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arachnys.com

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Founded Year

2010

Stage

Acquired | Acquired

Total Raised

$7M

About Arachnys

Arachnys is a provider of business intelligence solutions related to emerging markets. The company offers a technology that allows companies to search for data on the world's economies from Africa to South-East Asia, Central Asia, and Latin America. Users can search documents using English keywords and find official info, related, for example, to litigation, corporate press releases, and news.On March 4th, 2021, Arachnys was acquired by AML RightSource. The terms of the transaction were not disclosed.

Arachnys Headquarter Location

63/66 Hatton Garden Fifth Floor Suite 23

London, England, EC1N 8LE,

United Kingdom

+44 (0)20 7193 0987

Latest Arachnys News

Arachnys KYC Survey Confirms Industry Demand for Automation of Customer Monitoring

Apr 30, 2021

82% admit to using Google for due diligence or risk investigations Analysts are still spending nearly half their time processing data into a usable format Over half need better external data on people and companies 60% only update and re-align data sources with policies once or twice annually Building on the great insights of their 2020 survey, Arachnys globally surveyed 172 AML & KYC professionals, with 60% working in the financial sector. The survey also details some of the main goals industry professionals are looking to achieve in the near term, with 32% looking to reduce false positives, 24% looking to automate manual processes, and 20% looking to create a single customer view. Marketing Technology News:  https://martechseries.com/sales-marketing/customer-experience-management/alliance-develops-shared-diversity-inclusion-goals/ David Buxton, founder and CEO at Arachnys commented “Last year we discovered that KYC and AML analysts still need broader and deeper access to company data, and that has not changed. As FIs look to accelerate processes to onboard, screen and investigate customers, the need for better data reinforces the fact that there is no single source of truth. Coupled with this requirement, is an obvious demand in the ability to automate the monitoring of customer changes and building a more accurate and proactive risk picture.” Chuck Taylor, Executive VP, Head of Financial Crimes Advisory at AML RightSource added “A point in time KYC review can be both ineffective and inefficient. The moment it is completed it is stale and can leave the door open to unnecessary risk. The only reasonable point in time review should be at onboarding, from that point on KYC should be fluid and dynamic. Automated tools that identify customer risk through continuous monitoring, while only surfacing what is new, save time and enhance the control environment.” Marketing Technology News:  https://martechseries.com/mts-insights/interviews/martech-interview-with-clarence-kam-chief-product-officer-at-jwplayer/ PR Newswire, a Cision company, is the premier global provider of multimedia platforms and distribution that marketers, corporate communicators, sustainability officers, public affairs and investor relations officers leverage to engage key audiences. Having pioneered the commercial news distribution industry over 60 years ago, PR Newswire today provides end-to- end solutions to produce, optimize and target content -- and then distribute and measure results. Combining the world's largest multi-channel, multi-cultural content distribution and optimization network with comprehensive workflow tools and platforms, PR Newswire powers the stories of organizations around the world. PR Newswire serves tens of thousands of clients from offices in the Americas, Europe, Middle East, Africa and Asia-Pacific regions. Prev Post

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Expert Collections containing Arachnys

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Arachnys is included in 4 Expert Collections, including Regtech.

R

Regtech

1,342 items

Technology that addresses regulatory challenges and facilitates the delivery of compliance requirements in FIs. Regulatory technology helps FIs and regulators address challenges ranging from traditional compliance and risk management to data reporting and transmission.

C

Capital Markets Tech

802 items

Companies in the capital markets tech space are providing software and/or services for investment banks, hedge funds, investment managers, and so forth. Companies included use technology across the front, middle, and back-offices and streamline all pre- and post-trade operations.

F

Fintech

19,054 items

Excludes US-based companies

D

Digital ID In Fintech

268 items

For this analysis, we looked at digital ID companies working in or with near-term potential to work in fintech applications. Startups here are enabling fintech companies to verify government documents, authenticate with biometrics, and combat fraudulent logins.

Arachnys Web Traffic

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