AML RightSource, the leading outsourced provider of Anti-Money Laundering, Know Your Customer, and Bank Secrecy Act compliance solutions, has acquired Arachnys Information Services Limited.
Arachnys, an innovative RegTech platform based in the United Kingdom, provides enriched, intelligent KYC and AML data and software solutions to accelerate customer onboarding and monitoring for financial institutions and other high-risk industries. Its platform and suite of APIs support KYC and onboarding, AML and investigations, Enhanced Due Diligence, adverse media monitoring, Third-Party Due Diligence, and other critical anti-financial crimes processes.
“It’s an exciting time to join AML RightSource and we look forward to adding our technology and expertise to an industry-leading and rapidly growing organization,” said David Buxton, CEO and Founder of Arachnys, who will continue leading Arachnys and will join AMLRS as Chief Product Officer. “Together, we can offer a wider and more sophisticated range of scalable, KYC and anti-financial crimes compliance solutions, helping our customers reduce the friction of onboarding, monitoring, and AML investigations.”
Arachnys offers a technology platform that is powered by unparalleled data coverage. The platform employs machine learning to normalize and enrich entity profiles, automate manual tasks, and provide screening at scale. Arachnys’ global customer base includes financial institutions, asset and wealth management firms, FinTechs, insurance providers, pharmaceutical manufacturers, oil and gas companies, and commercial real estate firms.
“We are delighted to be joining forces with David and his team to expand our capabilities and geographic footprint,” Frank Ewing, Chief Executive Officer at AML RightSource, added, “Arachnys has developed a differentiated suite of data and software solutions that, combined with our proven delivery model, will allow us to better arm our clients with the tools and technology needed to fight financial crime.”
AML RightSource is backed by Gridiron Capital, LLC, a leading investment firm focused on partnering with founders, entrepreneurs, and management teams.
