May 30, 2024 - UPDATED
Independent report confirms Sigma360's application of technology, data science, system configuration and expansive, fully connected data represents a new paradigm for risk teams versus legacy approaches
NEW YORK, May 30, 2024 /PRNewswire/ -- Sigma360®, the AI-powered risk screening and monitoring platform that enables compliant global commercial relationships, today announced it has been named a category leader in both quadrants of the Watchlist and Adverse Media Monitoring Solutions, 2024: Market Update and Vendor Landscape report from Chartis Research.
Sigma360, a scalable and highly configurable screening, monitoring and investigative platform brings together hundreds of thousands of data sources to provide end-users the most complete, up-to-date and accurate view of risk worldwide.
"Our goal is to provide the ultimate screening software platform and we are incredibly proud to receive recognition as a global leader in the pursuit of that objective," said Stuart Jones, Jr., CEO of Sigma360. "Our mission-critical software provides clients with confidence in their global business decisions, giving them deeper coverage, workflows and full control over how and to whom the system is deployed."
Increasing regulatory and reputational risk related to sanctions, anti-money laundering and other credit and non-credit risks, inflexible and archaic legacy technology and coverage gaps caused by content limitations are at the heart of the industry-wide shift to new software platforms like Sigma360.
On adverse media:
One of the major issues with adverse media, historically, has been inefficiency in delivery, resulting in significant numbers of false positives and general data noise, especially at scale across an organization. In other examples, firms have relied on manual processes, including Google searches, an approach that creates human-error risk and has significant limitations from an ongoing screening perspective.
Sigma360's platform offers deep configuration that enables end-users to easily determine match confidence and materiality thresholds, as well as take advantage of other context-rich data points like location, date-of-birth and publisher to zero-in on media that matters. This approach drives significantly lower hit rates, while preserving catch rates at scale, which drives more efficient compliance operations.
On watchlist, sanctions, trade and political exposure screening:
The screening-related risks facing firms today are expanding at an unprecedented rate. From deepening Russia-related sanctions, to Middle East conflict to increasing screening expectations specific to the supply-chain and ownership links. The accelerating pace of change requires systems that are able to quickly scale and keep up with changing regulatory expectations and provide end-users with new levels of context to power smart, compliant decisions.
The Sigma360 platform automates the process of assessing individuals and companies across vast amounts of data, including global watchlists, political exposure and fast-changing global media across more than 50 languages. Moreover, Sigma360 is the first platform to automate scalable network risk screening using public and internal customer data and integrate dynamic country risk for both name and payment screening.
Some of the key advantages of the Sigma360 platform versus standard approaches, include overall accuracy, speed, ease of system configuration and deployment and depth of global coverage.
To learn more about Sigma360's adverse media screening and monitoring capabilities, please visit: https://www.sigma360.com/solutions/adverse-media
To learn more about Sigma360's name screening solution, please visit: https://www.sigma360.com/solutions/sanctions-and-watchlist-screening
About Sigma360
Sigma360's cloud-based data platform has emerged as the definitive choice for point-in-time risk screening and perpetual client monitoring. Underpinned by hundreds of thousands of fully integrated and hosted data sources and proprietary resolution, risk extraction and scoring algorithms, the platform can identify and return direct and network-based entity risk at sub-second speeds. Sigma360's solutions are used by financial institutions, professional services firms, fintechs and global corporations seeking to consolidate operations into a singular risk intelligence platform and more efficiently manage the entire client lifecycle.
For further information about Sigma360, connect via LinkedIn or at www.sigma360.com
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