Arachnys & BAE partner to accelerate AML compliance investigations

Ed Sander, President of Arachnys

UK-based companies Arachnys and BAE Systems have decided to partner with their respective platforms Customer Risk Intelligence Platform and NetReveal to accelerate AML compliance investigations, streamline KYC onboarding and ongoing due diligence, and calculate real-time risk scoring.

Arachnys specialises in Customer Risk Intelligence solutions while BAE Systems is an enterprise solutions provider for advanced analytics. Both companies have experience in the field of Client Onboarding, Know Your Customer (KYC), Customer Due Diligence & Enhanced Due Diligence (CDD/EDD) and Anti Money Laundering (AML).

Ed Sander, President of Arachnys said, “We are delighted to partner with BAE Systems to improve the security and risk management of financial institutions. The comprehensive capabilities of our Customer Risk Intelligence platform provide rapid integration and solutions for a wide variety of customer risk evaluation across KYC, CDD and AML use cases”.

The partnership is aimed at the mutual benefit of their respective customers by streamlining various processes.

According to the supplier, Arachnys’ dynamic capabilities to support KYC, remediate transaction monitoring alerts and screen and monitor for negative events, give financial institutions a faster and more accurate understanding of ongoing risk across all customer populations. These capabilities combined with NetReveal’s advanced detection analytics, investigator-centric design and modernized modular technology will enhance investigations and speed up the adjudication of alerts, integrated automated workflow capabilities (RPA), providing a single source of beneficial ownership and corporate structures in line with evolving regulations.

Robert Harrison, Head of Product and Solutions, Financial Services, BAE Systems Applied Intelligence said, “Due to evolving regulations, it is taking longer to onboard customers, NetReveal applies a faster, smarter, intelligence-led approach to KYC. Our partnership with Arachnys will provide more efficient verification and validation through data enrichment; driving down onboarding times, improving operational efficiency and fighting financial crime.”

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