20 Most Promising Compliance Solution Providers 2015

There have been stiff penalties for companies failing to comply with anti-money laundering and anti-corruption regulations and laws over the past few years.

The compliance landscape is complex because businesses operate in several jurisdictions globally and each industry has its unique regulatory compliance requirements. Present day CIOs are looking for partners to help them understand, navigate and provide compelling solutions for their compliance stakeholders.

CaseWare Analytics provides a data analytics platform for auditing, risk and compliance professionals to meet these challenges. “CaseWare Analytics provides a single platform that monitors key compliance requirements to detect potential failures. Once detected, the system engages the business to remediate and then deliver intelligent insights to the compliance teams, allowing them to make adjustments,” says Andrew Simpson, COO, CaseWare Analytics.

The company’s Anti-Money Laundering (AML) Compliance platform integrates four distinct areas: Transaction Monitoring, Know Your Customer Compliance, Sanctions Screening and Regulatory Reporting.

Automated cross-channel monitoring detects and proactively address anomalous behavior and suspicious activities much quicker. “Our technology engages the business in creating a culture of compliance, while allowing the Compliance Department to be more strategic,” affirms Simpson.

For example, the system will automatically detect suspicious structuring of deposits and create a report to the regulators. Defined metrics and risk scoring within the technology facilitates a more sophisticated approach to knowing their customers. Having sanctions screening embedded in the same technology stack is a huge advantage as it helps drive the intelligence in the other modules.

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