Automated AML, KYC & Due Diligence Solutions for Corporate & Investment Banks
Global penalties for non-compliance with Anti-Money Laundering (AML) and Know your Customer (KYC) processes have hit and all time high for financial institutions. Regulatory pressure combined with cost cutting means corporate and investment banks are required to reduce financial crime, improve customer onboarding whilst simultaneously reducing overheads and increasing efficiency across teams.
Arachnys have deep domain expertise in working with corporate & investment banks to provide cloud-based solutions that align with their risk policy and reduce the burden of manual, laborious and inefficient processes.
Backed by unparalleled global data sources, we provide the tools to help you automate and accelerate manual effort in supply chain due diligence, customer and vendor onboarding, monitor adverse media and mitigate reputational risk.
Industry Problems
The average onboarding time for corporate banking customers is a staggering 90-120 days (Oliver Wyman's Global KYC benchmarking study on Global Banking & Markets KYC).
Global penalties have reached USD $36 billion for non-compliance with Anti-Money Laundering, Know Your Customer and sanctions regulations since the financial crisis.
KYC teams are having to perform laborious, repetitive and highly manual processes, across siloed data, to keep up with a backlog of traditional KYC periodic review cycles.
Arachnys Solutions
Automated AML & Investigations
Automated KYC & Onboarding
Automated Enhanced Due Diligence
We channel data into your ecosystem
We act as a single lens, accessing and enriching the best KYC & AML data from global sources, which connects your compliance ecosystem to the data you need to make more confident compliance decisions.
Benefits
Features
How we helped a tier 1 investment bank avoid $100M of remediation costs
One of the world’s largest investment banks needed help with ‘top up’ research; their clients expanded across new geographies, and their KYC files needed to meet new country-specific regulatory requirements across more than 150 jurisdictions. Learn how Arachnys helped them achieve complex customer profile enrichment, reduced from days to hours in a single working environment.
Follow our AML & KYC Blog
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Arachnys and PwC Singapore partnership brings digital KYC & AML solutions to Singapore
Strategic partnership to bring machine learning powered solutions for KYC, AML and Adverse Media Monitoring to Singapore. Arachnys, the market-leading platform who accelerate onboarding for financial institutions with intelligent Know Your Customer (KYC) and Anti-Money Laundering (AML) data, announce a
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AML challenges for 2021: 6MLD, Brexit and Covid-19
The New Year message on money laundering could hardly have been clearer. Just seven days into 2021, HM Revenue & Customs published its latest list of businesses fined for breaches of money laundering regulations – including a record £23.8m
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What is an Effective and Reasonably Designed AML Program?
A Review of Recent and Upcoming BSA/AML Reform It seems financial institutions are inundated these days by headlines and news related to anti-money laundering and combating the financing of terrorism (AML/CFT). The U.S. is applying a multi-layered approach to implement