Alaco Analytics announces partnership with ComplyAdvantage

 

Alaco Analytics has partnered with ComplyAdvantage to integrate its award-winning AML screening and monitoring solutions into EDDie, Alaco Analytics’ crypto-focused due diligence platform.

EDDie allows users to run automated Enhanced Due Diligence checks on their customers and their customers’ Bitcoin funds, instantly and simultaneously.  The integration of ComplyAdvantage’s risk monitoring tools will allow EDDie users not only to meet regulatory obligations, but to conduct ongoing risk reviews, gather wider reputational intelligence, and assess those risks alongside source of funds data from the blockchain.

Already the preferred choice of some of the world’s largest banks, enterprises and high-growth fintechs, ComplyAdvantage uses machine learning and natural language processing to help regulated organizations manage their risk obligations and prevent financial crime. The company’s proprietary database is derived from millions of data points that provide dynamic, real-time insights across sanctions, watchlists, politically exposed persons, and negative news.

 

“We’re extremely pleased to partner with ComplyAdvantage”, said Henry Burrows, co-founder of Alaco Analytics.  “Their experience in serving technology firms like ours makes it a perfect fit.  And for the cryptocurrency sector in particular, which is going through such rapid regulatory changes, it gives our customers great comfort to know that we are partnered with them.  We are looking forward to developing more innovative solutions through this partnership going forward.” 

 “We are very happy to be partnering with Alaco Analytics to further enhance the company’s crypto-focused due diligence workflows with our robust AML technologies,” said Charles Delingpole, founder and CEO of ComplyAdvantage. “The partnership will provide Alaco Analytics with a state-of-the-art monitoring solution and help to achieve the joint goal of providing a seamless onboarding experience to all customers.”

 

About Alaco Analytics

Alaco Analytics provides integrity due diligence reporting and transaction monitoring for the digital asset space.  Its solutions combine in-depth public records research with blockchain analysis to help crypto businesses identify and assess risks associated with counterparties whose activities span the traditional and digital realms.  Its AML platform, EDDie, is designed specifically to help crypto businesses meet regulatory obligations and protect against reputational risk.  Alaco Analytics is a subsidiary of global business intelligence firm Alaco and is backed by Swedish venture capital company Katalysen & Partners.  Read more at alacoanalytics.com

 

About ComplyAdvantage

ComplyAdvantage is the financial industry’s leading source of AI-driven financial crime risk data and detection technology.  ComplyAdvantage’s mission is to neutralize the risk of money laundering, terrorist financing, corruption, and other financial crime.  More than 500 enterprises in 75 countries rely on ComplyAdvantage to understand the risk of who they’re doing business with through the world’s only global, real-time database of people and companies.  The company actively identifies tens of thousands of risk events from millions of structured and unstructured data points every single day.

ComplyAdvantage has four global hubs located in New York, London, Singapore and Cluj-Napoca and is backed by Ontario Teachers’, Index Ventures and Balderton Capital.  Learn more at complyadvantage.com.

 

For Alaco Analytics

Henry Burrows

Phone: +44 (0) 207 087 8660

Email: analytics@alaco.com

For ComplyAdvantage

Tim Donovan

Phone: +1 510 593 0064

Email: Tim.Donovan@ComplyAdvantage.com

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