NEW YORK and SINGAPORE, Sept. 4, 2019 /PRNewswire/ -- Exiger, the global leader in technology-enabled financial crime, risk and compliance solutions, today announced the company has won the 2019 Central Banking FinTech & RegTech Global Award in the Anti-Money Laundering Technology (AML) Provider category. Exiger was acknowledged for its market-leading AI-based technology DDIQ and proven track record of driving the global central banking mission to reduce financial crime.
"We're excited and honored to receive this award recognizing our contribution to the regulated financial system and DDIQ's distinction as a solution," said Brandon Daniels, Exiger President, Global Technology Markets, who accepted the award on Exiger's behalf. "With equal investment in subject matter expertise and technological capability, Exiger has drawn from our financial crime compliance experts and award-winning engineering team to build industry-leading artificial intelligence solutions in compliance. This award independently validates the critical role our artificial intelligence technology plays in advancing the fight against corruption and financial crime while addressing the need to reduce skyrocketing compliance costs."
The AML Technology Provider Award (given to Thomson Reuters in 2018) recognizes global leaders in technology creating innovative products to combat financial crime and corruption risk. Exiger's DDIQ, the AI-based automated due diligence, screening and risk analysis platform, has achieved an advanced level of market penetration with proven effectiveness when implemented in a live environment. The company's decades of combined employee experience and expertise in solving the most complex challenges in compliance is reflected in every facet of DDIQ's development representing its leadership in sustainable compliance solutions.
Award recipients must offer the financial market an actively-deployed solution that is proven to improve financial crime risk management and further central banking objectives. DDIQ cuts down false positives and streamlines customer and third-party due diligence, easing the burden of compliance on financial institutions while also highlighting critical risks. This effort contributes to the overall central banking mission by creating a more comprehensive and less-costly method of managing money laundering, corruption and terrorist financing risk.
"More than ever before, banks need to come to terms with the escalating cost of compliance," said Rachael King, Chair of the Central Banking Awards Committee and Associate Editor of Central Banking. "Exiger provides firms with a technology-driven global governance, risk and compliance framework that enables companies to report to central banks and regulators. The Central Banking judges were very impressed by the engineering team's success in integrating an artificial intelligence application into its product to deliver know-your-customer, counterparty risk management and transaction monitoring."
The winners of the FinTech & RegTech Global Awards were announced on September 4th in Singapore.
Exiger is a global regulatory and financial crime, risk and compliance company. Exiger arms financial institutions, multinational corporations and governmental agencies with the practical advice and technology solutions they need to prevent compliance breaches, respond to risk, remediate major issues and monitor ongoing business activities. Exiger works with clients worldwide to assist them in effectively managing their critical challenges while developing and implementing the policies, procedures and programs needed to create a sustainable compliance environment. A global authority on regulatory compliance, the company also oversees some of the world's most complex court-appointed and voluntary monitorships in the private and public sectors. Exiger has four principal business units being: Exiger Advisory; Exiger Diligence; Exiger Government Services; and Exiger Tech, including AI-based automated due diligence solutions DDIQ and Insight 3PM. Exiger operates through offices in New York City, Silver Spring (DC Metro), Toronto, Vancouver, London, Bucharest, Hong Kong, and Singapore.
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