Singapore/Hong Kong, 15 December 2020 – Exiger has won Best Solution in Enhanced Due Diligence in the 3rd Regulation Asia Awards for Excellence 2020 in an online ceremony on 15 December 2020.
In the hotly-contested category, Exiger emerged as the winner for its DDIQ solution, an AI-based automated due diligence solution that accelerates customer screening and enhances risk assessment. The solution allows users access to tens of thousands of structured and unstructured data sources for due diligence, boasting data from 300 million companies and six billion individuals.
Currently, Exiger has more than 200 clients using DDIQ to uncover financial crime risk. The solution is typically deployed for adverse media monitoring, watchlist screening, third party and transactional due diligence, KYC uplift, and customer risk assessments. In the APAC region, the last 12 months have seen significant growth in uptake of DDIQ, including adoption by several global institutions with APAC operations, a major Singapore bank, and prominent regulators in the region.
DDIQ is able to analyse structured and unstructured information across languages, and is fully integrated with Exiger’s enhanced due diligence offering. Enhanced due diligence teams can leverage DDIQ’s data and analytics to quickly determine any risks associated with individuals or companies, which is supplemented by investigative due diligence to provide a complete picture of risk.
“Exiger’s DDIQ solution is differentiated by its use of data analytics and AI to perform screening against an extensive database and set of watch lists covering sanctions and negative news in multiple languages,” said one judge on the awards panel. “Its algorithm focuses on noise reduction and lowering false positive rates – a pervasive issue for banks and a challenge for the industry as a whole. DDIQ’s unparalleled risk identification capabilities are a key factor in Exiger’s ability to produce high quality EDD [enhanced due diligence] reports.”
About the Regulation Asia Awards for Excellence 2020
The Regulation Asia Awards for Excellence recognises financial institutions, technology companies, legal and consulting firms, exchanges and other players that have helped meet the challenges of the ever-changing and increasingly complex regulatory landscape in Asia Pacific. Each year, submissions are diligently evaluated and award winners selected by a panel of industry experts serving as judges.
The full list of award winners is available here.
About Regulation Asia
Regulation Asia is the leading source for actionable regulatory intelligence for Asia Pacific markets. With over 8,500 subscribers, including regulatory bodies, exchanges, banks, asset managers and service providers, Regulation Asia plays a key role in shaping the regulatory agenda.