How AI-Powered Insights Are Transforming Risk & Compliance

The integration of artificial intelligence (AI) into the realms of risk and compliance is no longer a futuristic concept but a tangible reality reshaping operational landscapes. Organisations across various sectors are increasingly recognising the potential of AI to augment and enhance their existing frameworks, enabling them to conduct faster, more comprehensive, and, crucially, more insightful risk management and compliance processes. This capability allows for the identification of patterns and anomalies that might be challenging and time-consuming for human analysts to detect through traditional methods.

Through specialised solutions like Handshakes, organisations have the opportunity to move beyond conventional, often resource-intensive approaches and gain a more comprehensive and proactive understanding of risk and compliance obligations. This evolution facilitates the acquisition of critical intelligence, supporting more informed decision-making and bolstering adherence to an increasingly complex web of regulatory requirements in today’s dynamic business environment.

Unlock Critical Connections with Handshakes’s Mapping Technology

A core component of Handshakes’ offering is the Handshakes APP, which incorporates proprietary mapping technology developed to visualise intricate corporate relationships. This tool enables users to identify and understand the often unseen, interconnected links between various companies and individuals. By visualising representations of these networks, the technology can significantly expedite the often laborious process of investigative work and efficiently highlight potential red flags and associated entities that might otherwise remain uncovered within vast datasets.

The Handshakes APP features several distinct map functionalities, each designed to provide a specific lens through which to examine corporate structures. The radial map offers a clear, immediate view of direct relationships emanating from a central entity. The interconnected map expands on this, illustrating complex, multi-layered relationships across numerous entities, revealing indirect connections that can be vital in understanding the broader network.

For the specific purpose of elucidating ownership structures, the Legal Beneficial Map provides a visual representation of the chain of ownership, often extending through multiple layers of holding entities to identify the ultimate beneficial owners of a company.

Similarly, the Investee Map provides a focused view of a company’s investment portfolio, detailing its subsidiaries and other equity holdings. These visualisations are key to understanding true beneficial ownership, a critical aspect of both due diligence check processes and ongoing regulatory compliance, particularly in areas like anti-money laundering and counter-terrorism financing.

Proactive Risk Detection with Handshakes’s Data Advantage

A key differentiator for Handshakes is the breadth and depth of its data ecosystem. As an authorised Information Service Provider (ISP) of ACRA (Accounting and Corporate Regulatory Authority) in Singapore, Handshakes provides access to extensive and up-to-date company registry datasets covering several strategically important Asian markets, including Singapore, Malaysia, Vietnam, and China.

Beyond basic registry information, its data coverage extends to valuable sources such as Singapore litigation records and global business relationship data, offering a more holistic and interconnected view of corporate activities and potential risks, crucial for effective risk management.

Complementing this extensive data access is our proprietary Regulatory, Enforcement & Disciplinary (RED) list report, which offers an efficient and effective method for screening both direct and indirect exposure to a wide range of regulatory actions and enforcement proceedings.

By proactively identifying potential risks associated with specific entities and their broader networks, the RED list serves as a valuable resource for risk and compliance officers, as well as audit, regulatory, and enforcement teams, in their efforts to mitigate potential issues and uphold robust compliance standards.

Handshakes: A Partner in Regulatory Compliance

Appointed by the Monetary Authority of Singapore (MAS), Handshakes is one of the designated screening providers for family offices operating within Singapore. This crucial role supports the ongoing efforts to combat money laundering and other financial crimes within the financial sector and underscores Handshakes’ commitment to supporting regulatory compliance as well as our screening capabilities.

Effective October 1, 2024, all new tax incentive applications submitted by family offices in Singapore are required to include a screening report by Handshakes, which serves as a clear indication that Handshakes’ screening services meet the stringent regulatory compliance standards set forth by a key financial authority. This regulatory endorsement highlights the trust placed in Handshakes to provide reliable data and effective screening tools.

Secure and Sensitive Data Handling with Handshakes FUSE

Recognising the paramount importance of maintaining data security and confidentiality, particularly when dealing with sensitive information within highly regulated industries, Handshakes offers Handshakes FUSE.

This purpose-built solution is engineered to facilitate the secure transfer and seamless integration of sensitive client-proprietary data with Handshakes’ extensive array of publicly available datasets. By establishing a secure data ecosystem, Handshakes FUSE enables organisations to conduct enhanced and more thorough automated risk and compliance checks without compromising the integrity or confidentiality of their sensitive information. This capability is particularly relevant for financial institutions, government agencies and other entities operating under stringent data protection regulations, where the need for compliance automation is often coupled with stringent security protocols.

Facilitating AI-Powered Risk and Compliance with Handshakes

Handshakes, a data analytics company in Singapore, provides a suite of solutions that effectively integrate AI for compliance and risk management to address the evolving challenges of today’s regulatory and risk landscape. These solutions encompass advanced mapping technology for visualising complex relationships and access to a comprehensive data ecosystem built upon authoritative and reliable data sources.

Handshakes SEER also leverages the power of NLP technology to efficiently process and analyse large volumes of unstructured data, such as financial reports, prospectuses, and news articles, extracting pertinent information and insights that would be exceptionally time-consuming and resource-intensive to handle through manual review.

Building upon these core capabilities, Handshakes offers powerful and integrated tools designed to transform and enhance existing operational processes. Our flexible API solutions empower enterprise platforms and workflows with trusted corporate data, providing seamless access to critical insights. Furthermore, our robust KYC platform allows you to integrate reliable corporate registry and capital markets data directly into your platform or toolkit.

Contact us today for a detailed demonstration and to assess the transformative benefits that Handshakes can bring to your organisation’s needs.