Accuity, the leading provider of financial crime compliance, payments and counterparty know-your-customer (KYC) solutions, announced today that it has been recognised by Chartis Research as a category leader in the RiskTech Quadrant® for watchlist monitoring solutions. The watchlist monitoring solutions category features in Chartis’ 2017 Financial Crime Risk Management update report.
The Chartis report examines financial crime risk management systems across four areas: enterprise fraud, AML and transaction monitoring, KYC and client on-boarding, and watchlist monitoring, and covers key trends and challenges as well as the competitive landscape. For the RiskTech Quadrant® for watchlist monitoring solutions, Chartis analyses the industry to rate firms based on the completeness of their offering and their market potential.
Accuity’s position on the 2017 RiskTech Quadrant® for watchlist monitoring solutions reflects its success in combining data and technology within the Fircosoft portfolio of financial crime compliance screening solutions to give customers a clearer picture of risk. Accuity began integrating Fircosoft, a world leader in watchlist filtering software, when it was acquired by RELX in 2014, and the Fircosoft solutions have added an essential dimension to Accuity’s compliance portfolio, helping the business deliver exceptional risk and regulatory protection to customers around the globe.
Accuity’s placement in the RiskTech Quadrant® for watchlist monitoring solutions also reflects its strong commitment to investing in market-driven innovation. At a time when financial institutions are increasingly looking for new technologies to improve customer experience and manage compliance risks, Accuity has evolved its RegTech offering, incorporating machine learning into its false positive reduction capability and successfully integrating its financial crime screening solutions within Corda – R3’s enterprise-grade distributed ledger technology (DLT) platform.
Hugh Jones, President and CEO, Accuity, said: “our clients are faced with a balancing act; on the one hand they are required to meet proliferating levels of regulation and safeguard against risk, and on the other, they are tasked with streamlining their operations and reducing the burden and cost of compliance for their organisations.
“At Accuity, we understand both sides of this challenge and are continually striving to enhance our RegTech offering, by embracing new technologies, such as machine learning and DLT, so our clients can achieve both efficiency and rigour in financial crime compliance.
“We are proud that Chartis Research has recognised our success to date and commended our strategic vision in the 2017 Financial Crime Risk Management report.”
Sid Dash, Research Director, Chartis Research, commented: “Accuity combines data and technology, and invests in innovation – all important features in the watchlist monitoring market. Its market potential and completeness of offering ratings reflect its solutions and its strategy for sustainable growth.”