review and investigations.
LONDON, UK, June 19, 2020 / Arachnys — Arachnys, a market-leading platform enabling financial institutions to have confidence in all their KYC, AML