Amrit Satpathy
Ecosystem Manager
KnowYourCountry, a country risk reporting solutions provider for finance services professionals, has joined the NayaOne Tech Marketplace.
It offers in-depth jurisdictional AML risk reporting, delivering internationally compliant insights for compliance and due diligence functions, and has been at the forefront of the industry for nearly 20 years.
Jurisdictional risk is often the first risk element to be assessed when risk assessing a customer, their business, or a cross-border financial transaction. With the advent of the risk-based approach, this task has become far more challenging as it’s no longer enough to just use a risk number or risk banding without considering all the risk elements that comprise it.
Financial Regulators now expect financial service organisations to conduct far more diligent checks on the risks that countries pose, particularly the many underlying risk elements that have been identified as comprising the overall country AML risk.
KnowYourCountry helps businesses overcome this complexity. Its country risk reporting and methodology has been acknowledged by leading institutions to provide comprehensive insight into the AML risk landscape on a country-by-country basis. This helps organisations stay compliant when conducting cross-border business, ultimately reducing their compliance costs and mitigating their regulatory risks. The KnowYourCountry product is an invaluable tool for client onboarding, remediation, customer reviews, and creating and maintaining internal jurisdictional AML policies and procedures.
Key benefits that businesses can enjoy from utilising KnowYourCountry’s solutions:
- Reduced regulatory risk, compliance time and resource.
- Enhanced data insights.
- Access to industry-leading risk methodology within their compliance monitoring and risk assessments.
- Full compliance with regulators when managing jurisdictional AML risk.
- Highly competitive pricing structures.
Client Case Studies: Providing Streamlined Country Risk Assessment to over 250 Businesses
KnowYourCountry serves over 250 clients, including numerous regulators, law makers, law enforcement agencies, listed businesses, banks, investment houses, FX and crypto exchanges, trust companies, regtech businesses, and fintech firms.
The company’s clients appreciate:
- The substantial collection of country information in a single place from which they can use as a basis to make their own country risk assessments.
- Time saved to assess a country’s risk.
- The ability to access relevant documents and information that would have been difficult or impossible to locate on their own.
- The ability to confidently rely on a well-established methodology created by leading industry experts.
- Detailed and accurate reports.
- Its intuitive and easy-to-navigate user interface.
NayaOne's recent partnership with KnowYourCountry represents a significant milestone in our journey, particularly in the realm of regulatory technology. This collaboration unites NayaOne's cutting-edge digital sandbox and marketplace environment with KnowYourCountry's expertise in global regulatory and jurisdictional risk intelligence.
The partnership is a testament to the evolving nature of financial services, where technology and regulatory compliance are increasingly intertwined. By combining NayaOne's innovative approach with KnowYourCountry's comprehensive regulatory insights and ability to integrate into firms processes and or software solutions, this partnership is set to deliver a robust, user-centric experience.
It's a fantastic opportunity to collaborate with industry-leading regulated firms, and there is a strong expectation that this marketplace partnership will be a resounding success.
Gary Youinou
Managing Director, KnowYourCountry
It's great to have KnowYourCountry join NayaOne’s Marketplace. As cross-border payments and transactions are becoming increasingly common, it’s essential for banks and financial entities to ensure that their customers’ data and financial assets remain secure. KnowYourCountry’s solutions will help financial organisations reduce ALM risks while remaining compliant. KnowYourCountry solutions can now be discovered and tested via NayaOne's Sandbox-as-a-Service.
Oli Platt
Product and Marketplace Manager, NayaOne
KnowYourCountry, established as a leading entity in country risk reporting for finance services professionals, has been at the forefront of this field for nearly two decades. Their services are geared towards Financial Services businesses, Regulatory Bodies, and Government Agencies worldwide, evolving as regulatory requirements have evolved. KnowYourCountry specialises in providing up-to-date, comprehensive customisable datasets, ratings, and reports on over 240 countries, focusing on Anti-Money Laundering (AML) and Terrorism Financing risk.
By integrating country risk data into customer assessments, initial screening, and onboarding processes, either through their stand-alone portal or via an API for internal system integration, they streamline the risk assessment process for regulated businesses worldwide.
