Arachnys, the leading provider of cloud-based solutions for assessing financial crime customer risk and ensuring compliance for regulatory CDD, KYC and EDD requirements, announced today that Edward Sander has assumed the role of President.
"David Buxton has demonstrated exemplary leadership as Arachnys' Founder and CEO for the past 7 years. Under his stewardship, the company has pioneered a new platform for accelerating risk investigations, in the cloud, that reduces cost and accelerates revenue for the world's top global FIs," said Greg Meekings, Arachnys' Board Chairman and former Thomson-Reuters CIO. "We're incredibly excited to add a global executive of Ed's caliber to work with David and help drive Arachnys to the next level."
"At this juncture in Arachnys' journey, with the accelerating momentum and adoption for our D3 cloud platform at the world's top-tier financial institutions, the timing is right for us to bring an operating executive with proven experience building global businesses into the company," said David Buxton, Arachnys Founder and CEO. "I'm truly thrilled that Ed is joining as our President. His leadership experience, AML domain expertise and proven track record will help us take Arachnys to new heights and I look forward to working closely with him in the years ahead."
Edward Sander was most recently CEO of Model N, a Silicon Valley-based, cloud software company that pioneered the Revenue Management category. Prior to that, Mr. Sander spent five years at NICE Actimize as General Manager of its Anti-Money Laundering business and its Chief Product Officer before that. Mr. Sander brings two decades of experience running high growth, global enterprise software organizations. As General Manager of NICE's Actimize Anti-Money Laundering line of business, Mr. Sander oversaw product creation, solution delivery, go-to-market planning, and client relationship management activities. He is a known industry expert in the compliance disciplines of anti-money laundering (AML), know-your-customer (KYC), customer due diligence (CDD) and enhanced due diligence (EDD). Mr. Sander's expertise extends further into portfolio management and new product development across analytics, audit-compliance, business process management, and customer relationship management solutions for the banking, insurance, energy, and life science markets. Prior to Model N and NICE Actimize, he held leadership positions at SAP and IntraLinks.
"I am excited to join Arachnys as President because of our opportunity to help financial institutions transform their customer risk assessment processes," said Edward Sander. "David has created a company with a truly unique, cloud-based platform that leverages machine learning and robotic process automation unlike anything I've seen during my time in the AML industry. I'm fortunate to be joining the company now and partnering with David, and the Arachnys team, to lead the company into its next phase of growth."
Arachnys is the leader in cloud-based solutions for assessing financial crime customer risk and ensuring compliance for regulatory CDD, KYC and EDD requirements. Its D3 platform is a disruptive force in the industry, now adopted by 3 of the world's top 10 financial institutions and 4 of the world's top 10 accountancy companies. Through its proprietary, machine-learning algorithms and deep AML domain expertise, Arachnys harnesses data across 16,000 sources, 215 countries and 80 languages into a single cloud analytic platform, enriching and accelerating the customer risk assessment process. With Arachnys, financial institutions around the world are able to streamline and standardize their KYC, CDD and EDD processes for regulatory compliance, reduce operating costs and accelerate topline revenue. Arachnys is the registered trademark of Arachnys Information Services, Ltd.