Anti-money laundering fines are up by 50%. Here's how your company can avoid being next
Avoiding a breach of Anti-Money Laundering (AML) regulations–and the fine that follows–should be a priority for any company in 2023. The financial costs of a compliance failure is increasing, with global fines against companies rising by 50% year-on-year. In the...
The EU’s Human Rights Due Diligence Directive is expected next year – and other countries could introduce their own legislation. How should companies prepare?
The EU’s proposed new Directive would mandate large companies in the EU or doing business there to implement strict new due diligence obligations. The regulation is now close to being finalized, which would start the clock ticking for individual countries to change...
Sanctions update: UK regulator releases new report, while EU publishes due diligence expectations for companies
Many companies have deficiencies in their sanctions risk management and customer due diligence processes, according to a survey by the UK’s financial regulator. The EU has also published new expectations about companies’ third party due diligence for risks related...
Prevent and Detect: How Companies Can Spot Money Laundering Before the Fine
Companies are receiving ever larger fines for allegedly breaching anti-money laundering regulations–in fact, the total fines issued globally in 2022 was 50% higher than in 2021. As well as the financial hit, compliance breaches inflict significant legal, reputational...
6 Exciting Ways Premium News Data Lights the Way to Better Business Performance
Despite predictions of a “new normal,” the post-pandemic world feels just as tumultuous as ever. In fact, you could say unpredictability is as constant as the tide. The pressure to adapt or risk being swept into obsolescence is great. That’s why organizations increasingly...
5 Unbeatable Benefits of Switching to a Cloud-Based Data Platform to Leverage Third-Party Data
The landscape of business is evolving at an unprecedented pace, thanks in no small part to the accelerating development of technology. One of the most impactful shifts in recent years is the migration from on-premises data solutions to cloud-based data platforms...
Your Guide to the Alternative Data Revolution in Cloud-Based Data Marketplaces
Data may seem as common as dirt these days, but harvesting insights from data is not without its challenges. According to Statista , for example, organizations across the globe report common problems with: 34% struggle with data discovery—where to find and...
4 Reasons for Integrating Third-Party Data in Financial Services Risk Management Workflows
Recent volatility in the financial services sector only reinforces how interconnected and complex global markets have become. Geopolitical and economic uncertainty, coupled with expanding regulation, makes navigating the turbulence even more challenging. Global...
How Third-Party Data APIs Help Financial Services Organizations Keep a Competitive Edge
Could 2023 be the year the world rebounds from the 2020 pandemic? The answer is “yes”, according to Deloitte , which predicts that “2023 could be the year the ‘new normal’ fully comes into view. There will be opportunities to help define the future, one in which...
4 Crucial Ways that Third-Party Data APIs Can Help Financial Services Organizations Become More Risk Resilient
In 2021, McKinsey, in collaboration with the Federation of European Risk Management Associations (FERMA), conducted a survey on resilience behavior and organizational management. Noting a “striking difference between corporates and financial services organizations...
How Adverse Media & Other Text-Based Data Helps Financial Services Organisations Stay on Top of Reputational Risk
What is your reputation worth? While reputation can be difficult to quantify, a study by the World Economic Forum suggests that more than 25% of market value can be attributed to an organisation’s reputation. Particularly in the financial service industry, reputation...
4 Uses for Text-Based Data that Turns Insurance Market Intelligence into Valuable Insights that Enhance Decisions Across Your Business
A McKinsey article on use of AI in the insurance industry calls data and analytics capabilities “table stakes” in the sector in Europe and North America. The article notes that “External data are the ‘fuel’ that is unlocking the value of artificial intelligence...
What are the Benefits of Adding ESG News and Other Third-Party Data to Your Investment Analytics?
In recent years, financial services organisations have faced increased pressure to consider environmental, social, and governance (ESG) factors in their investment portfolios and strategies. It isn’t the first time. In the 1970’s, anti-war sentiment and concern...
5 Essential Types of Third-Party Data the Manufacturers Can Use Today to Fuel Innovation & Growth Tomorrow
Did you know that manufacturing leaders are 2.5 times more likely to put data and technology investments ahead of cost reduction efforts? There’s a good reason: Making data-driven decisions—supported by artificial intelligence applications—can help manufacturers...
Using Third-Party Data to Safeguard Your Reputation & Inform Decisions Across Your Entire Manufacturing Organisation
“Any reinvigoration of US manufacturing will also require reinvention,” notes McKinsey & Company in its “ State of AI in 2022 ” report. The report goes on to explain that five years ago, manufacturers were seeing value from AI use in operations and risk management...