ComplyAdvantage tapped by Hampshire Trust Bank for AML solution

ComplyAdvantage will provide UK business lender Hampshire Trust Bank (HTB) will a suite of anti-money laundering (AML) solutions.

ComplyAdvantage CEO, Charlie Delingpole

HTB’s says its rapidly expanding client base and movement into new markets means increased risks of financial crime.

ComplyAdvantage’s AML solutions include customer screening and onboarding, adverse information and media, transaction monitoring and transaction screening.

The vendor says these real-time AML capabilities provide “better control and scalability” and work to uncover hidden risks throughout the customer lifecycle, helping banks maintain compliance oversight.

Headquartered in London, the company uses artificial intelligence, machine learning and natural language processing to help organisations manage risk obligations.

It claims it can reduce dependence on manual processes and legacy databases by up to 80%.

HTB chief compliance officer, Nick Hawke, says: “ComplyAdvantage represents a key step in maturity by consolidating all screening and transaction monitoring into a single hosted platform, which delivers a robust and reliable solution.”

Source: https://www.fintechfutures.com/2021/10/complyadvantage-tapped-by-hampshire-trust-bank-for-aml-solution/