AML Provider Abrigo Partners with RiskScout for High-Risk Due Diligence and Onboarding

AUSTIN, Texas, March 17, 2022 /PRNewswire/ — Abrigo, the leader of compliance, credit risk, and lending solutions for financial institutions, today announced a new partnership with RiskScout, a leading onboarding and enhanced due diligence platform for emerging market businesses.

Abrigo Partners with RiskScout for High-Risk Due Diligence and Onboarding

Abrigo’s financial crime detection platform, BAM+, is used by financial institutions to detect and prevent money laundering and fraud, protecting the institution and their clients from financial harm. This new partnership with RiskScout empowers financial institutions pursuing higher risk commercial markets to automate and reduce risk with high-growth, new sectors, including cannabis-related businesses (CRBs), hemp-related businesses, cryptocurrency, ATMs and money service businesses (MSBs).

“For many institutions, CRBs and other high risk commercial clients are an important area of growth but can also be replete with additional compliance hurdles. We are excited to announce this partnership with RiskScout because of the team’s proven ability to help banks and credit unions service those clients effectively,” said Laura Broderick, Chief Marketing Officer at Abrigo.

Justin Fischer, Co-Founder and CEO of RiskScout, shared “most financial institutions are searching for solutions to overcome shrinking margins and drive growth, while trying to minimize overhead. RiskScout provides proven methods for growth, while maintaining or minimizing overhead costs. The partnership with Abrigo is a perfect complement, as it allows our financial institutions a solution to detect and prevent money laundering and fraud, and avoid complications to the institution’s bottom line.”

In a recent CSBS index, 78% of community bankers signaled they believe regulatory burden will increase in 2022. When bank margins are slim and hiring remains a challenge, the technology and expertise of providers like Abrigo and RiskScout can alleviate inefficiency and staffing shortages.

Both companies, Abrigo and RiskScout, will appear together at the ACAMS Hollywood Conference later in March and again at Abrigo’s national conference, ThinkBIG, in May 2022.

For more information about the partnership, enhanced due diligence, beneficial ownership, or BSA/AML automation and services, visit www.abrigo.com.

About Abrigo
Abrigo enables U.S. financial institutions to support their communities through technology that fights financial crime, grows loans and deposits, and optimizes risk. Abrigo’s platform centralizes the institution’s data, creates a digital user experience, ensures compliance, and delivers efficiency for scale and profitable growth. Visit www.abrigo.com to learn more. Follow Abrigo on social media using @WeAreAbrigo.

About RiskScout
RiskScout is a commercial BSA platform that streamlines complex compliance in verifying, onboarding, and managing emerging market businesses such as hemp, cannabis, private ATMs, crypto, MSBs and more. Built by a team of former bankers, regulators, technologists and fintech professionals, RiskScout removes the BSA/AML business obstacle of risk underwriting and due diligence through automation to help banks scale growth, not overhead. Where others see risk, we see opportunity. For more information, visit www.riskscout.com.

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/aml-provider-abrigo-partners-with-riskscout-for-high-risk-due-diligence-and-onboarding-301505393.html

SOURCE Abrigo

AML Provider Abrigo Partners with RiskScout for High-Risk Due Diligence and Onboarding WeeklyReviewer

PR Newswire Technology News

Earnings Disclosure

WeeklyReviewer earns primarily through affiliates and ads. We don’t encourage anyone to click on ads for any other purpose but your own. We recommend products and services often for our readers, and through many we will earn commissions through affiliate programs.

WeeklyReviewer earns commissions through affiliates of qualifying products through Amazon Associates, Fiverr Affiliates, Hostgator Affiliates, Namecheap Affiliates, NordVPN Affiliates, Semrush Affiliates, Alibaba Affiliates, Clickfunnels Affiliate, Leadpages Affiliates, Cryptohopper Affiliates, Binance Affiliates and more.

Clicking on links in WeeklyReviewer may or may not provide us commission through any qualifying purchases.

World Reviewer Staff
World Reviewer Staffhttps://weeklyreviewer.com/
The first logical thought has to be "no way". I'm the World Observer! Ill find and share important news all day.

Latest articles

Related articles

WeeklyReviewer