London 1st February 2022: Artesian : DueDil, a leading UK Fintech tackling some of financial services biggest challenges, is pleased to announce a new partnership with enterprise digital identity provider, Umazi. Aiming to set a new onboarding standard for due diligence processes in the SME market, the collaboration between these two influential digital leaders will uniquely facilitate a more streamlined and robust compliance landscape.
Regulated institutions such as banks, FSIs, and law firms must continuously scrutinise the identity and validity of SMEs to assess and classify risk. However, despite being time-sensitive, these processes are typically inefficient. This unique partnership eliminates the burden by combining Umazi’s open-source permissioned blockchain platform, with Artesian : DueDil’s Business Information Graph (B.I.G™) to surface unique insights for advanced validation and verification at scale.
Speaking about the partnership Justin Fitzpatrick, COO and Co-Founder at Artesian : DueDil, commented: “Businesses have suffered the consequences of onerous due diligence requirements and backwards processes for too long. Manual due diligence is not only expensive and time-consuming, but also leaves financial services providers open to unnecessary risk. By working in partnership with Umazi, our aim is to facilitate the cross-industry adoption of more streamlined and continuously updated due diligence. It's a solution that is faster, cheaper and more robust for both businesses and financial services providers.”
Cindy van Niekerk, CEO of Umazi, added: “We are delighted to work with Artesian : DueDil, a partnership that we believe will act as a catalyst for change in the way financial institutions conduct their due diligence on corporate customers. Artesian : DueDil has a long-standing reputation for helping banks, insurers and FinTechs engage and onboard the right business customers. Umazi pioneering digital ledger technology adds to this, creating a re-usable identity that benefits businesses and financial institutions."
NOTES TO THE EDITORS
For more information please contact:
Kelly Prior, PR Consultant
Tel: 07730 572878
About Artesian : DueDil
Artesian : DueDil helps companies in financially regulated industries do better business faster. Its solutions allow front and middle office teams to engage, onboard and retain the right business customers for life. Best-in-class data enrichment provides a comprehensive customer view and a powerful, low-code rules engine reduces the regulatory burden and drives greater automation. Through its web application and best-in-class API, Artesian : DueDil drastically reduces the cost to acquire and serve the right business customers.
Backed by top tier investors including Octopus Investments, Notion Capital, Augmentum Fintech and notable angel investors, Artesian : DueDil brings together decades of combined experience serving UK financial institutions. Today, it serves more than 600 customers and 15,000 end users in 6 of the 10 largest UK banks, as well as top insurers and FinTechs.
Visit https://www.better-business-faster.com/ to find out more.
Umazi facilitates the creation of a cross-industry digital identity, enabling corporates to prove their identity and legitimacy. Umazi offers a compliance solution that drastically reduces the complexity of compliance processes. As a result, further reducing time, costs and risks that are usually involved. Furthermore, it allows for a real-time and transparent audit process, enabling financial institutions to manage their client data more effectively.