Arachnys, the leader in Customer Risk Intelligence solutions for Client Onboarding, Know Your Customer (KYC), Customer Due Diligence & Enhanced Due Diligence (CDD/EDD) and Anti Money Laundering (AML), announced that it is partnering with BAE Systems, a proven enterprise solution provider of advanced analytics, to address anti-money laundering and compliance obligations and delivering accurate and efficient fraud detection and prevention.
The partnership between BAE Systems’ NetReveal solution and Arachnys’ cloud-native Customer Risk Intelligence platform will enable mutual customers to benefit from streamlined due diligence processes, ongoing monitoring, improved KYC profile record completion and agile customer risk scoring.
Arachnys’s dynamic capabilities to support KYC, remediate transaction monitoring alerts and screen and monitor for negative events, give financial institutions a faster and more accurate understanding of ongoing risk across all customer populations.
These capabilities combined with NetReveal’s advanced detection analytics, investigator-centric design and modernized modular technology will enhance investigations and speed up the adjudication of alerts, integrated automated workflow capabilities (RPA), providing a single source of beneficial ownership and corporate structures in line with evolving regulations.
Ed Sander, President of Arachnys said: “We are delighted to partner with BAE Systems to improve the security and risk management of financial institutions. The comprehensive capabilities of our Customer Risk Intelligence platform provides rapid integration and solutions for a wide variety of customer risk evaluation across KYC, CDD and AML use cases”.
Robert Harrison, Head of Product and Solutions, Financial Services, BAE Systems Applied Intelligence said: “Due to evolving regulations, it is taking longer to onboard customers, NetReveal applies a faster, smarter, intelligence-led approach to KYC. Our partnership with Arachnys will provide more efficient verification and validation through data enrichment; driving down onboarding times, improving operational efficiency and fighting financial crime.”