Arachnys Receives Top Accolades From Chartis Research
Arachnys, the leader in Customer Risk Intelligence solutions for Know Your Customer (KYC), Anti Money Laundering (AML) and Customer/Enterprise Due Diligence (CDD/EDD), today announced it has ranked 65th in the Chartis RiskTech100® in its first year submitting an application. The RiskTech100®, now in its 13th year, is the leading evaluation of the world’s top 100 providers in risk and compliance markets. The company was also recognized as a KYC Category Leader in the Chartis Financial Crime Risk Management Systems: Know Your Customer Market Update report.
The RiskTech100® highlights the fact that financial institutions are facing significant market pressures to modernize their KYC systems and processes. Addressing these market dynamics involves a risk information management approach to capture and reuse investigative knowledge, taking an entity-centric approach to risk decisioning, supported by evaluation and refinement of risk data sources, content and policy management.
Arachnys was rated well for innovation, which Chartis assesses based on its analysis of vendors’ new product development, ability to position their offerings and capability in developing new business models. The company also scored well for its core technology, which includes data management, risk analytics and reporting and visualization.
“As financial institutions look to develop and refine their increasingly complex KYC systems and processes,” said Rob Stubbs, Head of Research at Chartis, “they are looking for more possibilities and flexibility to address their challenges. Arachnys’ ranking in the RiskTech100® reflects its functionality and ongoing innovation.”
“We are proud to be included in the RiskTech100®. The submission process was rigorous, and we appreciate Chartis’ recognition of our expertise in data, machine learning and RPA to augment analyst productivity and knowledge in the fight against financial crime,” said Ed Sander, President of Arachnys. “Their recognition is testament to the unique value our Customer Risk Intelligence platform brings financial institutions in their KYC, AML and CDD/EDD efforts.”
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