Australian RegTech of the Year winner, Arctic Intelligence forges global expansion with ICA partnership
ANNOUNCEMENT : Arctic Intelligence continues its growth trajectory by ending the last quarter of 2021 securing a strategic partnership with the International Compliance Association (ICA) headquartered in the United Kingdom. This deal is mutually beneficial for both parties as the ICA boasts an unsurmountable network of global regulatory and financial crime professionals around the world combined with Arctic Intelligence’s award-winning financial crime risk assessment offering.
The ICA has built its stature after delivering internationally recognised qualifications to over 160,000 professionals globally in its 20 years of operation. ICA continues its quest to strengthen its global compliance community with the help of Arctic Intelligence’s tenacious plight to help raise international standards through the RegTech taxonomy.
Arctic Intelligence CEO Darren Cade said, “Upon observing the impacts of COVID-19, we witnessed an increasing market demand for other financial crime domains, so we decided to expand our content suite from Anti-Money Laundering and Bribery and Corruption to include Fraud, Sanctions, Correspondent Banking and many others.” With international and local award recognition following the success of the global architecture project, Arctic Intelligence continue to scale their business internationally by strengthening their proposition.
The ICA is excited to leverage the strength of the Arctic Intelligence solutions by providing its member base with an exclusive version of Risk Assessment Platform (RAP). “The expertise ICA training and qualifications instils in our network plays a significant role in combating financial crime and successfully negotiating the ever more complex regulatory frameworks around the world, whilst driving better, more sustainable and profitable business. Combining this expertise with Artic Intelligence’s powerful software platform is a perfect means to further our mission to help customers do the right business in the right way”, said Pekka Dare, Vice President, ICA.
This strategic global partnership aims to deliver value for the customer base on both sides as ICA extends its programmes and qualifications services into practical data-driven outcomes using the strength of Arctic Intelligence’s technology.
Cade’s vision in 2022 is to continue to evolve Arctic Intelligence’s financial crime risk assessment solution to help organisations set the foundations needed to understand their financial crime risk exposures through automation. He adds, “We are continuing to evolve RAP into a dynamic fully automated, real-time assessment that will generate analytical risk scores and create reports to evidence and defend those results.” By growing their customer base through strategic partnerships like ICA, Arctic Intelligence can further understand the needs of financial crime risk and compliance professionals.
“We have planned enhancements that will deliver the ability for organisations to interface their own systems, allowing the Arctic Intelligence solutions to draw out the relevant insights and feed the risk model and scoring. Our aim is to do away with spreadsheets and completely transform the risk assessment process into a fully-digitised solution” Cade adds.
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