RDC Recognized as Leader in IDC MarketScape Report on KYC Solutions
Regulatory DataCorp, Inc. (RDC), the global leader in compliance screening, has been named as a “Leader” in IDC MarketScape: Worldwide Know-Your-Customer Solutions in Financial Services 2018 Vendor Assessment.
This study uses the IDC MarketScape model to provide an assessment of vendors providing know-your-customer (KYC) software solutions in the worldwide financial services market. This IDC MarketScape is an evaluation based on a comprehensive framework and a set of parameters that assesses providers relative to one another and to those factors expected to be most conducive to success in this market over both the short term and the long term.
"To reduce operating expenses and risk, financial institutions should consider KYC solutions that apply advanced analytics to improve customer life-cycle management," says Steven D'Alfonso, research director, IDC Financial Insights.
RDC provides a SaaS-based platform that provides integrated customer screening for politically exposed persons, sanctions, watchlist and adverse media. The screening engine leverages machine learning (ML) and natural language processing (NLP) to provide the most accurate filtering and name-matching, improving operational efficiency and reducing false positives by up to 90%. Fueling this screening engine is RDC’s GRID database, the largest curated, risk-relevant database in the market. GRID contains more than 9M curated risk profiles created from more than 200,000 sources across 200+ countries in 77 languages and is updated daily. RDC also provides automated, daily portfolio monitoring that eliminates the need for periodic portfolio re-screening.
“RDC has been providing world-class KYC/AML screening solutions to global banks, financial institutions and other multi-national corporations for years,” said Tom Walsh, CEO of RDC. “We’re honored to be named a Leader in the IDC MarketScape and this is truly a tribute to all of the RDC employees who help our customers achieve a single, critical mission – to prevent criminal infiltration of the world’s financial system.”
Click here to download an excerpt of the report.
About IDC MarketScape:
IDC MarketScape vendor analysis model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor’s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors.
SOURCE: IDC MarketScape: Worldwide Know-Your-Customer Solutions in Financial Services 2018 Vendor Assessment, by Steven D'Alfonso and Karen Massey, Sep 2018, IDC Doc#US44292018
Regulatory DataCorp, Inc.,(RDC), the Smarter ScreeningTM company, delivers powerful, decision-ready intelligence and world-class risk and compliance protection, allowing global organizations to identify banned/suspect entities, strengthen fraud protection, ensure regulatory compliance, manage supply and distribution risk, and protect their brand equity. With the world’s largest open source risk-relevant database, RDC provides AML/KYC compliance; Politically Exposed Persons (PEP) protection; emerging market intelligence; corruption, fraud and crime protection; and vendor screening and monitoring to a wide range of clients worldwide. Founded by 20 of the world’s leading financial institutions, today RDC is a Vista Equity Partners portfolio company. Learn more about RDC by emailing email@example.com or visiting www.rdc.com.
Michael Kerman, +1 484-688-5164
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