19MAY 2024the identification of hidden links, front partners, offshore companies, and Special Purpose Vehicles (SPVs), and more. The automated risk map allows users to comprehensively assess all connected counterparties and relationships.The platform also supports users to conduct initial screening minutes before meeting a client, obtaining comprehensive insights. If users opt to proceed with the client, the platform facilitates the entire KYC and onboarding processes, conducting detailed investigations and enhancing due diligence. Once satisfied with a client, users can initiate automated ongoing monitoring, conducting batch screenings against its extensive database. This feature is crucial, as any changes in criminal records, sanctions, or adverse media concerning client suppliers, third parties, or investors trigger immediate alerts. This allows users to make decisions based on the most recent data.To further illustrate, an international wealth manager collaborated with Themis to streamline their compliance responsibilities. These included automating their onboarding, screening, ongoing monitoring, MLRO (Money Laundering Reporting Officer) functions, compliance risk management and utilizing outsourced KYC services. The client successfully integrated Themis' end-to-end software to improve their compliance procedures and fortify their risk management framework. This implementation led to the automation of client due diligence processes, encompassing identity verification, background checks, and risk assessment. Additionally, the client conducts Enhanced Due Diligence based on a risk-based approach, leveraging Themis' screening and investigative capabilities to identify potential compliance issues and proactively address risks. Through an automated overnight batch screening process, all existing clients, suppliers, and third parties undergo continuous monitoring, providing assurance that they are consistently screened for sanctions, politically exposed persons (PEPs), litigation, and adverse media. Recognising the complexities of financial crime risk management, Themis has conducted extensive market research, including surveys and interviews, to understand user preferences and identify challenges with existing platforms. Feedback has revealed that numerous firms implement multiple systems to address different aspects of their financial crime risk profile. Themis brings together top financial crime experts and technologists dedicated to analysing and addressing clients' specific needs in managing their risk profiles. "Our core mission as a business is to mitigate the global repercussions of financial crime, addressing the tangible harm inflicted by criminals on individuals, businesses, the environment, and the broader societal adherence to the rule of law," says Johnstone. The consequences of financial crime can have a debilitating impact on victims. Themis is dedicated to thwarting criminals from profiting from illicit activities and preventing the consequential harm inflicted on individuals, businesses, and the environment.Themis' approach goes beyond regulatory compliance, addressing a significant societal issue. This mission permeates every aspect of the organisation--from technology advancement and solution design to providing threat-based research data and intelligence. By prioritising societal impact alongside operational excellence, Themis sets itself apart as a proactive force for positive change within its industry and beyond. Our core mission as a business is to mitigate the global repercussions of financial crime, addressing the tangible harm inflicted by criminals on individuals, businesses, the environment, and the broader societal adherence to the rule of law
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