“We continue to see increased demand from large enterprises, all of whom are unhappy with the status quo and are looking to improve efficiency and efficacy by evolving from overly manual, inefficient, on-premise financial crime risk management solutions,” said ComplyAdvantage CEO Vatsa Narasimha. “Paul’s impressive record of accelerating growth for AI-driven, cloud-native, risk and security companies will be critical as we demonstrate the value ComplyAdvantage can bring to those global customers.”

Kizakevich joins ComplyAdvantage from AI-augmented software testing automation platform Katalon, where he served as president and CRO. Katalon was featured on Deloitte’s 2023 Technology Fast 500 thanks to its 3,482 percent revenue growth in the preceding three years. Prior to that, he was CRO at ASAPP, an AI-driven customer interaction platform delivering more than $100M in operational efficiency gains for Fortune 100 organizations. Kizakevich was also a senior vice president at the real-time customer experience and security platform ThousandEyes (now part of Cisco after an approximately $1B acquisition), working with global financial services companies, such as JPMorganChase, Bank of America, and Lloyds.

At ComplyAdvantage, Kizakevich will oversee the global commercial organization to increase global market penetration, invest in its thriving partner ecosystem, and ensure material success for its 1,600 customers. His appointment also reflects the company’s momentum in the U.S. market. Eric Lightfoot, VP of sales, also joined ComplyAdvantage in April 2024 to help further accelerate growth in this market.

“ComplyAdvantage has an impressive track record of using AI to disrupt the fraud and anti-money laundering market,” Kizakevich said. “The company’s team of dedicated individuals is focused on providing the technology, data, and insights to help customers manage their risk exposure and fight financial crime. I am thrilled to join this group of extraordinary people to help the company achieve its vast potential.”

This announcement follows ComplyAdvantage’s recent acquisition of Golden and continued product momentum. The company was again placed in G2’s Leader Quadrant for Anti-Money Laundering solutions, recognizing the consistently strong customer feedback on its products.

About ComplyAdvantage

ComplyAdvantage is the financial industry’s leading source of AI-driven financial crime risk data and fraud detection technology. ComplyAdvantage’s mission is to neutralize the risk of money laundering, terrorist financing, corruption, and other financial crime. More than 1,300 enterprises in 80 countries rely on ComplyAdvantage to understand the risk of who they’re doing business with through the world’s only global, real-time database of people and companies. The company identifies thousands of risk events daily from millions of structured and unstructured data points.

ComplyAdvantage has five global hubs in New York, Lisbon, London, Singapore, and Cluj-Napoca and is backed by Andreessen Horowitz, Goldman Sachs, Ontario Teachers’ Pension Plan, Index Ventures, and Balderton Capital. Learn more at complyadvantage.com.

The post ComplyAdvantage Hires Paul Kizakevich as CRO first appeared on FinTecBuzz.

“Business accounts present a tremendous growth opportunity for most companies, but onboarding and monitoring them is hugely time-intensive and inefficient for their analysts.  Our new KYB solution provides the data and insights our customers need to make informed decisions much faster and manage their risks more effectively,” said ComplyAdvantage Chief Product Officer Oliver Furniss.

Automated Process

Currently, companies like banks typically spend as much as 14 days conducting the necessary background checks when opening a business account. By automating most of the process, KYB by ComplyAdvantage dramatically reduces the time needed for manual research. Once the company creates a new customer profile, KYB automatically checks the name against business registries and fills in all the key information about the business executives. Adverse media tools are available to further research high-risk individuals.

“As a digital trade finance platform, automated onboarding and efficient KYB is critical for 40Seas. ComplyAdvantage’s KYB solution was really easy to get up and running. With the system we’re able to verify our customers in seconds, improving the customer experience and ensuring we can mitigate risk effectively,” said Igor Zaks, Co-Founder and Chief Risk Officer, 40Seas

Flexible Risk Weightings

Accurately assessing business risk requires companies to research numerous variables ranging from the age and location of the business to its industry vertical and governance, ComplyAdvantage has made it easy for administrators to create a variety of risk profiles and tailor them to their risk policy. By providing a flexible configuration that can populate and update automatically, ComplyAdvantage relieves analysts of numerous micro-assessments so they can focus their time and effort on overall rating, prioritizing their time and efforts on higher-risk businesses and quickly processing those that are lower-risk, creating efficiencies.

Dynamic Risk Scoring

KYB by ComplyAdvantage features a dynamic risk scoring feature that automates the risk management process whenever changes occur in a business customer’s ownership, credit rating, trading amounts, or directorship/governance. Traditionally a manual task, this process often burdens banks and financial institutions with valuable resources and exposes them to potential risks due to missed critical changes in management.

Oliver Furniss emphasized the impact of dynamic risk scoring: “Banks and other companies leveraging Dynamic Risk Scoring significantly enhance the speed, accuracy, and efficiency of their business onboarding operations, bolstering their overall operations and reinforcing the robustness of the financial system.”

KYB by ComplyAdvantage is currently available in the United States. Additional regions will be added in 2024.

About ComplyAdvantage

ComplyAdvantage is the financial industry’s leading source of AI-driven financial crime risk data and fraud detection technology. ComplyAdvantage’s mission is to neutralize the risk of money laundering, terrorist financing, corruption, and other financial crime. More than 1000 enterprises in 75 countries rely on ComplyAdvantage to understand the risk of who they’re doing business with through the world’s only global, real-time database of people and companies. The company identifies thousands of risk events daily from millions of structured and unstructured data points.

ComplyAdvantage has four global hubs in New York, London, Singapore, and Cluj-Napoca and is backed by Goldman Sachs, Ontario Teachers, Index Ventures, and Balderton Capital. 

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