back Back

UK-based RegTech start-up GSS raises £37m

By Gloria Methri

January 24, 2023

  • AlixPartners
  • Compliance Regulatory
  • Global Screening Services
Share

Global Screening Services (GSS), RegTech, Sanctions Screening, Compliance, Regulatory, UKLondon-based RegTech firm Global Screening Services (GSS) has completed its initial funding round, raising over £37 million from investors including AlixPartners, The Cynosure Group, and MUFG.

Randal Quarles, chairman, and co-founder of The Cynosure Group has joined the GSS board. William Langford, Global Head of Financial Crimes Compliance and Chief Compliance Officer for the Americas at MUFG, will serve as an observer to the Board.

Incubated by AlixPartners in 2021, Global Screening Services is now a standalone company with over 140 people supporting the business on a full-time basis. The platform establishes new standards and leverages technology, including artificial intelligence, and an ecosystem of financial institutions and industry partners to provide streamlined compliance screening for sanctions.

Tom Scampion, CEO of GSS said, “Sanctions screening is both an international security imperative and one of the major sources of friction in the global payment system – at a time when consumers and businesses are increasingly demanding real-time settlement. GSS is uniquely positioned to deliver improved regulatory compliance and an enhanced customer experience. We are delighted to have closed this funding round and to be working with such incredible partners to take the business to market.”

John Cusack, Chair of the GSS Development Board said, “The future of compliance will be partnerships and platforms, GSS is both. Working with banks, regulators, and the industry as a whole, the platform will improve standards, reduce cost and help deliver effective compliance worldwide.”

Randal Quarles, Chairman, and Co-founder of The Cynosure Group added, “Cynosure invests in rapidly growing, founder and management-owned businesses. Within the world of screening, GSS is the right business at the right time, addressing a problem that is well understood but until now, poorly addressed. We are excited to be partnering with Alix Partners and the GSS management team to be a part of this solution.”

Previous Article

January 24, 2023

JumiaPay and Contact Creditech partner to expand access to financial services in Egypt

Read More
Next Article

January 25, 2023

Visa partners with INJAZ Egypt to promote financial literacy

Read More






IBSi Daily News Analysis

UAE, money transfer

June 14, 2024

AlixPartners

Digital remittances surge as key lifeline amid global economic challenges, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

June 14, 2024

Fingerprints partners with Italy’s WiBioCard for smart card solutions

Read More

June 14, 2024

IDVerse brings Identity Verification solution to Temenos Exchange

Read More

June 14, 2024

Lumin Digital & Pinwheel team to strengthen Banks and Credit unions

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023