June 19, 2024
FinScan, a leading provider of AML and KYC compliance solutions, has been named a solution leader in Quadrant Knowledge Solutions’ SPARK Matrix™ Know Your Customer (KYC) Solutions 2024 market research report.
The report includes a detailed analysis of the global market regarding short-term and long-term growth opportunities, market trends, and future market outlook. It provides strategic information for technology vendors to better understand the existing market, supporting their growth strategies, and for users to evaluate different vendors’ capabilities, competitive differentiation, and market position.
FinScan’s recognition as an AML and KYC solution leader underscores its commitment to providing robust, scalable compliance technology that help organizations navigate complex regulations, improve data quality, balance KYC/AML checks with a seamless customer experience, reduce false positives, and enhance compliance efficiency.
Siddharth Arya, Analyst at Quadrant Knowledge Solutions, said, “FinScan’s KYC capabilities offer robust identity verification and AML screening capabilities, significantly enhancing the onboarding process for financial institutions. With advanced parsing technology and sophisticated algorithms, FinScan improves matching accuracy and reduces false positives. FinScan offers dynamic risk scoring and continuous monitoring, transforming risk scores into comprehensive profiles for precise due diligence. FinScan’s integrated platform streamlines KYC compliance tasks, enhances data quality, and facilitates informed decision-making.
Furthermore, FinScan UBO simplifies the KYC process by facilitating the identification of beneficial owners and automatically updating beneficiary lists based on changes in ownership structure, enabling easy monitoring of risk exposure. Owing to FinScan’s overall sophisticated KYC solution offerings, and strong value proposition for customers, the company has received strong ratings across the parameters of technology excellence and customer impact and is positioned as a SPARK Leader in the 2024 SPARK MatrixTM: Know Your Customer (KYC) Solution.”
In addition to this latest accolade, FinScan was also recently named:
One of the world’s most innovative RegTech companies in FinTech Global’s 2024 RegTech100 list
A trailblazer in the fight again financial crime in FinTech Global’s inaugural FinCrimeTech50 list
A Top 25 Governance, Risk and Compliance company by Financial Technology Report
Press contact:
Chanda Shingadia, The Comms Crowd
+44 (0)7951163615