Our paradigm and the truths which form the basis of our
approach all link back to an unsustainable status quo, due to
three key contradictions:
The market is stuck in a cycle
of endless investment and limited returns
Large volumes of available data remain untapped
De-risking increases risk
Banks and other entities have spent billions without making discernible or demonstrable progress in preventing crimes such as money laundering, terrorist financing, sanctions, cybercrime, fraud, corruption
and tax evasion.
The financial services industry has an enormous amount of data available, yet it remains an untapped resource when it comes to FinCrime risk management.
As a result of these inefficiencies, and the inability to adequately measure risk, institutions have been exiting entire markets, which increases risk overall as informal opaque payment mechanisms become the alternative of choice.
Ultimately, FinCrime remains rampant and undermines societies and markets
According to the UNODC, criminal activity accounts for nearly 4% of global GDP annually, meaning that in 2018 around €5 trillion was lost, stolen or otherwise illicitly generated, often at the direct expense of the poorest and most vulnerable.
There is a universal appetite for a better option.