Arachnys, the leader in Customer Risk Intelligence (CRI) solutions for Client Onboarding, Know Your Customer (KYC), Customer Due Diligence & Enhanced Due Diligence (CDD/EDD) and Anti Money Laundering (AML), today announced that is has become an Oracle PartnerNetwork (OPN) Platinum level member with the Arachnys Customer Risk Intelligence (CRI) suite.
The partnership launches with Arachnys /Navigator, part of the Arachnys cloud-native CRI platform, as the first solution planned for integration to further enhance Oracle’s Financial Services Financial Crime and Compliance Management (FCCM) solution suite. With this integration, Oracle will offer its customers additional capabilities to enhance the due diligence process, including access to the broadest, cloud-based content library exclusively tailored for financial crime investigations and KYC profile record completion.
Arachnys /Navigator enables analysts to dynamically screen for negative news and entity profile information for new customers at client onboarding and related parties within transaction monitoring investigations. Utilizing this information provides a more accurate understanding of the risks across entities for more prudent and proactive risk decisioning, while ensuring Oracle customers greater auditability, compliance and policy conformance across investigations.
“The open architecture, risk knowledge management and comprehensive capabilities of the Customer Risk Intelligence platform provides for both rapid integration and solutions for a wide variety of customer risk evaluation use cases,” said Ed Sander, President of Arachnys. “Oracle is one of our most valued partners in helping firms rapidly onboard their clients while thwarting bad actors.”
“The transformative potential of Arachnys’ cloud-native platform stands out in the field for its ability to accelerate revenue by augmenting compliance and operations. We believe its approach to entity data management is highly complementary to Oracle’s and look forward to creating value for our customers in the fight against financial crime,” said Ambreesh Khanna, Group Vice President and General Manager, Oracle Financial Services Analytical Applications.
As an Oracle Platinum level member, Arachnys receives the benefit of being able to start developing specializations that will allow them to grow their business, increase their expertise, reach higher levels of customer retention and create differentiation in the marketplace. Platinum members also become eligible to resell all Oracle Technology products and can apply to resell Oracle Applications and Industry Solutions. In addition, they receive access to My-Oracle Support to support development, demonstration and integration licenses only, discounts on training, limited free assessment/exam vouchers, reduced rates on the purchase of Oracle licenses for internal use, discounts on advances customer services and more.
Contributed | what does this mean?