Anti-money laundering (AML) automation company Strise has been named 8th under the Data Science category in Fast Company’s prestigious 2024 Most Innovative Companies list, the authoritative source for identifying global trailblazers and trendsetters in business.
The company has also announced the opening of a London office, its first outside of the Nordics, to meet the demand for its automated solution to the $1.6 trillion global money laundering problem.
After announcing their Atomico-led $10.8mn Series A funding round in September 2023, Strise has grown to nearly 50 employees, marking a 140% year-on-year increase from 2023. The company has significantly expanded its data model: having originally processed information on around 600,000 entities in Scandinavia, Strise now provides insights on over 1 billion international entities and 11 million private individuals.
Strise has also rolled out new automated capabilities this quarter, including Straight Through Processing (STP), which facilitates fully automated, compliant client onboarding and account opening through an end-to-end process that streamlines and simplifies the process while reducing risk and the need for manual intervention. The company has also launched a new perpetual KYC solution, which uses Strise’s integrated data layer to seamlessly connect sources and entities to deliver continuous monitoring of private customer portfolios. Changes in customers’ risk status are automatically flagged in real-time and analysts have accurate, real-time context to inform decision-making.
Commenting on this, Strise CEO and co-founder, Marit Rødevand, said: “We’re thrilled to be recognised by Fast Company alongside so many other leading innovators in their respective fields. This is a testament to the advances we have made as a company, made possible by our remarkable team and customer base. We’re committed to continue finding new solutions to old problems, by harnessing the power of technology and automating outdated, manual processes to fight financial crime. ”
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By GlobalData
