Conduct Smarter Identity Searches And Contextualized Risk Indicators Using The World’s Largest Database Of People and Businesses
ComplyAdvantage, a global data technology company transforming financial crime detection, announced the release of a new tool called ComplyTry™ enabling anyone to better understand the risk profiles of prospective customers using live sanctions, Politically Exposed Persons (PEPs) and adverse media data for free.
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The cornerstone of a successful anti-money laundering (AML) program is not only thorough background checks, but also the context that surrounds each identity – people and/or businesses – and whether this context signals any form of illegal behavior, intent, history or association.
Compliance teams throughout the financial services industry are challenged daily to analyze, extract and validate identities that have elevated risk attributes with the ultimate goal of preventing financial crimes before they happen. Given the growing volume, velocity and complexity of financial crime, the task of identifying the potential for risk exposure through contextual analysis has become increasingly complex and time-consuming.
However, with advances in data and machine learning, ComplyAdvantage has optimized this laborious and lengthy process making it fast, accurate and free. With ComplyTry, anyone has the ability to search and assess risk signals that may surround an identity using the company’s real-time database of sanctions, watchlists, PEPs, adverse media and more.
Simply input the details and select the data sources you want and then press enter. Each result will be represented by a card that reveals a full and extensive profile with all relevant risk signals included.
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The benefits of ComplyTry are numerous, including:
- Ability for anyone to run background checks that are more thorough than search engines using a database that’s tailored to find and prevent financial crime.
- Conduct smarter searches with matches found by existing screening providers.
- Leverage intelligent negative news insights that are aligned to the latest Financial Action Task Force (FATF) and EU AMLD recommendations
“We decided to offer ComplyTry after having an incredible response to our ComplyLaunch™ program which offers free access to AML and KYC tools for startups,” said Kanisha Patel, Head of ComplyLaunch at ComplyAdvantage. “Like ComplyLaunch, our goal is to continue to democratize access to vital AML tools and information to better fortify our ecosystem against the threat of financial crimes. By making these sorts of programs and tools accessible, everyone from startups to established financial firms will benefit.”
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 including the company’s much lauded State of Financial Crime2022 Report, Evolving Use and Sanctions and most recently the Anti-Money Laundering Guide for Growing Crypto Firms.
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