ComplyAdvantage, a global data technology company transforming financial crime detection, today announced that it was named a category leader in Chartis Research’s 2022 Watchlist Screening and Monitoring Quadrant.
The Chartis Watchlist Screening and Monitoring Quadrant highlights screening and monitoring solutions across the financial crime space, including screening against Sanctions, PEPs, Watchlists, and more.
Banks, financial institutions (FIs), FinTechs, and other non-FIs all face significant regulatory, operational, and market pressures making these areas related to customer screening and monitoring of significant interest and importance.
As it relates to the Watchlist Screening and Monitoring Quadrant, Chartis provides an initial combined view of a vibrant and diverse market, with additional deep dives into solution areas and many other observations that are critical to the industry.
“ComplyAdvantage achieved a Category Leader ranking in the Watchlist Monitoring quadrant, demonstrating particularly strong scores for its packaging and data methodologies, including deployment and delivery and the flexibility to meet many different needs and requirements,” said Ahmad Kataf, Research Specialist at Chartis. “Among its differentiators are its ability to manage data and its effective blend of traditional and advanced technology applications.”
As the report noted, many solution providers are expanding to provide end-to-end solutions, but in reality, this approach seldom fits every business case. In the Watchlist Screening and Monitoring Quadrant, Chartis explores what the defining characteristics of a best-in-class vendor are relative to the various end-user needs. The report examines the approaches to increasing screening efficiency that different vendors adopt, from AI/ML to automation, and draws out good practices. This report will be positioned towards the end-user as much as vendors.
“We are excited to be named as a category leader in the 2022 Chartis Watchlist Screening and Monitoring Quadrant,” said Charlie Delingpole, founder, and CEO of ComplyAdvantage. “Given the growing volume, velocity, and complexity of financial crimes worldwide, the key to fighting financial crime at scale is automated counter-risk intelligence. At ComplyAdvantage, our goal has been to harness the power of data and machine learning to help our customers prevent financial crimes before they happen. Making this year’s Chartis quadrant further validates that we’ve built something of significance in the market and, most importantly, to the customers we serve.”
Already the preferred choice of some of the world’s largest banks, enterprises, and high-growth FinTechs, ComplyAdvantage uses machine learning to help regulated organizations manage their risk obligations and prevent financial crime. ComplyAdvantage is also a leader in providing anti-money laundering insights that include the company’s much-lauded State of Financial Crimes 2022 Report, Evolving Use and Sanctions, and most recently the Anti-Money Laundering Guide for Growing Crypto Firms.