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