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Monday 11 December 2017

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Accuity integrates financial crime screening with R3

Written by Anthony Strzalek
13/10/2017

Accuity has announced that it has successfully integrated its financial crime screening solutions with Corda – R3’s financial grade distributed ledger technology (DLT) platform.

Accuity’s innovation team, working closely with R3, has developed a solution that enables financial crime screening of customers and transactions on Corda. For financial institutions, this would facilitate financial crime compliance with regulatory requirements.

Hugh Jones, president and CEO of Accuity, said: “We believe distributed ledger technology, inspired by the breakthrough blockchain concepts, has the potential to disrupt how financial services are offered and transacted. Enabling regulatory compliance is absolutely essential for this new technology to progress from proof of concept to production systems.”

“We are now looking at working with our customers to pilot this solution for a number of other use cases such as KYC, payments and trade finance compliance.”

Todd McDonald, co-founder and head of partnerships at R3, added: “R3 has developed Corda to enable a safe and efficient distributed ecosystem for financial services to guarantee a consistent, accurate, auditable, reportable record. KYC/AML Compliance is a key regulatory requirement for financial transactions.”



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