Press Release

Global RADAR Solutions, Inc., a global leader in advanced watchlist screening for the global marketplace has partnered with NTT DATA UK&I to launch a revolutionary platform powered by true AI, Sanctions Compliance Service (Sanctions Compliance Service (SCS)), designed specifically for the Specialty and Reinsurance market.

SCS provides the Specialty and Reinsurance market with the ability to analyse any document type and extract all sanctionable subjects beyond typical insured and reinsured items. The solution is a multi-phase process which starts with data extraction followed by utilizing a complex AI engine to generate alerts and clear false matches. What remains are true alerts which are then managed by a skilled Business Process Outsourcing (BPO) team. This multi-phase approach identifies and returns only items where the customer’s compliance professionals need to act. The initial results have shown that the service is up to 1,600 times faster than human manual processes and significantly more accurate, meaning customers can enjoy improved cost efficiencies and, as a result, expand their coverage.

This fundamental shift and increased onus have forced all compliance functions to review how their sanction screening measures are protecting their organisations. Regulators have also indicated the scope of checks needs to go beyond the basics of the client, meaning all named parties and assets should be subject to screening. As part of the operational management of clients, names are entered into the platform to ensure compliance with regulatory requirements to screen all parties and identify potential matches against the sanctions list. The application facilitates the management and clearing process ensuring that the appropriate due diligence has been performed with appropriate oversight. 

“This throws up practical issues such as business documentation is often in unstructured formats and the cost of licensing appropriate tools that include sanctions list, UBOs, PEPs and adverse media can be expensive particularly for mid-size and smaller companies. The economics and required efficiencies of raising sanctions coverage and mitigating risk has never been more challenging. Building on our experience in delivering solutions for Financial Compliance, this Sanctions-as-a-Service addresses this challenge and is now positioned to help whatever your organisation’s current sanctions screening capability or size,” stated Dominic Suszek, CEO, Global RADAR.

About Global RADAR Solutions, Inc.

Global RADAR is an all-in-one regulatory compliance & anti-money laundering software platform providing risk management solutions to businesses since 2007. Global RADAR specializes in global compliance and risk management for insurance firms, financial institutions, and leading companies around the world.

About NTT DATA UK&I

NTT DATA is a trusted global innovation partner employing over 140,000 people in over 80 countries.

Our focus is on leveraging information technology to create new paradigms and values, which help contribute to a more affluent and harmonious society. Alongside our global reach, we think and act locally to support our clients in their digital transformation journeys, delivering measurable business impact. We achieve this through a comprehensive portfolio of consulting, applications, infrastructure and business processes, IT modernisation and managed services, and deep industry expertise.

Innovation is at the heart of our business. We continue to bring pioneering ideas to the market that respond to shifting customer needs.