Tool enables smarter and faster due diligence checks for users, ultimately reducing compliance risk.
Arachnys and Dow Jones today announced a partnership bringing together Arachnys’ D3 award-winning global due diligence platform with Dow Jones data. The partnership creates an enhanced end-to-end product which will enable users to conduct smarter and faster due diligence checks, ultimately reducing compliance risk.
Combining Arachnys’ D3 workflow and process technology with access to Dow Jones’ decision-ready intelligence and risk and compliance data provides a complete end-to-end solution for the collection of risk relevant data on companies, individuals, court documents, sanctions, adverse media coverage and a wide range of other information.
Through the tool, compliance practitioners will have access to thousands of premium news and information sources on more than 22 million public and private companies.
"Our collaboration with Dow Jones is yet another example of Arachnys’ ongoing commitment towards improving standards across the global compliance industry." said David Buxton, Arachnys CEO and co-founder. "Customer identification and enhanced due diligence are critical processes for regulated firms. Performing KYC and enhanced due diligence on prospective and existing customers is a time-consuming and often duplicative task requiring strong research skills. By adding Dow Jones' premium global business news and data to Arachnys D3 technology, KYC and EDD checks become deeper, safer and more agile.” Buxton continued.
"Global banks and corporations need increasingly innovative approaches to improve the effectiveness and efficiency of conducting due diligence," said Joel Lange, Managing Director of Dow Jones Risk & Compliance. "The combination of Dow Jones's risk and compliance data and Factiva’s premium global news archive with Arachnys' platform meets this demand by providing due diligence analysts with a powerful set of tools to better protect themselves and their organisation against compliance failure."
Many of the world’s leading financial institutions, corporates and law firms are using Arachnys’ technology to safely navigate their way through the huge amounts of risk-related data and manage their regulatory and reputation based risk in-house - going far and beyond basic sanctions and PEP list screening.