Sigma360's Mission & Value Add - Statement from CEO Stuart Jones, Jr.

September 6, 2023

I.

Today we rebrand as Sigma360 and continue to expand on our technical capabilities to help our end-users manage risk, increase efficiency and drive value in an unprecedented and rapidly changing global risk environment.

The concurrence of increasing geopolitical tension, a hyperactive sanctions regime, expansion of priorities as they relate to anti-money laundering and an increasing call for enhanced screening for environmental and modern-slavery related risks in customer and supplier relationships is unprecedented. And this is only the beginning of what’s coming from a risk management perspective for globally exposed firms and their leadership.

Our new brand and mark represent the promise of our software: The definitive, always-on customer intelligence and decisioning platform.

II.

To respond to and address the litany of growing challenges facing our clients, Sigma360 concluded a major funding round at the end of 2022 on the back of strong client retention and continued, repeatable growth across multiple user types.

Our latest financing builds on early funding rounds that included Fitch Ratings, Barclays and other well-known institutional investors in New York and worldwide.

We have also taken this opportunity to deepen our partnerships, including ensuring that our work with our data and technology partners becomes a central part of how we see client growth and our respective ongoing delivery of value. It is possible to grow market share and team to deliver solutions that move forward the industry and we are excited to be hard at work in that regard and in that spirit.

III.

We are constant innovators.

The Sigma360 team (then Sigma Ratings, Inc.) introduced the world’s first non-credit risk rating in 2016 and subsequently built Sigma360, our cloud-native software platform for modern risk and compliance teams. We made this hard pivot to software to automate our original rating approach, respond to client demand and position our firm to offer a scalable, high speed view of risk on companies and people worldwide.

Today, Sigma360 is a leading software innovator, helping our clients identify, screen, monitor and review their customer relationships at scale. This is a hard task, particularly when one considers the vast amounts of data available for review every minute of the day.

The Sigma360 platform not only provides the signal that operators need to make decisions, but it also helps connect critical external data to an organization’s internal view to create a single pane of glass and unlock new insights. This is achieved through the development of and investment in proprietary entity resolution applications, matching logic, artificial intelligence models and other data optimization improvements to provide accuracy and scale.

Early Sigma360 adopters had access to a limited inventory of data, insight and workflow, whereas today, those same clients can access over 10 billion data points and contextualize risk insight in less than a second. This new reality provides real value, as well as deeper assurance that they fully understand risk and as a result can onboard (or exit) clients with greater clarity and evidence in their decision making process.

Ultimately, Sigma360 clients are finding that static watchlists and periodic, batch-based checking for risk is both inefficient and ineffective. A feeling that is particularly true in the current environment. For example, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC), reported in February that it added over 2,500 Russian targets to its list year-over-year, including 2400 individuals and entities, 115 vessels and 19 aircraft. Given the pace of change, it is imperative that firms leverage robust content and technology as part of their day-to-day operations.

IV.

From here, we remain focused on providing the most complete screening and monitoring capability on the planet. In independent evaluations, Sigma360 matches and often outperforms traditional approaches that firms rely upon today - driving greater efficiency and cost savings.

To pull this off, we have heavily invested in and mastered data collection and transformation, enrichment and near-real time delivery in a modern web-based tool and through a suite of powerful API endpoints. And we are routinely improving this experience through broader configurable risk taxonomies, greater automation, additional data partnerships and intuitive workflows that make it as easy as possible to get data into and out of our system and ultimately, know your risk.

We have also invested in security, ensuring enterprise wide two factor authentication, ongoing firm and system-wide penetration testing and SOC 2 certification.

V.

Importantly, we deeply believe in what we are building and its purpose for a higher good. Collectively, our team has seen risk up close and in person working as part of the formation of the U.S. Treasury Department’s Office of Terrorism and Financial Intelligence, the stand up of the National Counterterrorism Center and on-the-ground leadership in Afghanistan and the Middle East.

Our team and advisors have also honed their skills as part of big law, big four and many of the largest financial institutions and corporations on the planet. This experience and insight, alongside an incredibly capable and senior technology team, has brought forward an innovative, fit-for-purpose capability and packaged it to deliver immediate return-on-investment for our end-users who face unprecedented risk and challenges across their business operations.

We are not just another regtech company, we are redefining the future of risk and compliance - as we have been doing since 2016 - and moving forward what is possible for firms of all sizes who aspire to and demand world class risk management software.

Be certain, in uncertain times.

Sincerely,