Arctic Intelligence, global RegTech firm wins again
Arctic Intelligence, continues to be recognised globally by industry associations and trade publications as a force to be reckoned with. From RegTech of the Year to Exporter of the Year Awards and now its most recent accolade, presented by A-Team Group, Arctic Intelligence is the recipient of ‘Most innovative data privacy by design award’ within the Innovative Enterprise Data Projects category. Darren Cade, Chief Executive Officer of Arctic Intelligence, accepted this award on behalf of his team with great enthusiasm. The winning globalisation project focuses on the issues around solving for data sovereignty. This capability was implemented on Arctic Intelligence’s proprietary solution, Risk Assessment Platform which houses the global architecture that ensures ownership of customer data.
Cade states, ‘The Arctic Intelligence team deserves to be recognised for this significant achievement. It is an important step on our strategic path to transforming risk assessments to not only help businesses achieve their compliance obligations but also reduce the global impacts of financial crime’.
The Risk Assessment Platform is a highly configurable solution which innovates the enterprise risk assessment process. Following implementation of the globalisation capability, the Risk Assessment Platform now enables users to connect globally via a single instance and enables access to company data that resides within regional databases. This enhancement addresses and solves the global issue around maintaining privacy regulations and data ownership. These challenges are solved through the Globalisation and Data Sovereignty project by hosting and supporting multiple instances of the software and providing an individual user with a single account across all global data sources. In other words, Arctic Intelligence Risk Assessment Platform clients, both existing and new, can still enjoy all the benefits of ‘software as a service’ and have client specific data and information, such as financial crime risk assessments, stored in country to align with privacy regulations.
Rosie Davitt, Director of Sales UK states, “The control of data is such a key area for our customers, and we are pleased to offer this enhancement. It is our philosophy to continue evolving our product offering to meet the demands and expectations of our customers.”
Arctic Intelligence’s overall mission is to transform how risk assessments are performed to protect businesses and society from financial crime matters. The vision is to take what is often a laborious, manual process, into a dynamic fully automated, real-time assessment that will generate analytical risk scores and create reports to evidence and defend those results. And Arctic is well on the way to achieving this goal, with current solutions that can aggregate and report risk outcomes across business units and risk areas in real-time. But that is not all. Arctic Intelligence wants to help organisations to do away with the spreadsheet-based projects taking up to 6 months to complete. The planned enhancements in 2021 will deliver the ability for organisations to interface their own systems, allowing the Arctic Intelligence solutions to draw out the relevant insights and feed the risk model and scoring. Arctic Intelligence invests heavily in product development with a customer centric focus and this is why it is with great pleasure that Arctic Intelligence accepts the Innovation data privacy by design award from The A-Team Group.