back Back

Umazi collaborates with Artesian: DueDil to automate and accelerate SME corporate due diligence

By Joy Dumasia

February 02, 2022

  • AML
  • Artesian
  • Artesian: DueDil
Share

Artesian: DueDil, a leading UK FinTech tackling some financial services biggest challenges, is pleased to announce a new partnership with enterprise digital identity provider, Umazi. Aiming to set a new onboarding standard for due diligence processes in the SME market, the collaboration between these two influential digital leaders will uniquely facilitate a more streamlined and robust compliance landscape. 

Regulated institutions such as banks, FSIs, and law firms must continuously scrutinise the identity and validity of SMEs to assess and classify risk. However, despite being time-sensitive, these processes are typically inefficient. This unique partnership eliminates the burden by combining Umazi’s open-source permissioned blockchain platform with Artesian: DueDil’s Business Information Graph (B.I.G) to surface unique insights for advanced validation and verification at scale.

Justin Fitzpatrick, COO and Co-Founder at Artesian: DueDil, commented: “Businesses have suffered the consequences of onerous due diligence requirements and backwards processes for too long. Manual due diligence is not only expensive and time-consuming but also leaves financial services providers open to unnecessary risk. By working in partnership with Umazi, our aim is to facilitate the cross-industry adoption of more streamlined and continuously updated due diligence. It’s a solution that is faster, cheaper and more robust for both businesses and financial services providers.” 

Cindy van Niekerk, CEO of Umazi, added: “We are delighted to work with Artesian: DueDil, a partnership that we believe will act as a catalyst for change in the way financial institutions conduct their due diligence on corporate customers. Artesian: DueDil has a long-standing reputation for helping banks, insurers and FinTechs engage and onboard the right business customers. Umazi pioneering digital ledger technology adds to this, creating a re-usable identity that benefits businesses and financial institutions.”

Recently, IBS Intelligence reported that Artesian: DueDil announced its partnership with TechLabs London, a Microsoft Tier 1 Direct Cloud Solutions Provider. This partnership will deliver seamless integrations between Artesian: DueDil and Microsoft Dynamics 365, enabling banks, financial service institutions (FSIs), and insurance providers to dynamically monitor and analyse client risk profiles in real-time within their chosen CRM system. 

Previous Article

February 02, 2022

CUBE and LogicGate partner for a comprehensive regulatory compliance solution

Read More
Next Article

February 03, 2022

Fraction expands to the United States with new approach to home equity

Read More






IBSi Daily News Analysis

UAE, money transfer

May 23, 2024

AML

By 2034, the digital remittance market is expected to reach $83.2bn, research reveals

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

May 23, 2024

Zurich Insurance partners with BOXX to develop cyber risk solution

Read More

May 23, 2024

Data Zoo bags $22.7m in Series A from Ellerston JAADE to fuel global expansion

Read More

May 22, 2024

SurePay teams up with FIS to deliver Verification & CoP solutions

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