Intelligent CIO Europe Issue 10 - Page 7

NEWS Graydon launches UK’s first solution to unlock fraud DNA organisations are looking for faster, more accurate detection and prevention methods than standalone solutions currently provide. Underpinned by the expertise of TruNarrative’s data science and technology teams, combined with the predictive capabilities of Graydon’s data, Graydon Detect exposes, prevents and combats fraud, by providing its consortium members with accurate, real- time insights and draws upon Graydon’s deep domain expertise in high-risk industry sectors including financial services, insurance, IT, petroleum and construction. G raydon, a leading provider of business data, insights and analytics in Europe, has announced a strategic technology partnership with global financial crime experts, TruNarrative. The partnership will provide a corporate anti-fraud solution to the business community. Graydon Detect is the first solution of its kind in the UK. It is a pivotal time in the fight against corporate fraud (estimated to have cost UK businesses £125 billion in 2017, up 43% since 2008). With fraud on the rise and methods becoming increasingly sophisticated, The platform also allows for the integration of third-party data sources, meaning users can supplement Graydon’s insights with complementary data sets from any supplier, allowing maximum flexibility while optimising fraud detection capabilities. The partnership operates on a reciprocal basis and sees TruNarrative integrating Graydon’s extensive international business database used in trade credit, supplier management and corporate risk identification, this further strengthens the TruNarrative platform and its ‘App Store’, a gateway to 40+ integrated third-party data services for the prevention of financial crime and provides insights on more than 160 countries. ///////////////// SteelEye selected for inaugural UK government FinTech programme S teelEye, the compliance technology and data analytics firm, has announced that it has been selected as one of 20 companies in Tech Nation’s first inaugural FinTech Programme, part of HM Treasury’s FinTech strategy to support the development of fast- growing tech companies. The five-month programme supports the growth of the top 20 most promising early-stage FinTech companies across a wide range of regions in the UK. Through the programme, SteelEye will gain exclusive access to some of the most successful and inspiring entrepreneurs and field experts in the FinTech space, who will be available to advise on many aspects of managing a high-growth business, including scaling challenges, partnerships and international expansion. The scheme will culminate with a networking trip to the US to meet potential North American-based investors, clients and partners. With over 100 applications, selection was a highly competitive process. SteelEye was chosen as part of the Tech Nation cohort due to its dedication to innovation in the financial sector and demonstration of the true value of FinTech in improving the operations of financial services. The 20 firms selected to join the first cohort operate across a wide range of areas, including payments, financial inclusion, regtech, AI, SME financing, open banking and cryptocurrencies. Matt Smith, CEO of SteelEye, said: “We are delighted to have been selected by Tech Nation as part of its exclusive FinTech Programme – its very existence demonstrates the transformative impact that UK FinTech firms are having on the international financial services sector and our inclusion is testament to the important work that SteelEye is doing.” INTELLIGENTCIO 7