The financial services division of Xchanging has signed a partnership with Sphonic, a London-based risk management company.
The alliance will provide fit-for-purpose solutions to facilitate financial services institutions address the challenge of tackling financial crime.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
The partnership will also help Xchanging to improve its capabilities to handle the regulatory and market challenges around KYC (Know Your Customer), AML (Anti-Money Laundering), and fraud and risk management.
Sphonic CEO Riten Gohil said: "In the fast moving digital environment, consumers are demanding intuitive and friction-free methods to register and use financial services.
"Equally, financial services providers are challenged by an increasingly complex regulatory environment and managing risk alongside consumer acceptance.
"This partnership will provide a range of innovative technologies and robust processing capabilities that meet the demands of an evolving marketplace, and allows Xchanging to leverage best-in-class solutions such as KYC, customer on-boarding, and AML monitoring and case management."
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
