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ComplyAdvantage expands ComplyLaunch AML program for North American FinTechs

By Edlyn Cardoza

October 19, 2021

  • AML
  • Complyadvantage
  • ComplyLaunch

ComplyAdvantage, ComplyLaunch, FinTech, North American, UK, USAComplyAdvantage, a global data technology company transforming financial crime detection, recently announced the North American expansion of ComplyLaunch a free program for FinTech startups. The program provides qualified startups with free access to the company’s AML and Know Your Customer (KYC) tools plus resources needed to uncover and reduce the threat of money-laundering activities so they can onboard new customers with lower risk and greater trust.

ComplyAdvantage is expanding the ComplyLaunch program into North America in order to help prepare U.S. and Canadian FinTech startups to take on one of the biggest challenges their businesses will face as a business which is money-laundering.

If transacting startups want to maximize their competitive advantage with new or expanded services, then they need intelligent AML and risk management data solutions to prevent the unintended consequences from unknowingly onboarding criminal entities.

Recent ComplyLaunch cohort members that have participated in the program include the global payments company Routefusion and mortgage innovator SafeRate.

“Our business is growing rapidly and we knew that early risk management would help to prevent unexpected issues related to money-laundering.  When we found ComplyLaunch, it was a no brainer to join the program – and we’re glad we did,” said Michael Cramer, Vice President of Operations, Routefusion.

“ComplyLaunch gives early-stage companies like Safe Rate access to world-class AML tools that would otherwise be out of reach due to costs. As a startup founder, it’s great to have this resource so we can on-board customers with greater integrity,“ said Dylan Hall, Co-Founder, Safe Rate. Those early-stage FinTech startups with no institutional funding are invited to apply for the program.

“It’s amazing to see all the incredible fintechs that have signed up to our program,” said Charles Delingpole, founder and CEO of ComplyAdvantage. “Not only is ComplyLaunch good for all the great companies that are participating but, it’s also great for our ecosystem. How a company addresses risk management is becoming a growing factor for everything from investment to partnerships.  We want our fellow startups to be successful and that’s why we continue to make our AML tools and training free.”

ComplyAdvantage offers a true hyperscale financial risk insight and AML data solution that leverages machine learning and natural language processing to help regulated organizations manage their risk obligations and prevent financial crime. The company’s proprietary database is derived from millions of data points that provide dynamic, real-time insights across sanctions, watchlists, politically exposed persons, and negative news. This reduces dependence on manual review processes and legacy databases by up to 80% and improves how companies screen and monitor clients and transactions.

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