Our desire to reduce the risk of financial crime is behind an exciting new partnership between ourselves and Experian, the global information services company.
This new collaboration will provide clients easy to use solutions, to prevent the risk of UK financial crime (FinCrime), thanks to the integration of Experian’s KYC data with our suite of no code fintech products. In turn, this allows FCA-regulated organisations to mitigate financial crime and achieve compliance.
Through this strategic partnership, we have launched DQ Compliance, a joint solution which enables the power of Experian’s FinCrime data to be used within clients’ own data ecosystems. The solutions enable a robust view of businesses, what they do, and the people behind them to help understand the compliance risk quickly.
Financial crime has risen significantly in recent years, with 2-5% of Global GDP estimated to be from money laundering. Fines totalling £10.8 billion due to FinCrime were handed out in 2020 and money laundering is estimated to cost the UK more than £111 billion a year. Recognising the importance of combatting illicit financial activity, we’ve combined our innovative Microsoft product suite with Experian’s incredible data utilization and capabilities.
Experian’s director of FinCrime Market Engagement, Grant Macdonald and DQ Globals Business Development Manager, Conor Doyle.
Speaking about the partnership, Experian’s director of FinCrime Market Engagement Grant MacDonald said: “This is incredibly exciting and will transform the accessibility and speed of SMEs detecting and mitigating the impacts of financial crime resulting from incomplete, inconsistent, and incorrect customer data.”
Martin Doyle, CEO and founder of DQ Global, added: “We are excited to tackle the rise in financial crime through our combined forces with Experian and look forward to using our new DQ Compliance solution to help clients reduce costs and FinCrime risks.”