Bureau van Dijk develops the Catalyst for Compliance research
New product from leading business information provider helps assess risk and streamlines client on-boarding and AML research to improve efficiency
London: 22 April 2013 – Bureau van Dijk (BvD), one of the world’s leading business information publishers, has created a new tool to help assess risk associated with potential customers, with the objective of streamlining the on-boarding process and improving efficiency. Compliance Catalyst utilises the ‘compliance critical’ information on BvD’s global company database, Orbis, notably its extensive company hierarchies that help users identify group risk and beneficial ownership. Compliance Catalyst is the only platform where PEP and Sanction intelligence is seamlessly integrated with corporate ownership structures – a significant element in its timesaving focus. Compliance Catalyst is now in its final stages of beta development and is available to trial.
The user employs Compliance Catalyst to create detailed, secure on-boarding reports in a process that offers options to annotate, append, share and include in existing workflows. Compliance Catalyst combines information from a range of providers and includes intelligence on beneficial owners, directors, PEPs and Sanctions as well as company financials and company hierarchies, other adverse and country risk data. It also contains time-saving links to regulatory bodies and stock exchanges for verification purposes.
Significantly, Compliance Catalyst is customisable and its risk parameters can be set according to the client’s risk-based approach. Clients can also create bespoke processes using simple menu-driven tools. Web Services options mean that Compliance Catalyst, or elements of it, can be used within the client’s own environment.
“BvD’s data has long been used by compliance researchers,” said Neil Farquhar compliance product manager at BvD, continuing, “Our company ownership structures are very comprehensive and deservedly popular in helping research beneficial ownership and conflict checking. We’ve built on this with Compliance Catalyst, creating a tool that simplifies getting to the critical data points, that combines relevant data with other important external sources and that incorporates this intelligence in a risk platform tailored to the task. The result is a tool that can save huge amounts of time and deliver impressive results. When we demonstrate Compliance Catalyst the responses are very positive.”
More information is available at bvdinfo.com.