AML automation company Strise has announced that PwC Norway has implemented its AML Automation Cloud to augment its AML processes and reduce manual work. Streamlining workflows and reducing manual efforts, Strise’s AML Automation Cloud enables enterprises like PwC Norway to more 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. Simplifying AML operations and reducing costs through automation 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.

Moreover, global financial crime costs banks around the world USD 2.1 trillion each year, as per the press release. 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.

Executives from Strise said that securing PwC Norway as a client is a big achievement for them. 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 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.

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