ComplyAdvantage is another Balderton Capital-backed RegTech startup which provides businesses with a feed of proprietary anti-money laundering (AML) risk data as well as on-boarding screening solutions and a monitoring platform for know your customer (KYC) processes.
The system collects data from sources such as Interpol's watch list, international sanctions and media reports to automate due diligence on clients that pose a criminal risk. Off the back of this data it can provide solutions like enhanced due diligence reports, risk and compliance advice and HR services.
Stephen Ball, VP of sales and marketing, told Business Insider: "We're focused around understanding the risk around people and companies you do business with. What we've built is an AI and machine learning thing under the radar for several years. It's a very difficult thing to do, we've invested millions in building our team and to monitor global data sources and build profiles of people who pose financial crime risk."
ComplyAdvantage raised $8.2 million (£6.8 million) led by Balderton Capital in October 2016.