Accenture + Ripjar = real value at scale

Financial services compliance leaders face an immense challenge: preventing financial crime and money laundering. No easy task when up to 5 percent of the world’s GDP is laundered each year.1

Financial firms spend millions to fight crime and comply with regulations, using cobbled-together solutions from multiple vendors plus time-intensive manual searches for suspicious activity. Many only catch a small percentage of criminal activity.

The cost of financial crime includes damaged reputation, lost customers and possibly significant fines.

Accenture and Ripjar can help you change that.

Together, we offer more. Accenture brings deep, global industry knowledge and experience. Ripjar brings leading-edge, innovative technology for screening Sanctions, Politically Exposed Persons and Adverse Media. Our partnership can help your business identify and stop risky behavior while reducing costs, significantly reducing false positives and allowing your teams to focus on risk, not data gathering.

1 United Nations Office on Drugs and Crime, Money-Laundering and Globalization: (Accessed June 17, 2019.)

Global Threat Detection Technology

Accenture's video shares how we can detect threats proactively, reducing the cost and overhead of financial compliance by using automated analytics. See more.

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Fighting financial crime can be a costly endeavor

~$2T

Between $800 billion and $2 trillion is laundered annually, according to the United Nations Office on Drugs and Crime.2

$60M

Financial firms are spending an average of $60 million annually to meet AML requirements and prevent crime. Larger firms spend up to $500M to comply with AML, KYC and CDD.3

$26B

The past decade has seen a collective $26 billion in fines imposed on financial firms for AML and KYC non-compliance. That number is rising.4

How can Accenture and Ripjar help you fight financial crime?

Our relationship combines Ripjar’s innovative solutions for combating financial crime with Accenture’s extensive experience in delivering large-scale transformations in Financial Crime Risk Management and Security. We can help improve your capabilities in monitoring for:

  • Adverse media: Negative news or broadcasts associated with an individual or firm, found in public and third-party data sources
  • Sanctions: Regulatory, governmental or quasi-governmental orders prohibiting a firm from carrying out transactions with a sanctioned person or organization
  • Politically Exposed Persons: Individuals who are, or have been, entrusted with prominent public functions either domestically or abroad such as, for example, a head of state or senior politician

Save time and money fighting financial crime

We make your function more efficient and scalable:

  • We can streamline the data review process—for one global bank a single analyst can now cover 50,000 clients, representing a 75 percent decrease in number of analysts required.
  • We can reduce false positives by up to 93 percent compared to standard fuzzy search-based tools.
  • With our intuitive design and configurable workflows, more efficient searches can be conducted contributing to a reduction in average alert closure time of up to 75 percent.
  • Operating entirely within the perimeter of a client's secure data center or cloud infrastructure, Ripjar’s powerful technology deploys advanced artificial intelligence (AI) to automatically monitor the risk profiles of millions of clients in real time, in dozens of global languages. This helps analysts working in KYC, AML and adverse news screening scale their approach and save manual effort.

    Accenture and Ripjar replace your multiple tools and processes with our multi-purpose, data agnostic, sustainable and scalable solution. Depending on your current state, we may help you save up to 75 percent of your overall compliance operating costs over the next five years.

    Our one solution can handle it all.

    Identify, monitor and mitigate financial crime risk

    Our industry- and cross-sector recognized solutions deliver best-in-class AI- and Machine Learning-based capabilities. We can provide end-to-end monitoring to support existing AML, KYC and other processes.

    Client onboarding

    Conduct historic screening of a new client across millions of data items to feed into their risk score.

    Client monitoring

    Screen millions of clients across billions of data items for sanctions, Politically Exposed Persons and Adverse Media in real time.

    Threat investigations

    Connect the dots via an all-source investigations tool for exploring screening results.

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    What we think

    Our report points to intelligent automation and advanced analytics as keys to transforming financial crime compliance.

    How can financial firms exceed client expectations while meeting regulatory and reporting requirements?

    Learn how a six-phase approach to transforming Know Your Customer can boost your Anti-Money Laundering compliance.

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    Fraud and Financial Crime Blog

    Explore what our industry leaders are thinking about the latest financial crime trends, including the disruptive role of innovative new technologies.

    The complexities of PEP and sanctions screening

    The complexity in effective Politically Exposed Persons status and sanctions screening lies in knowing when a true match has been found.

    The benefits of integrated surveillance in financial crime prevention

    Adam Markson covers ways for banks to conduct adverse media screening to better mitigate risks and reduce know your KYC and AML compliance costs.

    Defining an Adverse Media Screening Strategy

    Heather Adams looks at challenges related to sharing customer data for financial crime management, including protections afforded by data protection laws in some countries.

    Our leaders