What's new at Strise

Oslo, September 11, 2024 – 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