ComplyAdvantage Expands Across London and New York To Meet Global Demand for AI-Compliance Solutions

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ComplyAdvantage grew ARR by 300% year-over-year and doubled headcount; plans new hires and offices in 2019

ComplyAdvantage, the regtech company that uses data science and Machine Learning to neutralize the risk of global financial crimes, today announced its expansion in two top financial services markets, London and New York, to service the growing demand for modern compliance solutions.

ComplyAdvantage opened two commercial offices: Covent Garden in London and Bryant Park in New York, with a third office in Asia-Pacific slated for later this year. Since July 2018, the company has grown in ARR by 300% and more than doubled its headcount, now employing more than 200 people around the world.

“We’re strengthening our foothold in major global financial markets as we continue to build the world’s only global AI-driven database of people and companies to power anti-money laundering and financial crime detection,” said ComplyAdvantage founder and CEO Charlie Delingpole. “Following the 2018 money laundering scandals such as Danske and Swedbank, compliance is now seen as it should be—as a business enabler, and with the right technology, it doesn’t need to be a painful or expensive process.”

Despite stronger regulations, the United Nations Office on Drugs and Crime estimates that $2 trillion is laundered globally every year, while less than 1% of these funds are ever detected. In a recent white paper, “A New Dawn For Compliance,” the company reveals how old compliance solutions are failing and highlights the need for regtech to allow organizations to automate compliance functions to innovate against risk and generate results.

ComplyAdvantage embraces data science and Machine Learning to analyze risk computationally, and actively identifies tens of thousands of risk events from millions of structured and unstructured data points every day. The company’s configurable cloud services help automate and reduce the frustration of detecting fraud and complying with sanctions, anti-money laundering (AML) and counter-financing of terrorism (CFT) requirements.

“As banks and other organizations work to curb financial crime and get ahead of increasingly complex regulatory demands, they’re looking for an efficient and effective solution that’s tailored to their needs. We’re thrilled to be expanding our business, opening new offices and making key hires so we can help more global companies address their financial crime risk” said Delingpole.

ComplyAdvantage expects to exceed growth targets by the end of the year and open three more offices globally by the end of 2019.

About ComplyAdvantage:

Compliance doesn't have to be painful. ComplyAdvantage gives businesses the financial crime insight they need to take control.

Their data and technology help you to uncover the risk of who you're doing business with, using the world's only dynamic global risk database of people and companies. Their suite of configurable cloud services integrates seamlessly to help automate and reduce the frustration of complying with Sanctions, AML and CFT regulations.

Founded in 2014 ComplyAdvantage work with over 450 firms across 45 countries. In January of this year, they raised $30 million in their Series B fundraising round led by Index Ventures and joined by Balderton Capital. For more information, go to http://www.complyadvantage.com.

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Lila Ritger
ComplyAdvantage
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