ComplyAdvantage

ComplyAdvantage was born out of the frustration experienced first-hand by our founder, Charles Delingpole. Despite trying tool after tool to manage his responsibilities as an MLRO, they all had the same issues: being difficult to integrate, hard-to-use, and poor at providing relevant alerts.

‘False-positives’ impair the ability of compliance professionals from stopping financial crime and the activities it facilitates such as human trafficking and terrorism.

The importance of addressing this issue ultimately led Charles to found ComplyAdvantage in 2014.

Existing solutions rely on manual labor to input and update data. Unfortunately, there is a limit to how frequently this can be done, resulting in data that can be months out of date. This results in false-positives and also allows recently sanctioned entities to slip through the net.

We have set up a radically different technical architecture, leveraging data science and machine learning to understand risk computationally. While we still review data manually, our approach results in data being updated in minutes rather than months.

This new approach, along with our commitment to making it as easy as possible to integrate our solutions and proactive customer support, has paid dividends. We have won multiple awards, including ‘Best onboarding’ for Santander, and has led to rapid growth – currently we have over 400 customers across 45 countries with over 200 employees.