Tool enables smarter and faster due diligence checks for users, ultimately reducing compliance risk.
Arachnys and Dow Jones today announced a partnership bringing together Arachnys’ D3 award-winning global due diligence platform with Dow Jones data. The partnership creates an enhanced end-to-end product which will enable users to conduct smarter and faster due diligence checks, ultimately reducing compliance risk.
Combining Arachnys’ D3 workflow and process technology with access to Dow Jones’ decision-ready intelligence and risk and compliance data provides a complete end-to-end solution for the collection of risk relevant data on companies, individuals, court documents, sanctions, adverse media coverage and a wide range of other information.
Through the tool, compliance practitioners will have access to thousands of premium news and information sources on more than 22 million public and private companies.
"Our collaboration with Dow Jones is yet another example of Arachnys’ ongoing commitment towards improving standards across the global compliance industry." said David Buxton, Arachnys CEO and co-founder. "Customer identification and enhanced due diligence are critical processes for regulated firms. Performing KYC and enhanced due diligence on prospective and existing customers is a time-consuming and often duplicative task requiring strong research skills. By adding Dow Jones' premium global business news and data to Arachnys D3 technology, KYC and EDD checks become deeper, safer and more agile.” Buxton continued.
"Global banks and corporations need increasingly innovative approaches to improve the effectiveness and efficiency of conducting due diligence," said Joel Lange, Managing Director of Dow Jones Risk & Compliance. "The combination of Dow Jones's risk and compliance data and Factiva’s premium global news archive with Arachnys' platform meets this demand by providing due diligence analysts with a powerful set of tools to better protect themselves and their organisation against compliance failure."
Many of the world’s leading financial institutions, corporates and law firms are using Arachnys’ technology to safely navigate their way through the huge amounts of risk-related data and manage their regulatory and reputation based risk in-house - going far and beyond basic sanctions and PEP list screening.
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About Arachnys D3 (Desktop Due Diligence)
Arachnys D3 offers a single, automated approach for compliance practitioners to collect, filter, process and present Know Your Customer, Anti Money Laundering and other risk-relevant data. Advanced workflow tools empower users to understand and review information quickly and easily while creating an audit trail of their work. These workflows are configured to represent the operating procedures and risk appetites of each customer, enabling firms to ensure consistency and efficiency on an enterprise level.
D3 has been designed to be consistent with the stringent standards required by today's risk management and regulatory compliance requirements. It is used by some of the world’s largest investment banks, financial institutions, corporates, law and consulting firms. For more information, please go to www.arachnys.com/product/
About Dow Jones
Dow Jones is a global provider of news and business information, delivering content to consumers and organizations around the world across multiple formats, including print, digital, mobile and live events. Dow Jones has produced unrivaled quality content for more than 125 years and today has one of the world’s largest newsgathering operations globally. It produces leading publications and products including the flagship Wall Street Journal, America’s largest newspaper by paid circulation; Factiva, Barron’s, MarketWatch, Financial News, DJX, Dow Jones Risk & Compliance, Dow Jones Newswires, and Dow Jones VentureSource. For more information, please go to: www.dowjones.com
For more information, please contact:
Arachnys: Tina Snelling
+44 (0)20 7193 0987
Dow Jones: Andrew Robinson
+44 (0)20 7573 4016