We ultimately aim to be a Trusted Regulatory Provider enabling informed and safe business decision
Applicant name: I-SPIRAL IT SOLUTIONS LTD
Innovation Name: AML & KYC Compliance Solution
Innovation Type: Solution
Website: https://www.i-spiral.com
Mission: We ultimately aim to be a Trusted Regulatory Provider enabling informed and safe business decision.
Innovation Description: The development of this innovative tool works for the benefit of Compliance professionals of remittance organisations faced with the strain of ensuring fraud investigation and AML/KYC management. This innovation synchronises with existing sources (Trading Platforms, CRM Solutions, and Banking Systems), while supporting Transaction Monitoring with Online/ Offline Rules. The Case Management tool oversees and mitigates the management of cases identified as suspicious. Negative List Screening (PEP, Sanctions, Adverse Media) Electronic Identity and Document Verification are implemented for accurate KYC and Risk Evaluation.
The dynamic of the innovation has benefited businesses as it simplifies risk assessment and AML management. In terms of time and cost-effectiveness it ensures complete prevention of and protection against financial crime while allowing full AML compliance. Response time in Fraud investigation has increased to a percentage as high as 70%. Adding to this, the innovation has also added to our customers profitability.
Status of Innovation: In-market
Innovation Active Since: 07/22/2019
Applicant Type: Private Company
Headquarter City: LARNACA
Headquarter Country: CYPRUS
Year Founded: 2008
Main Category
Main Category Choice: Compliance Solution
Why do you think you should win this category?:
The AML & KYC Compliance offers full spectrum of due diligence and compliance functions, including a complete Risk Evaluation. It performs a thorough examination of AML and KYC, but ensures good management via mitigating actions.
It presents a maturity cycle, constantly adding to its functionality and dynamic in terms of Fraud Detection and Compliance Management.
Large to smaller volume scale organisations
1. TFI Markets: PSP
2. eCREDO: digital financial services firm
3. Jando: PSP
4. NETinfoPAY: PSP
Our team monitors the Compliance environment and innovations taking place within automation principles, while nurturing a training environment.
Innovation is heartily rooted within iSPIRAL, which ultimately differentiates us from competitors, while addressing Regulatory Compliance processes in:
• KYC Onboarding & Profiling, Risk Scoring, eID & eDoc Verification, Transaction Monitoring
Treating each client request with a unique approach and our low prices is ultimately the reason that the above list of clientele is growing.
Secondary Category
Secondary Category Choice: Technology Innovation
Why do you think you should win this category?
iSPIRAL delivers innovative solutions, focusing on KYC, AML, Compliance challenges, with emphasis in Financial Institutions and Remittance Companies. The AML & KYC Compliance Solution is a radical technological innovation embedding number of solutions (KYC On boarding and Profiling, AML Risk Categorization, Electronic Identity Verification, Negative Lists Screening, Electronic Document Verification, Transaction Monitoring, Case Management, Machine Learning for Fraud and Anomalies etc.). The innovation helps organisations deal with compliance obligations relating to AML Directive efficiently and within budget.
Large to smaller volume scale organisations have implemented the solution:
· TFI Markets: PSP
· eCREDO: digital financial services firm
· Jando: PSP
· NETinfoPAY: PSP
Our differentiation stems from machine learning technology initiatives, real-time activity monitoring, and data analysis implementation. Team members are committed to excel by being on top of regulatory updates and developments.
Team Members
Full Name: ANASTASIOS TTINIOZOU
Role: Executive Director
Linkedin: https://www.linkedin.com/in/ttiniozou/
Full Name: Christos Ttiniozou
Role: Managing Director
Link: https://www.linkedin.com/in/tiniozos/
Full Name: Marina Sizinou
Role: Business Development
Link: https://www.i-spiral.com/index.php/about/who-we-are/meet-our-team
Supporting Links
Solution link: https://www.i-spiral.com/index.php/products/premium-aml-kyc-compliance-software
iKYC tool – module within the solution: https://www.ikyc.eu/
Entry Representative
Full Name: ANASTASIOS TTINIOZOU
Role: Executive Director
