CSI Partners With Kharon To Strengthen KYC And Sanctions Risk Management
PADUCAH, Ky., May 11, 2021 – Computer Services, Inc. (CSI) (OTCQX: CSVI), a provider of end-to-end fintech and regtech solutions, has partnered with Los Angeles-based Kharon, a research and data analytics company focused on security threats that affect global finance, to provide CSI customers a comprehensive set of tools to enhance their financial crime and trade control frameworks.
Kharon’s solution complements CSI’s WatchDOG® Elite platform, which integrates customer data into a single software platform, ensuring an institution’s compliance with OFAC screening requirements, USA PATRIOT Act regulations and other international watch lists. Through Kharon, CSI’s customers will have access to 50 additional datasets, with an emphasis on European Union and other international data. These datasets include thousands of entities that do not appear on sanctions lists but are majority owned by sanctioned parties, presenting a high risk to U.S. companies conducting international transactions.
“The 50% rule, in particular, continues to be a challenge for many businesses that do not have the internal resources to investigate and continuously update what can often be complex and extensive ownership chains. All Kharon’s datasets enable faster, more informed decision making, and therefore more robust compliance frameworks,” says Victoria Lumb, Head of Sales, Kharon. “We are delighted to partner with CSI. They share our ambition to empower businesses with better data and analytics while protecting them from the complications that arise from overscreening.”
CSI’s WatchDOG Elite platform is a web-based sanctions screening software that streamlines and consolidates the OFAC watch list screening process by combining an advanced search algorithm with the latest technology. The software provides real-time and retroactive screening integrated into existing payments and onboarding workflows. The platform incorporates detailed reports and audit trails, resulting in fewer false positives for a company’s staff to manage.
“Kharon provides our customers with an even greater ability to fulfill their legal obligations and strengthen their risk policies when evaluating with whom to conduct business,” said Kurt Guenther, Group President, CSI Business Solutions. “Having access to such high-quality data on a global scale helps even the largest companies leverage the kind of intelligence that can transform their compliance program and ensure their business meets regulatory expectations.”
About Computer Services, Inc.
Computer Services, Inc. (CSI) delivers innovative financial technology and regulatory compliance solutions to financial institutions and corporate customers across the nation. Through a combination of expert service, cutting-edge technology and a customer-first mentality, CSI excels at driving businesses forward in a rapidly changing industry. CSI’s expertise and commitment to authentic partnerships has resulted in the company’s inclusion in such top industry-wide rankings as the FinTech 100, American Banker’s Best Places to Work in Fintech and MSPmentor Top 501 Global Managed Service Providers List. CSI’s stock is traded on OTCQX under the symbol CSVI. For more information about CSI, visit www.csiweb.com.
Kharon is a leading provider of research and data analytics, focused on global security threats and other controversies that impact global commerce and finance. Kharon’s clients include first tier international financial institutions, global corporates, public sector entities and professional services firms. Kharon is headed by former senior officials from the U.S. Department of the Treasury, and experienced professionals in software development and data science. For more information about Kharon, visit www. Kharon.com.