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EastNets and Refinitiv tie-up for AML efficiencies

by Krystal Scanlon 25 November 2019

Compliance solutions firm EastNets and data provider Refinitiv have partnered to offer clients an efficient solution for AML and financial crime compliance.

“The agreement between EastNets and Refinitiv allows our clients to obtain the most effective AML, anti-fraud and compliance coverage on the market,” said EastNets’ CEO, Hazem Mulhim.

The partnership integrates Refinitiv’s risk intelligence data within EastNets’ technology, the en.SafeWatch Filtering (SWF) solution. SWF uses machine learning and analytics to perform watchlist screening and AML detection in real-time.

EastNets’ SWF screening technology will work with Refinitiv’s API technology to integrate the company’s world-check risk intelligence data.

“Our customers expect us to work together and find ways to integrate technology and data. We think this partnership does that and will allow us to look at solutions down the line that can meet the changing face of financial crime,” David Shepherd, global partners director, financial crime at Refinitiv told The Drawdown.

“The challenge for everyone within the industry is to keep up with the rapid pace of technological change and the ways criminals look to benefit from it,” Shepherd explained.

As a preventative measure, Shepherd explained Refinitiv continuously uses its global network of industry experts to help identify financial crime networks.

“In EastNets we have a partner with a strong track record of delivering the technology solutions the industry needs,” he added.

The partnership will deliver joint services to both new and existing clients in more than 190 countries.