Dun & Bradstreet, a global leader in business decisioning data and analytics, has earned the title of Category Leader in the Chartis Research RiskTech Quadrant® for KYC Data Solutions for the third consecutive year in 2024. This prestigious recognition highlights Dun & Bradstreet’s continued excellence in providing top-tier Know Your Customer (KYC) solutions. The company’s KYC data offerings, which include a comprehensive suite of sanctions and watchlist data, corporate structure insights, entity relationship mapping, and trade data, have earned a remarkable five-star rating from Chartis Research.
“We are honored to be ranked highly by Chartis for our KYC data solutions,” said Brian Filanowski, General Manager of Finance & Risk Solutions at Dun & Bradstreet. “Our D-U-N-S® Number and data-driven approaches empower organizations to verify and identify business relationships, screen entities, and assess third-party compliance risks. This capability is essential for our clients, and we are thankful for their continued trust.”
Dun & Bradstreet’s commitment to providing best-in-class KYC data solutions has made it a key player in the global risk and compliance landscape. The company’s robust offerings support organizations in verifying business relationships, identifying risks, and ensuring compliance with international regulations.
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The Importance of KYC Data in Global Compliance
KYC, or Know Your Customer, is a critical component of financial institutions’ compliance programs. It involves gathering and verifying information about customers to ensure that they are who they claim to be, and to assess any risks associated with them. Effective KYC processes help businesses prevent money laundering, fraud, and other financial crimes by ensuring that customer relationships are appropriately vetted.
In a highly interconnected global economy, having access to accurate and comprehensive KYC data is vital for companies to mitigate risk and comply with regulatory requirements. Dun & Bradstreet’s continued recognition as a category leader reflects the company’s commitment to providing the tools that businesses need to manage risk effectively. By offering detailed and accurate data, Dun & Bradstreet supports compliance teams in making informed decisions and safeguarding their organizations against potential threats.
Key Features of Dun & Bradstreet’s KYC Data Solutions
One of the core strengths of Dun & Bradstreet’s KYC data solutions is its use of the D-U-N-S® Number, a unique nine-digit identifier assigned to entities. This number enables businesses to accurately identify and assess the relationships between individuals, companies, and other entities. The D-U-N-S® Number is a critical tool for compliance professionals, helping them streamline the process of searching for and verifying entities.
In addition to the D-U-N-S® Number, Dun & Bradstreet offers a wealth of other data that enhances the KYC process. With access to over 590 million entities, the Dun & Bradstreet Data Cloud provides comprehensive company data for verification purposes. The company’s ownership data covers more than 390 million shareholder companies and 365 million individuals, while its screening data includes over 1 million individuals.
These extensive datasets help compliance professionals assess risk across a wide range of entities and individuals, providing them with a clear view of potential risks and opportunities. Additionally, Dun & Bradstreet has expanded its sanctions screening capabilities to include maritime vessels and aircraft, further strengthening its ability to help businesses identify and manage risks related to global trade.
The Role of AI in Enhancing KYC Processes
In addition to its extensive data offerings, Dun & Bradstreet has embraced cutting-edge technology to enhance its KYC data solutions. The company’s new Gen AI assistant, ChatD&B™, utilizes artificial intelligence to quickly analyze and parse KYC data, providing instant business insights across various use cases, including due diligence and third-party risk management. By leveraging AI, ChatD&B™ can compare and correlate large volumes of data in seconds, making it easier for risk and compliance professionals to evaluate the information they need to make informed decisions.
“ChatD&B is an intelligent assistant that helps improve KYC evaluation processes and optimize risk management,” said Filanowski. “It’s designed to deliver trusted AI responses and instant insights that streamline the compliance workflow and improve efficiency.”
By combining AI with its vast KYC data resources, Dun & Bradstreet offers a powerful tool for businesses to manage risk, comply with regulations, and stay ahead of potential threats. This innovative approach to KYC data solutions positions the company as a leader in the field, providing customers with the tools they need to mitigate risks and navigate the complexities of global compliance.
Chartis Recognition and Industry Leadership
Dun & Bradstreet’s continued recognition as a category leader in the Chartis Research RiskTech Quadrant® is a testament to the company’s strong position in the KYC data solutions market. According to Chartis, category leaders are distinguished by their ability to deliver a broad range of high-quality solutions, supported by a strong strategy for sustainable, profitable growth. Dun & Bradstreet’s leadership in the KYC space is underpinned by its global data program, which provides businesses with comprehensive, accurate, and actionable insights.
Sid Dash, Chief Researcher at Chartis, commented, “Dun & Bradstreet continues to be a powerhouse in the top third of the RiskTech100. This position is driven by its scalable and global data program, which remains a leader in its field.”
In addition to its success in the KYC data solutions market, Dun & Bradstreet has also been recognized in the RiskTech100® rankings and awarded the category award for Best Small-to-Medium Enterprise Credit Data for the fourth consecutive year. These achievements highlight the company’s ability to deliver innovative, effective solutions that meet the evolving needs of businesses around the world.
Conclusion: Dun & Bradstreet’s Commitment to KYC Data Excellence
Dun & Bradstreet’s recognition as a category leader in the Chartis Research RiskTech Quadrant® for KYC Data Solutions 2024 reaffirms the company’s leadership in the risk and compliance space. With its comprehensive suite of KYC data, innovative AI-powered tools like ChatD&B™, and a continued focus on delivering high-quality solutions, Dun & Bradstreet is well-positioned to support businesses in navigating the complex landscape of global compliance.
By providing organizations with the data and insights they need to manage risk effectively, Dun & Bradstreet continues to set the standard for excellence in the KYC data solutions market. With a strong track record of success and a commitment to innovation, Dun & Bradstreet remains a trusted partner for businesses worldwide.
Related Links
- Dun & Bradstreet’s Official Website
- Chartis Research
- D-U-N-S Number Overview
- Dun & Bradstreet on LinkedIn
- RiskTech Quadrant® Overview
Other FinCrime Central Article about Chartis Awards
Source: The Business Standard
