What's new at Strise

KLP joins the growing list of financial institutions connecting with Strise's AML Automation Cloud

Oslo, 13th of November – Strise, the leading Anti-Money Laundering (AML) automation company, is excited to announce that KLP, one of Norway's largest pension fund managers, is now a customer. KLP is teaming up with Strise, which was named one of Fast Company’s 2024 Most Innovative Companies, to implement Strise's solutions and improve their AML processes. The solution provided by Strise, in combination with the AML software Stacc, will enable KLP to manage customer measures more efficiently and in a more streamlined manner.

By connecting to Strise’s AML Automation Cloud, KLP can better manage its AML data processes and streamline workflows, allowing analysts to spend less time on repetitive tasks and focus more on critical decision-making. Strise’s advanced AI technology and graph models unify all relevant AML data into one up-to-date system, supporting KLP in improving workflow management, reducing risks, and maintaining accurate data throughout its AML compliance processes.

Marit Rødevand, CEO and co-founder of Strise, says: “We are thrilled to have KLP as a customer. They are one of Norway’s most respected financial institutions, and KLP is also our first public sector client, which makes this collaboration particularly exciting. KLP’s commitment to operational excellence aligns perfectly with our mission to fight financial crime through innovative technology, and we are eager to work together.”

Thomas Nielsen, SVP of Financial Crime at KLP, comments: “The solution provided by Strise, in combination with Stacc, will enable KLP to manage customer measures more efficiently and in a more streamlined manner. Additionally, the goal is to improve the customer experience through more effective information sharing and reuse of customer data across the company. This solution will also help automate processes that were previously partially manual.”

This collaboration comes as Strise continues its rapid expansion, supported by key relationships with major financial institutions like Storebrand, Vipps MobilePay, and PwC. Strise’s technology is gaining popularity across Europe as the preferred solution for enhancing compliance and streamlining AML operations.

After announcing its $10.8 million Series A funding round led by Atomico in September 2023, Strise has grown to nearly 50 employees. The company has also expanded its data capabilities to provide insights into over 1 billion international entities and 11 million private individuals. With KLP coming on board, Strise is solidifying its position as a leader in AML automation and making a substantial impact in the financial services industry.

KLP

KLP (Kommunal Landspensjonskasse) is Norway's largest pension company, originally established to provide municipal employees with a secure pension plan. Founded by a collective effort of small municipalities, KLP now manages pensions for over 900,000 members, including nurses, ambulance workers, firefighters, and many others serving the public.

Owned by employers in the municipal and healthcare sectors, all profits are returned to these owners, contributing to essential services like schools and nursing homes. With over 1.000 billion NOK in managed assets and more than 1,000 employees, KLP is committed to ensuring the best return on pension funds, simplifying the complexities of pensions, and guiding members through changes in public sector pension schemes.

Learn more at www.klp.no.

Strise

Strise leads the AML automation revolution, transforming compliance teams into essential assets for organisations. Our commitment to automation, cutting-edge AI, and user-centred design drives this shift. 

At the core of our innovation is the AML Automation Cloud, powering comprehensive solutions for KYC and KYB, sanctions and politically exposed screening, ongoing due diligence, and automated onboarding of retail and corporate clients. Strise stands out in the AML landscape by offering a solution that addresses both the AML data and workflow problems for financial services in one solution.

By using Strise, AML and compliance teams are soaring to new heights, operating at super-speeds and becoming unprecedentedly efficient. With our approach, users have reported a significant 90% reduction in time spent on due diligence, from days to minutes, and a 30% reduction in cost. 

For more information: www.strise.ai

Strise and Stacc are excited to announce a strategic partnership to transform the fight against money laundering.

Financial crime fuels terrorism, corruption, and organised crime, posing a serious threat to global security. Despite significant investments in technology and personnel, the problem keeps growing. The consequences are devastating—not just for societies but also for individuals directly affected. In response to this urgent challenge, Strise and Stacc are teaming up to offer comprehensive solutions that can make a real difference. By integrating Strise's unified data model with Stacc's AML & KYC Management tool, they aim to revolutionise how financial institutions detect and prevent money laundering.

How the partnership works

Strise's AML Automation Cloud will deliver rich, analyst-ready data directly into Stacc's AML & KYC Portal through API integration. This seamless data flow provides Stacc customers with pre-linked and continuous AML insights, enabling proactive and informed decision-making.

Strise leverages advanced entity resolution technology to match, merge, and consolidate AML data into an analyst-ready format. Stacc, experts in customising user-facing compliance tools, joins forces with Strise to expand the reach of the AML Automation Cloud to a broader range of businesses. This partnership dramatically enhances the efficiency of AML analyst teams by reducing time spent on manual tasks, enabling them to focus on high-level risk management. 

This partnership matters because it addresses the root of a global crisis with innovative technology and collaborative expertise. By removing obstacles that have historically hindered effective AML efforts—such as fragmented data sources and inefficient workflows—financial institutions are now better equipped to combat financial crime.

"Financial crime is not just a regulatory issue—it's a global crisis that demands immediate and effective action," said Marit Rødevand, CEO of Strise. "Together with Stacc, we're providing solutions that not only improve AML compliance but also make a real difference in the fight against financial crime."

"Strise and Stacc have the tools and the technology to create meaningful change," added Philip Røer, Managing Director of the AML team at Stacc. "By uniting our strengths, we're offering comprehensive solutions that empower institutions to combat financial crime more effectively."

About Stacc

Stacc is a software company established in 2016, providing software solutions and services to banks and financial institutions in the Nordic region. Stacc consists of approximately 250 employees spread across offices in Bergen, Oslo, Stockholm, Skövde, and Aarhus. Stacc has more than 280 customers in the Nordics within banking and finance, insurance, pension funds, investment companies, and the public sector. Since 2016, Stacc has more than thirtyfolded its revenue and has ambitions for growth both in the Nordics and internationally.

For further information about Stacc, visit www.stacc.com

Staccs efficient and user-friendly AML & KYC Management tools combine legal compliance with operational efficiency, offering automated workflows, digital signing, automatic triggers and notifications, a customer portal, and an integrated case management system. The solutions gives customers full control over their compliance work, enhancing both user experience and regulatory confidence.

About Strise’s partner offering

Strise’s AML Automation Cloud is driving the future of financial crime prevention. By unifying global AML data and automating complex processes, it empowers institutions to combat financial crime with unmatched speed, accuracy, and intelligence. 

Built on an API-driven infrastructure, it integrates seamlessly with a robust partnership ecosystem. Partners can plug into the AML Automation Cloud to enhance their products with Strise's comprehensive AML, UBO, and network data, creating smarter workflows that reduce risk and improve efficiency.

Leading anti-money laundering (AML) automation company, Strise (www.strise.ai) today announces that it has signed PwC Norway (www.pwc.no), the Norwegian firm in the world-leading professional services network, as a new client. By adopting Strise’s AML Automation Cloud, PwC Norway is set to enhance its AML processes and save significant hours of manual work annually from day one. This will reduce costs and ensure comprehensive compliance across its operations.

Streamlining workflows and reducing manual efforts, Strise’s AML Automation Cloud enables enterprises like PwC Norway to easily navigate AML compliance. By automating the sourcing and triangulation of AML data, it provides pre-populated, analyst-ready insights that enhance efficiency for the analyst teams.

PwC Norway’s teams will be able to improve processes such as AML data management, client onboarding, and ongoing due diligence within the AML Automation Cloud. Strise simplifies operations by reducing the need for multiple data vendor agreements and various software tools, providing a central system for the organisation—from engagement teams conducting pre-screening to the risk and quality department managing full KYC (Know Your Customer).

Moreover, global financial crime costs banks around the world $2.1 trillion each year. The banks have only kept up by allocating ever-increasing resources to performing manual processes, an approach that is simply no longer scalable. Strise’s AML Automation Cloud turns the tide on this - combining information on persons, roles, and networks into one unified, future-proof data model by sourcing and triangulating region-specific data from third-party providers so businesses no longer have to.

Marit Rødevand, CEO and co-founder of Strise, says: “Securing PwC Norway as a client is a tremendous achievement for Strise. The Strise AML Automation Cloud is specifically designed to alleviate the burden of time-consuming and costly AML processes for large organisations like PwC Norway, empowering them to focus on what truly matters - delivering excellence to their clients.

Already a partner to 70% of the Nordic region’s top-tier banks, Strise now provides AML automation to the Norwegian contingent of one of the world’s leading professional services firms in PwC Norway, to further diversify the scope of Strise’s solutions.

This follows its Atomico-led $10.8mn Series A funding round in September 2023, from which Strise has grown to 50 employees and opened a London office. The company - recently named in Fast Company’s 2024 Most Innovative Companies list - has now significantly expanded its data model, providing insights on over 1 billion international entities and 11 million private individuals.

About Strise

Strise leads the AML automation revolution, transforming compliance teams into essential assets for organisations. Our commitment to automation, cutting-edge AI, and user-centred design drives this shift. At the core of our innovation is the AML Automation Cloud, powering comprehensive solutions for KYC and KYB, sanctions and politically exposed screening, ongoing due diligence, and automated onboarding of retail and corporate clients. 

Strise stands out in the AML software landscape by offering a solution that addresses both the AML data and workflow problems for enterprises in one solution. By using Strise, AML and compliance teams are soaring to new heights, operating at super-speeds and becoming unprecedentedly efficient. With our approach, users have reported a significant 90% reduction in time spent on due diligence, from days to minutes, and a 30% reduction in cost. For more information: www.strise.ai
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Media contact:
Lars Lunde Birkeland, CMO, Strise
lars@strise.ai

‍Oslo, September 4, 2024—Strise (www.strise.ai), the leading provider of AML (Anti-Money Laundering) automation solutions, today announced that Fremtind, a prominent player in the insurance sector, has become a client. Fremtind’s corporate markets team will leverage Strise to enhance efficiency, reduce workload, and standardise outputs, particularly in handling customer cases requiring Enhanced Due Diligence (EDD).

By adopting Strise’s product module, Strise Case, Fremtind is set to enhance its case-handling processes, allowing its analysts to focus more on critical decision-making rather than getting bogged down by time-consuming manual tasks. The implementation of Strise is expected to improve the efficiency of Fremtind’s corporate market team while ensuring that their customer management and EDD processes remain consistent and compliant.

‍Mariann Floten, Head of AML Corporate Markets at Fremtind, highlighted the impact of this collaboration: “Becoming a Strise client marks a significant step forward in our approach to AML compliance. Strise will allow us to better streamline our customer case handling processes, ensuring that our team can handle Enhanced Due Diligence cases more efficiently. We’re confident that this will enable us to better serve our clients while maintaining the highest standards of compliance.”

Marit Rødevand, CEO of Strise, expressed her excitement about the new client: “We’re thrilled to welcome Fremtind as a Strise customer. The ability to automate and standardise customer due diligence processes, especially in cases requiring EDD, is a game-changer for many organisations. Strise is designed to reduce the manual burden on AML teams, enabling them to focus on what truly matters—making informed, strategic decisions that drive business success.”

This client acquisition further solidifies Strise’s position as a leading provider of AML automation solutions, helping companies like Fremtind to enhance their AML processes and operational efficiency. With Strise, Fremtind is poised to lead the way in innovation and customer service within the insurance industry.

This follows its Atomico-led $10.8mn Series A funding round in September 2023, from which Strise has grown to nearly 50 employees and opened a London office. The company - recently named in Fast Company’s 2024 Most Innovative Companies list - has now significantly expanded its data model, providing insights on over 1 billion international entities and 11 million private individuals.

‍About Fremtind

Fremtind is a leading insurance provider in Norway, and the largest provider of property and casualty insurance through banks. Our customers are private individuals, agricultural, and business clients. With a focus on innovation and customer satisfaction, Fremtind is committed to delivering solutions that meet the evolving needs of its clients.

About Strise

Strise leads the AML automation revolution, transforming compliance teams into essential assets for organisations. Our commitment to automation, cutting-edge AI, and user-centred design drives this shift. At the core of our innovation is the AML Automation Cloud, powering comprehensive solutions for KYC and KYB, sanctions and politically exposed screening, ongoing due diligence, and automated onboarding of retail and corporate clients. 

Strise stands out in the AML software landscape by offering a solution that addresses both the AML data and workflow problems for enterprises in one solution. By using Strise, AML and compliance teams are soaring to new heights, operating at super-speeds and becoming unprecedentedly efficient. With our approach, users have reported a significant 90% reduction in time spent on due diligence, from days to minutes, and a 30% reduction in cost. For more information: www.strise.ai

Media contact:
Lars Lunde Birkeland, CMO, Strise
lars@strise.ai

‍Oslo, September 4, 2024—Strise (www.strise.ai), the leading provider of AML (Anti-Money Laundering) automation solutions, today announced that Fremtind, a prominent player in the insurance sector, has become a client. Fremtind’s corporate markets team will leverage Strise to enhance efficiency, reduce workload, and standardise outputs, particularly in handling customer cases requiring Enhanced Due Diligence (EDD).

By adopting Strise’s product module, Strise Case, Fremtind is set to enhance its case-handling processes, allowing its analysts to focus more on critical decision-making rather than getting bogged down by time-consuming manual tasks. The implementation of Strise is expected to improve the efficiency of Fremtind’s corporate market team while ensuring that their customer management and EDD processes remain consistent and compliant.

‍Mariann Floten, Head of AML Corporate Markets at Fremtind, highlighted the impact of this collaboration: “Becoming a Strise client marks a significant step forward in our approach to AML compliance. Strise will allow us to better streamline our customer case handling processes, ensuring that our team can handle Enhanced Due Diligence cases more efficiently. We’re confident that this will enable us to better serve our clients while maintaining the highest standards of compliance.”

Marit Rødevand, CEO of Strise, expressed her excitement about the new client: “We’re thrilled to welcome Fremtind as a Strise customer. The ability to automate and standardise customer due diligence processes, especially in cases requiring EDD, is a game-changer for many organisations. Strise is designed to reduce the manual burden on AML teams, enabling them to focus on what truly matters—making informed, strategic decisions that drive business success.”

This client acquisition further solidifies Strise’s position as a leading provider of AML automation solutions, helping companies like Fremtind to enhance their AML processes and operational efficiency. With Strise, Fremtind is poised to lead the way in innovation and customer service within the insurance industry.

This follows its Atomico-led $10.8mn Series A funding round in September 2023, from which Strise has grown to nearly 50 employees and opened a London office. The company - recently named in Fast Company’s 2024 Most Innovative Companies list - has now significantly expanded its data model, providing insights on over 1 billion international entities and 11 million private individuals.

‍About Fremtind

Fremtind is a leading insurance provider in Norway, and the largest provider of property and casualty insurance through banks. Our customers are private individuals, agricultural, and business clients. With a focus on innovation and customer satisfaction, Fremtind is committed to delivering solutions that meet the evolving needs of its clients.

About Strise

Strise leads the AML automation revolution, transforming compliance teams into essential assets for organisations. Our commitment to automation, cutting-edge AI, and user-centred design drives this shift. At the core of our innovation is the AML Automation Cloud, powering comprehensive solutions for KYC and KYB, sanctions and politically exposed screening, ongoing due diligence, and automated onboarding of retail and corporate clients. 

Strise stands out in the AML software landscape by offering a solution that addresses both the AML data and workflow problems for enterprises in one solution. By using Strise, AML and compliance teams are soaring to new heights, operating at super-speeds and becoming unprecedentedly efficient. With our approach, users have reported a significant 90% reduction in time spent on due diligence, from days to minutes, and a 30% reduction in cost. For more information: www.strise.ai

Media contact:
Lars Lunde Birkeland, CMO, Strise
lars@strise.ai

Sometimes less is more, and sometimes more is more 🤔

The more feedback we gather from Strise users, the clearer it becomes that the ability to customise the data Strise fetches for its users remains one of the biggest reasons compliance teams choose Strise.

Team managers, with the latest update, you can now set the criteria for the sanctions that Strise matches. This means that instead of just casting out a wide net to see what Strise collects, you can tailor matches based on your company's specific risk policy. Simply put, it's giving you control over the parameters of sanctions flagged, rather than Strise making that default decision for you.

In Sanctions settings, you can adjust the percentages and experiment with the data results you see. Once you've selected the percentage you're happy with, the change will be reflected at the team level.

Data and workflows working together effectively — that's the Strise effect you can expect.

The future is not AI. Okay, that was said for effect. But really it isn't. The future is AI in the hands of very smart people. While many of us might know that, it's still a common assumption we're working out of the AI zeitgeist.

At Strise, we aim to build tech that finds the perfect symbiosis between technology and human ingenuity. And if our customers feel empowered in their day-to-day jobs, that's where we know we've won.

You might have noticed two updates already this year about Strise's ownership feature, so why another one? While Strise's ultimate beneficial owner (UBO) maps are a hallmark of what makes our product so unique, they've needed constant improvement to land at the place we are now. With confidence we've eradicated the frustrations and pain points of working with ownership charts for our customers. They now have full access to unprecedented data but they have full autonomy to add, edit, delete or comment on that data. One update is automatically changed for the team, making workflows super, super simple and efficient.
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This is definitely something that is better experienced by yourself so we've put together a 2-minute all-access demo that runs through all of Strise's ownership features.

👉 Try the ownership demo and enjoy!

Yes, yes, we realise it wasn't that long ago when we released our edit company ownership feature. And while most of Europe took a summer break, our team worked hard on significantly enhancing the editing capabilities of our UBO (Ultimate Beneficial Owner) maps.

Now, you can add comments when editing a company's owner. The comments will appear both in your Strise Review and the PDF report.

Solving even the tiniest pain point is top priority to us at Strise. We aim to listen closely to our customers and gather intel on how they're using Strise and what could be improved. Our product and tech teams then collaborate to find smart solutions to ease every step of the AML process. Tedious, manual AML processes are a thing of the past. We're delivering an AML intelligent system that is intuitive and effective.

We have a lot more to share about what we've been up to, watch this space.

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Ain't nobody got time for outdated data 🥱

We've all heard some breaking news and reached for our phones to search Wikipedia for more about the person in question. It's expected that even if the news is minutes old, the entry will be updated. In fact, every two seconds someone is updating a Wikipedia page.

Ownership is pretty important at Strise. Our UBO maps are our signature feature for a reason. That's why it's imperative that our users should be able to amend and edit the ownership structures of a company the minute they get new information.

Strise's latest feature, Edit Ownership, does just that. Now you can make reliable and efficient edits to ownership information and have a centralised location for updating data; streamlining the process of ownership. Quick and accurate data management is key to making sound business decisions, especially with no loss to your workflow. Nice!

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Strise Reviews have always onboarded new customers in a fraction of the speed it used to take. With a few clicks, you could fetch the PEP, Sanction and credit score of a company. But in the age of automation, that's 3 steps too many. With Strise's advanced data model, we knew we could do better 💯

Strise Reviews are now even more efficient! When you start a Strise Review, a pre-populated checklist is immediately filled with all the data you need to onboard and review a new customer. You simply get more information in less time. Not only is it just super fast and efficient, it gives you a complete picture of the customer you're reviewing. Automating these checks gives you more information than you might need but in turn, gives you a new standard for onboarding customers.

Add Strise's product update page to your RSS to keep up with the new ways we're automating the KYC process.

Fewer false positives? Yes 🥳

Some of Strise's best features don't always make it to the top of an update page. But we want to let you now two reasons why a Strise search yields fewer false positives than any other search.

One of the latest Strise's latest update now extends filters for PEPs by full date of birth (if available), reducing the number of false positives when name and birth years identical. By leveraging full date of birth information, the Strise system can more accurately identify politically exposed people and prevent regulatory compliance issues.

We've also improved how we match subsets with regards to names. Many users received false positives when a the full names of potentially sanctioned people differed from list to list. This often happened if an individual's initial or middle name was, or wasn't, included in a sanction list. Strise takes care of those sneaky changes by being intelligent enough to know when initials or middle names are omitted.

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There's been a bit of spring cleaning behind the scenes in the Strise system 🧼

You might've already noticed it but we're excited to announce that Settings has had a refresh.

Now taking up less space, the new Settings modal has been streamlined to provide you with an even more intuitive user experience. You'll find all of the same Settings options as before, only now, they're even easier to navigate and understand. Whatever tweaking you need to do to your account, the upgraded Settings modal makes it a lot easier to do.

Enjoy the new look and feel! Get in touch if there's anything else we can do to make your Strise experience even better.

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Quick access to accurate information is crucial to making business decisions. Strise's latest update gives you more detailed information about why a company or person has been sanctioned 🔎

The data has always been available but now, we've just made it even more convenient by displaying the metadata as a hover view. Simply hover your cursor over the sanction alerts and you'll have immediate access to the detailed information you need, eliminating the need for tedious manual searching or sifting through endless pages.

The new feature is designed explicitly with our users' needs in mind, providing a user-friendly way to access detailed information quickly without compromising our platform's reliability and accuracy. Our goal is to make the process of accessing detailed sanction information as simple and efficient as possible, enabling you to focus on tasks that matter.

Sanctions can be complex, and Strise has been designed to simplify the entire process. We know that the more access you have to information, in the quickest way, will inform the decisions you make. In the end, those informed decisions put a stop to money laundering and fincrime attempts.

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