Kharon And CSI Partner To Offer Precision Intelligence For KYC And Sanctions Risk Management

Rhea-AI Summary

Kharon has partnered with Computer Services, Inc. (CSI) to enhance financial crime and trade control frameworks for their customers. This collaboration offers access to Kharon's extensive datasets, including the 50 Plus dataset that identifies entities linked to sanctioned parties, among others. Victoria Lumb of Kharon noted the difficulties in navigating ownership chains, while Kurt Guenther of CSI emphasized the need for high-quality data to improve compliance processes. Kharon is renowned for its data analytics in global security threats, serving a variety of clients from financial institutions to public sector entities.

Positive

• Partnership enhances customer access to critical datasets for better compliance.
• Kharon's 50 Plus dataset offers insights into entities linked to sanctioned parties.
• Partnership aims to optimize compliance processes for businesses with limited resources.

Negative

• None.

LOS ANGELES, May 17, 2021 /PRNewswire/ -- Kharon, the research and data analytics company focused on security threats and other controversies that impact global commerce and finance, and Computer Services, Inc. (CSI), a provider of end-to-end fintech and regtech solutions, today announced they have partnered to offer customers access to research and data analytics that will enhance their financial crime and trade control frameworks.

Kharon looks beyond the lists of sanctioned actors and entities to provide organizations with broader and more in-depth coverage by identifying the networks surrounding sanctioned actors that equally pose threats to financial crimes and trade compliance. Kharon's 50 Plus dataset, which includes thousands of entities that do not appear on the sanctions list but are majority owned by sanctioned parties, will be available to CSI customers, as will Kharon's Venezuela and Maritime datasets.

Victoria Lumb, Head of Sales, Kharon said: "The 50% rule in particular continues to be a challenge for many businesses that do not have the internal resources to investigate and continuously update what can often be complex and extensive ownership chains. All Kharon's datasets enable faster, more informed decision-making, and therefore more robust compliance frameworks. We are delighted to partner with CSI who share our ambition to empower businesses with better data and analytics while protecting them from the complications that arise from overscreening."

Kurt Guenther, Group President, CSI Business Solutions, said: "Optimizing and streamlining the compliance process is essential for all businesses, particularly those with limited resources. This means reducing the amount of poor quality data and analytics that you might be relying on, and replacing it with the kind of high quality intelligence that can transform your compliance program and ensure your business meets regulatory expectations."

About Kharon

Kharon is a leading provider of research and data analytics, focused on global security threats and other controversies that impact global commerce and finance. Kharon's clients include first tier international financial institutions, global corporates, public sector entities and professional services firms. Kharon is headed by former senior officials from the U.S. Department of the Treasury, and experienced professionals in software development and data science.

For more information or to join the Kharon team, visit www.kharon.com and connect with us on LinkedIn and Twitter.

About Computer Services, Inc.

Computer Services, Inc. (CSI) delivers innovative financial technology and regulatory compliance solutions to financial institutions and corporate customers across the nation. Through a combination of expert service, cutting-edge technology and a customer-first mentality, CSI excels at driving businesses forward in a rapidly changing industry. CSI's expertise and commitment to authentic partnerships has resulted in the company's inclusion in such top industry-wide rankings as the FinTech 100, American Banker's Best Fintechs to Work For and MSPmentor Top 501 Global Managed Service Providers List. CSI's stock is traded on OTCQX under the symbol CSVI. For more information about CSI, visit www.csiweb.com.

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SOURCE Kharon

FAQ

What is the partnership between Kharon and Computer Services, Inc. (CSVI)?

Kharon and CSI have partnered to provide enhanced research and data analytics for financial crime and trade control frameworks.

What datasets will be available to CSI customers?

CSI customers will have access to Kharon's 50 Plus dataset, along with Venezuelan and Maritime datasets.

How does the partnership aim to help businesses?

The partnership intends to streamline compliance processes and provide high-quality data to assist businesses in navigating complex ownership chains.

When was the partnership between Kharon and CSI announced?

The partnership was announced on May 17, 2021.

What is the significance of the 50% rule mentioned in the PR?

The 50% rule presents challenges for businesses in identifying ownership structures linked to sanctioned entities.