Arctic Intelligence’s enterprise risk assessment software adopted by PwC
Arctic Intelligence recognised as a leading regulatory technology provider by one of the top 4 consultancies in the world
PRESS RELEASE: Arctic Intelligence was chosen by PwC UK to enhance their Risk Assurance offering. The combination of PwC’s consultancy expertise and Arctic Intelligence’s award-winning technology aims to deliver a comprehensive enterprise view of PwC’s client’s vulnerabilities to financial crimes. The solutions financial crime topics include money laundering/terrorist financing, bribery and corruption, sanctions, fraud with more risk domains to follow such as modern slavery, human trafficking, wildlife trafficking and tax evasion.
‘We at PwC are thrilled to be partnering with Arctic Intelligence, a leading global RegTech firm who have developed a forward-thinking risk assessment model which will bring deeper insights into our clients risks and controls. The opportunities in using data driven assessments to help with financial crime risk management is now possible with the Arctic Intelligence Risk Assessment Platform.’ Matthew Russell (Partner) – PwC
Arctic Intelligence’s financial crime Risk Assessment Platform delivers smart workflows that adhere to international regulation and compliance obligations in an easy-to-use solution. Arctic’s highly configurable proprietary solution enables its customers to connect globally via a single instance and enables access to company data that resides within regional databases. Thus, supporting data ownership and protecting its user. Something that comes highly regarded by many globally focused businesses and consultancies.
Financial crime risk assessment technology will play crucial role in helping to elevate PwC UK’s forensic services as it helps to fight a digital financial crime problem with a digital solution. The synergy between PwC UK and Arctic Intelligence’s goals in the prevention of financial crime is evident as they work together to help clients identify, assess, manage, and mitigate their risks. The intelligence and consultancy expertise from PwC UK along with Arctic Intelligence’s advanced technology will help to solve challenges faced by regulated businesses in both financial and non-financial services sector. Arctic Intelligence’s technology was adopted by PwC UK to use on its high caliber clients to help solve these global issues and they believe data plays a huge role in exposing criminal behaviours.
This is a very exciting for Arctic Intelligence’s global growth. With PwC’s leading position in the market and the wealth of knowledge and experience within their Financial Crime team, this alliance will transform the way firms assess their financial crime risks. Rosie Davitt, Arctic Intelligence UK lead states, “Our technology will enable PwC clients to perform centralised assessments across their organization, providing consistent, data driven results. These results should better inform and prepare them for any actions to mitigate the ever-increasing negative impact Financial crimes have on their business and society.”
Through use of Arctic Intelligence’s enterprise risk assessment software, and for the first time ever, PwC UK will now have access to defendable data-driven results and present firm wide risk profiles with ease. The introduction of Arctic Intelligence’s RegTech in PwC’s forensics regime will endeavor to create more efficiencies and effectiveness in their consulting practices. Arctic Intelligence’s smart workflow, history and audit trail, and issues tracking creates a seamless risk assessment process for all users.
Darren Cade, CEO of Arctic Intelligence states, “We are excited to be working with a great team at PwC that shares our vision on how the risk assessment process can be transformed to deliver more timely risk insights to Boards and Committees.”
This collaboration with PwC UK will strengthen Arctic Intelligence’s reach and support their global expansion. Arctic Intelligence continues to enhance its global penetration following its recently acquired partnership with one of the largest consultancies for the financial services sector in the US. Arctic Intelligence has now established its main hubs across Europe, North America and Asia Pacific which covers the top three regions for financial crime.
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