LONDON, Sept. 19, 2019 (GLOBE NEWSWIRE) — Dow Jones Risk & Compliance has launched an advanced solution for adverse media screening, which will enable financial institutions to conduct real-time, automated risk-screening and monitoring.
The tool is powered by AI-enabled Natural Language Processing technology from Ripjar, a global leader in data intelligence software.
The tool continuously monitors premium content from Dow Jones, including structured risk data and a collection of news articles from over 17,000 licensed sources available within Dow Jones Factiva. The integration of additional data sets is also supported, providing a significant advancement of financial institutions’ anti-money laundering, Know Your Customer (KYC), and third-party risk screening programs.
It enables continuous, real-time screening of customers against news relating to financial crime or reputational risk, as well as the identification of sanctions risk and politically exposed persons.
The application of Ripjar’s technology allows for faster assessment of the risks posed by individuals and entities, while reducing the occurrence of false positives that can waste time and resources.
Guy Harrison, General Manager of Dow Jones Risk & Compliance, said: “Dow Jones has been deriving actionable insights from news content for more than 130 years and the effectiveness of this solution reflects that expertise. It marries our trusted, high quality content and risk data with Ripjar’s powerful AI technology to enable more efficient risk screening with the highest possible level of precision.”
Jeremy Annis, CEO of Ripjar, said: “Money laundering and terrorist financing are serious threats to financial institutions. Through this partnership with Dow Jones we can empower financial institutions to take a proactive role in preventing those crimes which exploit their vulnerabilities and carry the highest human cost. This is a critical partnership for Ripjar’s development and strategy of creating collaborations with leading global companies that can help us scale our business.”
About Dow Jones Risk & Compliance
Dow Jones Risk & Compliance is a global provider of third party risk management and regulatory compliance solutions. Working with clients across the globe, it delivers research tools and outsourced services for on-boarding, vetting and investigation to help companies comply with anti-money laundering, anti-bribery, corruption and economic sanctions regulation in mitigating third party risk. The Dow Jones Risk & Compliance business grew 24% in Fiscal Year 2019, exceeding $130 million in revenues. Dow Jones is a division of News Corp (Nasdaq: NWS, NWSA; ASX: NWS, NWSLV).
Ripjar is a data intelligence platform company whose mission is to accelerate the time for companies and institutions to identify and manage threats – from across the world.
Founded by former members of the UK’s Government Communications Headquarters (GCHQ), Ripjar develops software products that combine automation, artificial intelligence, and data visualisation to help companies solve the most complex risk and security management problems at scale.