Sigma360 H1 2024 Company Update & Focus

July 16, 2024

I.

The threats firms face - particularly those engaged in cross-border operations - continue to both morph and expand in complexity, making it absolutely critical to know your customer, supplier and counterparties at the time of onboarding and as part of ongoing risk management.  

These threats are underpinned by war in Ukraine, deepening conflict in the Middle East and rising tensions in Asia which in turn lead to new regulations, an onslaught of sanctions and political pressure for firms to take on more holistic risk management capabilities.  

Emergent threats also include modern slavery, human trafficking, corruption, environmental crime and drug trafficking, each their own blight on humanity.      

These realities are on the minds of boards, shareholders and executives, which if mishandled, could wreck a firm’s market position and brand.    

As a result, continuous, situational awareness across clients and their relationships is vital. 

II.

To meet these growing challenges, we believe that the combination of leading-edge software and all-source data (external and internal) represent key pillars in modern, future-proofed risk management.  Always-on risk intelligence, precisely delivered, is a necessary capability that is aided and improved upon by the advance of artificial intelligence and related technologies.  

Specifically, combined software and data that can:

- Deliver accurate, near-real time and comprehensive results to end-users: Ensuring the right, contextualized return is provided to analysts and decision executives to evaluate a client or potential client; and one that has considered all available data.

- Triage signal from noise: Indexing on and demonstrating progress on hit-to-catch ratios and developing a partnership with end-users to further dial this in.  A bias to results and speed of operations versus talking points and hypotheticals.  

- Deploy quickly, with minimal engineering resources: Teams should be able to quickly set-up, test and use an integrated platform to meet their risk objectives; for one team or across many within an organization. 

- Provide reliable elasticity to meet growing needs: Architecture that scales up or down in a predictable and cost-effective manner. 

- Adapt to meet the challenges of tomorrow: Consider new and novel data types, evaluate and test the latest technologies, enable significant, on-the-fly configuration with little help needed from engineering and solution teams. 

III.

In achieving successful outcomes, we believe that partnership is everything.  

The current environment demands that software and data vendors deeply partner to meet objectives and work toward further improved results.  

Outdated approaches to software sales and delivery, including selling with poor or time-based handoffs, have led to disappointment and missed opportunities to develop lasting technology solutions that move industry forward.  And in our industry in particular, work to move forward what’s possible in the fight against financial crime among other things.    

The best outcomes are arrived at through information sharing, open communication, curiosity and a shared objective toward total success.  

And this can only really be achieved through meaningful partnership between vendors and end-users. For this reason, among others, regulators are encouraging institutions to work with new vendors to review and accelerate program effectiveness.  

IV.

Innovative is core to who we are. 

A truth that has fueled extraordinary business growth and market trust in Sigma360's delivery of category defining capabilities across a range of use cases, including screening, adverse media and enhanced due diligence.  

We care deeply about solving problems, helping our clients meet regulatory requirements and collectively making meaningful progress in fighting financial crime.  

This requires constant innovation.  What worked yesterday will not necessarily work tomorrow.  That should be every company’s mindset in the risk and compliance space.  

In sum, we strive to arm our clients with the best data, technology and support available.  Period.  Because effective and efficient compliance operations are both a business imperative and a business advantage.  

Sincerely,

Stuart Jones, Jr.
Chief Executive Officer & Founder
Sigma360