Steele Announces AI-Driven Risk Intelligence Data Services

SAN FRANCISCO (July 14, 2020) – Steele Compliance Solutions, the global leader in ethics and compliance management, today announced the worldwide launch of “Risk Intelligence Data,” an Enterprise Data as a Service (DaaS) platform delivering real-time, high-quality risk and compliance data. While most traditional risk and compliance databases miss valuable information, flooding analysts with irrelevant false positives and outdated results, Steele’s patented solution saves time, reduces cost and delivers fewer false positives, all while providing greater coverage of risk information.

The global health crisis, combined with an economic downturn, provides fertile ground for potential fraud and corruption. “The estimated amount of money laundered globally in one year is 2 to 5 percent of global GDP ($800 billion to $2 trillion)” according to the UN, and the estimated amount of bribes paid annually is approximately 3 percent of global GDP (roughly $1.5 trillion). Unfortunately, these statistics cover a very small portion of the risk information compliance officers must consider before moving forward with a partner or customer. Issues like bribery, corruption and money laundering, along with changing regulations, create challenges when evaluating reputational risks. Companies are forced to make decisions on partners quickly, increasing opportunities for gaps in the vetting process. Having immediate access to, and the ability to evaluate, real-time risk information has never been more important.

“With the ever-increasing volume of publicly available information, compliance professionals need better technology to effectively identify risk information,” said Christian Focacci, VP of Product Development, Steele Compliance Solutions. “Rather than relying on conventional database searches that are not up-to-date or always accurate, we are providing compliance teams with unmatched levels of data coverage through our proprietary datasets and continuous media monitoring. In particular, our business disruption data set will be critical in helping our clients proactively mitigate risk during the COVID-19 pandemic, by helping to identify customer and vendor risk through early detection of business deficiencies.”

Steele’s Risk Intelligence Data delivers more relevant risk information than any other solution, easily integrating into any internal or third-party platform to help organizations quickly identify risk, and enable more effective decisions regarding vendors, suppliers and customers. Steele customers can now further streamline their risk data needs through a direct feed, resulting in highly accurate data with fewer false positives and greater insights into needed risk information. This cloud-based data solution will provide compliance professionals access to all their risk data needs including:

  • Adverse Media/Negative News
  • Watchlist & Sanction Lists
  • Politically Exposed Person (PEP)
  • Business Disruptions
  • OFAC Related Ownership
  • State-Owned Entities

For more information on Risk Intelligence Data, visit https://steeleglobal.com/products/risk-intelligence-data/.

About Steele Compliance Solutions, Inc.

Steele is the global leader in Ethics & Compliance Management. We partner with the world’s largest, most respected, companies to deliver compliance products and services that help organizations embrace a culture of compliance while protecting their brand. For more information please visit www.steeleglobal.com.


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