PWC Partner with Due Diligence Tech Startup Neotas for Combating Financial Crime – TECHNOLOGICAL TRUSTER

The partnership, which is already under way, will see PwC Intelligence’s business use Neotas’ open source intelligence (OSINT) technology to identify, assess and report on financial, regulatory, compliance and reputational risks posed by third parties. .

Combining PwC’s strengths and expertise with the innovative specialized technology developed by Neotas will enable PwC to tackle major financial crimes and third-party risk challenges.

“Global corporate giant PwC will fight the rise in financial crime and third-party risk by partnering with state-of-the-art startup Neotas for due diligence.

With regulators enforcing the adoption and integration of open source technology as best practice, PwC’s partnership with Neotas underscores their commitment to adopting a more proactive risk management model and providing the best OSINT capabilities to its customers.

The Neotas platform will enable the RADAR PWC Integrity Verification Service to scale to address new risk areas, including ESG, financial solvency, social media and more from a single centralized platform.

The inclusion of a centralized platform will bring significant operational efficiencies. Analysts can expect to save up to 70% of research time alone, while data will be analyzed in over 200 languages.

The change will allow PwC analysts to maximize their focus on risk analysis, while ensuring consistency and complete auditability.

Craig Fitzpatrick, Director of Corporate Intelligence, Forensic Services at PwC on Neotas:

“Our partnership with Neotas provides our intelligence team with unrivaled access to cutting-edge open source intelligence technology, with the ability to analyze information from databases with over 198 million corporate records, along with over 600 billion archived web resources.

One of the biggest challenges in open source intelligence investigations and due diligence is identifying, using, and analyzing the wealth of available online information and monitoring it for proactive risk management. Our collaboration with Neotas will improve the comprehensiveness, speed and consistency of our due diligence and the provision of open source intelligence services to our customers.

Neotas CEO Ian Howard: “We are so proud to start this partnership with PwC, which is an iconic global organization. Our innovative technology will improve PWC’s RADAR offering, allowing their customers to identify risks that remain invisible using traditional due diligence methods.

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