UK, 02 August 2022: A desire to reduce the risk of financial crime (FinCrime) is behind an exciting new partnership between Experian and, leading CRM data quality experts, DQ Global, as they launch new data-driven solution, DQ Compliance.

By combining Experian's KYC (or know your customer) data with DQ Global's suite of no code fintech products, FCA-regulated customers can now quickly access a robust view of a business, what they do, and the people behind them to help rule out financial crime before working with them.

This is particularly important for small businesses going through a corporate finance application process for KYC and customer due diligence purposes. Regulated firms must identify and verify anyone they work with, to ensure they don't unknowingly become involved with a business or individual with a history of financial crime, or sanctions.

The solution also enables customers to meet anti-money laundering (AML) compliance obligations, as well as allowing them to carry out periodic AML checks on existing accounts.

Financial crime has risen significantly in recent years, with 2-5% of Global GDP estimated to be from money laundering1. Fines totaling £10.8 billion due to FinCrime were handed out in 20202 and money laundering is estimated to cost the UK more than £111 billion a year3.

Recognising the importance of combatting illicit financial activity, Experian and DQ Global have combined the former's incredible data utilisation and capabilities into the latter's innovative Microsoft product suite.

Grant MacDonald, Director of FinCrime Market Engagement at Experian, 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."

-ENDS-

[1] United Nation's Office of Drugs and Crime - https://www.unodc.org/unodc/en/money-laundering/overview.html

[2] National Crime Agency - https://www.napier.ai/post/financial-crime-statistics-2022

[3] National Crime Agency - https://www.napier.ai/post/financial-crime-statistics-2022

Media contact:

Joe Green, Senior PR Manager, Corporate & Business, UK&I, Experian

Tel: 07812 737 768 / Email: joseph.green@experian.com

About Experian

Experian is the world's leading global information services company. During life's big moments - from buying a home or a car, to sending a child to college, to growing a business by connecting with new customers - we empower consumers and our clients to manage their data with confidence. We help individuals to take financial control and access financial services, businesses to make smarter decisions and thrive, lenders to lend more responsibly, and organisations to prevent identity fraud and crime.

We have 20,600 people operating across 43 countries and every day we're investing in new technologies, talented people, and innovation to help all our clients maximise every opportunity. We are listed on the London Stock Exchange (EXPN) and are a constituent of the FTSE 100 Index.

Learn more at www.experianplc.com or visit our global content hub at our global news blog for the latest news and insights from the Group.

About DQ Global

DQ Global is an award-winning software company with over 25 years' experience in Customer Data Quality Improvement. We are committed to providing excellent software solutions and ensuring the highest quality customer experience. Specialising in, secure, futureproof, easy-to-use solutions to help businesses make better-informed business decisions.

Back in the 1990s in the heart of the dotcom boom, our founder Martin Doyle, identified that poor data quality was the number one bottleneck for the adoption of the emerging customer/contact management technologies. We have been at the forefront ever since.

Our mission is to empower organisations worldwide to achieve more with their customer data.

Learn more at www.dqglobal.co.uk.

Attachments

  • Original Link
  • Original Document
  • Permalink

Disclaimer

Experian plc published this content on 02 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 August 2022 10:06:52 UTC.