NY-OWLIN
27.2.2024 16:01:33 CET | Business Wire | Press release
Following the successful launch of Owlin's end-to-end Know Your Customer (KYC) solution tailored for Payment Service Providers (PSPs), Owlin proudly announces the release of Owlin for Banks, a comprehensive solution for Third-Party Validation and Due Diligence.
With Owlin for Banks, Owlin provides a solution for all teams within a bank that deal with Third-Party Validation and Due Diligence (e.g., vendors, Know Your Business (KYB)). Owlin for Banks facilitates seamless onboarding, monitoring, and offboarding of third parties while ensuring compliance with regulatory requirements. To meet the needs of banking clients, Owlin includes data covering Adverse Media, Sanctions, Politically Exposed Persons (PEP), State-owned Enterprises (SOE), various Watchlists & Blacklists, U.S. Securities and Exchange Commission (SEC) filings, and the Consumer Complaint Database of the U.S. Consumer Financial Protection Bureau (CFPB).
With Owlin for Banks, users can go beyond traditional Google searches, going back seven years for adverse media signals, have global language coverage (17 languages), and show adverse media articles that cannot be found anymore via a regular search. This translates into unparalleled speed to insights and time savings – transforming a sea of data into clear, actionable insights. The product distinguishes itself with seamless integration capabilities into existing tools and systems banks utilize. It recognizes that many users already have many tools to perform their tasks.
Stefan Peekel, Chief Growth Officer at Owlin, expressed his enthusiasm about the launch:
“After the successful launch of Owlin for KYC customized for PSPs, we're excited to expand our offerings to banks. Ever since the outcome of the Bunq lawsuit against DNB (De Nederlandsche Bank), which permitted the use of AI in compliance processes, we’ve observed a growing demand for AI solutions for Governance, Risk, and Compliance (GRC). Therefore, we have been extremely excited to offer our services as an end-to-end solution for banks. This solution will help banks utilize modern technologies like data analysis and artificial intelligence to bolster their risk management practices and maintain regulatory compliance.”
About Owlin
Owlin is an AI-driven solution for third-party risk, merchant, and vendor monitoring, helping businesses obtain better and faster real-time risk insights for daily workflows. Owlin applies AI and Natural Language Processing to provide valuable insights hidden in the data. It ensures its users don’t get lost in the wealth of information by visualizing complex data in a simple and customizable interface.
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