Commercial BSA Platform Provider RiskScout Partners With Abrigo for Financial Crime Detection Platform
AUSTIN, Texas, March 18, 2022 (Newswire.com) - RiskScout, a leading commercial BSA platform utilized to streamline emerging market businesses for financial institutions, announces a partnership with Abrigo, a leader of compliance, credit risk, and lending solutions for financial institutions.
RiskScout empowers financial institutions pursuing higher-risk commercial markets to automate and reduce the BSA and compliance burden, while fueling growth for their organization. Justin Fischer, CEO & Co-Founder of RiskScout, stated, "This new partnership with Abrigo's financial crime detection platform, BAM+, allows financial institutions to detect and prevent money laundering and fraud, protecting the institution and their clients from financial harm. This partnership allows our clients to enhance their money-laundering and fraud monitoring practices while reaping the benefits of expanding into higher risk commercial markets, 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 for 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.
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, RiskScout and Abrigo, 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 on the partnership or RiskScout, please visit www.riskscout.com.
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.
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.