Themis

Selecting the optimal financial crime solution involves understanding a variety of risks, regulatory challenges, changing criminal strategies, and managing vendor relationships. Themis is a platform powered by artificial intelligence (AI) that manages financial crime risk for corporates, small businesses and individuals. It provides a comprehensive, single-system solution that protects stakeholders from criminal threats and reduces the risk of undesirable affiliations.

Themis stands out in terms of functionality and prioritises user experience (UX) and user interface (UI). The outcome is a powerful platform to combat financial crime, which is remarkably intuitive and easy to use.

“As a valuable partner dedicated to client satisfaction, we aspire to be distinct, focusing on true customer centricity rather than conforming to industry norms,” adds Dickon Johnstone, CEO of Themis.

An award-winning platform, Themis assists clients in managing their exposure to financial crime risk through a multifaceted approach that integrates the 4I’s which includes innovation, intelligence, insight, and insourcing and outsourcing. Fundamental to the firm’s approach is the ability of individuals in various organisational roles, including those in compliance, sales, investment, and senior management to conduct due diligence on client suppliers, third parties, and investors with ease. It also aids businesses of all sizes in preventing loss, avoiding regulatory sanctions, and maintaining a strong reputation. This inclusive accessibility ensures that businesses engage in comprehensive risk management effortlessly.

Themis, a purpose-driven company, acknowledges that financial crime is not victimless. It perceives it as a threat to the environment, individuals, businesses, and national security. Committed to positive impact, Themis leverages technology to redefine compliance beyond a checkbox exercise. This commitment is manifested through various initiatives, such as B Corp Certification, UN Global Impact signatory, sustainable development goals (SDGs), and involvement in MSHT. The platform enhances users’ capabilities to conduct comprehensive due diligence by uncovering potential associations with illicit activities, criminal backgrounds, or financial irregularities. The search encompasses various aspects, including political exposure, sanctions, litigation, regulatory actions, corporate actions, insolvency issues, and adverse media allegations.

During Know Your Customer (KYC) processes, individuals or organisations under scrutiny do not openly admit to concealing money laundering activities through offshore companies or engaging in other unlawful practices. Criminals deliberately obscure the trail of their actions, creating a challenging environment for due diligence. With a single click, Themis conducts comprehensive due diligence on individual entities and their entire associated networks.

This facilitates the 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.