Global RegTech firm Arctic Intelligence signs leading US-based consultancy as partner

September 28, 2020

Consultancy giant Computer Services, Inc. (CSI), elect global RegTech firm, Arctic Intelligence as a regulatory compliance solution provider for their risk management services

28 September 2020 – For 55 years, CSI has invested in innovative technology solutions and provided expert service to a global clientele. With the increasing importance of regulatory compliance across the globe, CSI has broadened their risk management services by adopting Arctic Intelligence’s enterprise financial crime risk management software solutions into their offering. The addition of Arctic Intelligence’s proprietary solutions will enable CSI to provide their global clients with a central repository of assessments, programs, enterprise analytics and documentation in line with guidance from regulators and the Financial Action Task Force (FATF).

It is estimated that the annual cost of money laundering and associated crimes to the global economy has increased between US $1.4 trillion to US $3.5 trillion. With the combined expertise of CSI and Arctic Intelligence’s award-winning technology, CSI will provide clients comfort in protecting their businesses from financial crime and ensuring their AML policies are up to date with ever changing regulations. CSI recognises the intricacies of compliance obligations across the globe and has adopted Arctic Intelligence’s technology to help combat systemic business risks.

“Mitigating financial risk and evaluating AML compliance are two incredibly complex endeavors that require considerable effort and resources,” said Kurt Guenther, CSI’s group president, Business Solutions Group. “Our partnership with Arctic Intelligence provides CSI customers even more tools to identify and repel risks, analyze data and implement risk-based policies in ways that exceed regulatory expectations.”

Arctic Intelligence continues to grow their global customer base in 2020 as more businesses look to implement regulatory technology. RegTech helps protect businesses against operational vulnerabilities that may leave them exposed to financial crime. Digitally transforming regulatory and compliance processes can also help to increase efficiencies and effectiveness of adhering to the AML/CTF laws and compliance obligations.

Anthony Quinn, Founder of Arctic Intelligence states, “As both the FATF and Wolfberg guidance agree, a comprehensive and unbiased risk assessment is necessary to build an effective compliance framework. Having a robust risk assessment isn’t about satisfying the regulator, it’s about ensuring your firm is not vulnerable to financial crimes that have an increasingly negative impact on both the economy and society.”

Quinn adds, “As a result of our partnership with CSI, firms can now access global, purpose-built software that is supported by a knowledgeable and proactive regulatory compliance team”.

With Arctic Intelligence’s enterprise cloud-based solutions, CSI can adapt the guided risk management proposition and provide a complete audit trail of the process. Both Arctic Intelligence and CSI have embraced the technology partnership and look forward to helping decrease the social impact of financial crimes around the globe.

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