LONDON, March 26, 2025 (GLOBE NEWSWIRE) -- Fivecast today launched its cutting-edge, AI-driven digital intelligence platform into the financial crime compliance market, enabling financial institutions to radically streamline financial crime investigations, anti-money laundering (AML), know your customer (KYC), and enhanced due diligence (EDD) through online data analytics.
Fivecast empowers financial investigation teams to swiftly and efficiently assess customer risk across masses of online information. The Fivecast platform delivers relevant and actionable information from a vast range of online data sources, enabling broad digital footprint discovery combined with in-depth, AI-driven multi-media data analysis. Current sources and methods used for financial intelligence investigations are missing critical, risk-based information about customers, leading financial institutions to grossly underestimate their risk exposure.
The need for accurate, timely, and global data has never been greater. The global regulatory landscape is rapidly changing, demanding new data sources to meet evolving due diligence requirements for AML compliance. This is highlighted in guidance and consent orders from Government agencies and financial regulatory bodies across Europe, the US, and Australia. In 2024, global penalties related to financial crime imposed by U.S. regulators alone surpassed $4.3 billion.
Duane Rivett, Fivecast Co-founder and VP of Strategic Growth, said: “The vastly superior speed and accuracy of our digital intelligence platform streamlines slow, labor-intensive processes in a highly sensitive area for financial institutions. Just as national security agencies use our solutions to analyze extremist or terrorist networks online, banks are doing the same with a slightly different focus on EDD, AML, and KYC.”
Fivecast solutions empower financial investigation units to efficiently and accurately assess a customer’s risk profile to rapidly identify predicate crimes and customer risk exposure and adopt a genuine risk-based approach to compliance while minimizing compliance costs.
About Fivecast:
Fivecast is a world-leading provider of digital intelligence solutions that enable financial institutions to efficiently and accurately assess a customer’s risk profile, uncovering actionable insights critical to reducing business risk while driving down the cost of compliance. Fivecast was born out of a unique collaboration between government agencies and world-leading research institutions to tackle big data challenges like those facing financial institutions today.
www.fivecast.com
Media Contact:
Monica Brink – Sr Director, Marketing
Monica.brink@fivecast.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c3bca299-cead-4de1-9142-e768a865dc69
source: Fivecast
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