To expand its compliance software for smaller businesses in the fintech, real estate, legal, venture capital and supply chain industries, ComplyAdvantage the gloal financial crime risk detection tech provider has announced the launch of its new e-commerce platform.
Whilst large banks spend up to $1billion annually on regulatory compliance, regulated SMEs often lack the resources to access modern AI-native platforms and still rely on manual processes. Yet they still require robust compliance capabilities to conduct thorough KYC and adverse media screening, sanctions and PEP checks. ComplyAdvantage’s e-commerce platform empowers these businesses to access these services directly through the website, paying only for what they need.
The e-commerce platform democratises access to best-in-class financial crime prevention solutions, delivering the same data quality, real-time monitoring, and user interface that powers compliance operations for major financial institutions worldwide. This approach delivers an unparalleled time-to-value, with businesses getting access to enterprise-grade compliance tools within one business day.
Unlike existing solutions that focus purely on initial screening, it includes ongoing monitoring, transaction monitoring and payment screening—the same comprehensive coverage that has made ComplyAdvantage the trusted choice for over 3000 enterprise clients in 75 countries.
The launch comes as global, regulated SMEs encounter a range of sophisticated financial threats that could compromise their operations and leave them exposed to reputational damage. An estimated two to five per cent of global GDP is laundered each year, roughly $800billion to $2trillion, underscoring the scale of illicit finance threatening businesses worldwide.
SMEs simply cannot afford to rely upon legacy compliance systems that create bottlenecks, generate high false positive rates and require intensive manual checks and remediation.
“We’re continuing to democratise access to best-in-class, AI-native compliance technology,” said Vatsa Narasimha, CEO at ComplyAdvantage. “Every business deserves protection from financial crime threats.
“Our new e-commerce platform is the evolution of our commitment to making enterprise-grade compliance accessible to all, building on the success of our ComplyLaunch programme for startups. It ensures that low volumes don’t mean low protection, as businesses from early-stage start-ups to established law firms and real estate companies face the same criminal networks as major banks and need the same level of defence. Now, they can get access within one business day by signing up through our website with just a credit card.”
