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RDC & HSBC to fight money laundering with customer screening solutions

Tom Walsh, CEO of RDC

Compliance screening solutions provider Regulatory DataCorp (RDC) has announced the extension of its agreement with HSBC for the provision of next-generation customer screening technology for combating financial crime.

“We are impressed by HSBC’s commitment and proven expertise in the fight against all forms of global financial crime. We are extremely pleased to offer the industry gold-standard data and innovative technologies to enable their ongoing success,” said Tom Walsh, RDC CEO. “We are committed to keeping criminals out of the global financial system and standing side-by-side with HSBC in that fight serves both our missions well.”

The partnership allows HSBC to screen news metadata consolidated by RDC with an aim to reduce relevant risks while reducing false positives. Therefore, the bank’s risk-based compliance procedures can be adjusted accordingly. RDC and HSBC aim to deploy advanced AI solutions that are capable of reducing false positives and transform into significant cost savings for  HSBC.

Established in 2002 in Prussia, RDC is a Smarter Screening company that aims to deliver automated, intelligent customer screening and decision-ready intelligence. They aim to strengthen their KYC/AML, fraud and Politically Exposed Persons (PEPs) protection, ensuring sanctions and watchlist compliance, protecting their brand and reputation and managing supply chain and vendor risks

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