Global RADAR: Managing Business Critical Documents

The current risk and compliance issues in the financial services sector revolve around client data and how information can be stored, accessed, analyzed, and enhanced so that organizations comply with regulatory mandates. Many financial institutions still depend on obsolete applications to manage account holder information and these antiquated systems are simply not capable of supporting the needs of a robust compliance program. This in turn is increasing the risk for regulatory penalties, which then requires adding resources to address identified failures. To avert these pitfalls, organizations need proven systems to assist them in identifying unusual activity and this can only be done with a solution that captures a thorough understanding of client details, including the identification of beneficial owners and their associated transactions. “The Global RADAR application was created to provide organizations with a clear path to compliance success by managing the client onboarding and ongoing management of customer information, replacing outdated applications and paper based processes,” says Dominic Suszek, President and CEO of Global RADAR.

The London based firm, Global RADAR, was created to help financial organizations comply and manage regulatory requirements while providing operational improvements, replacing outdated legacy systems. Since inception, Global RADAR has evolved with the changing and expanding climate in the realm of anti-money laundering and counter terrorism financing. Today, the firm is known for its deep acumen and understanding to solve challenges faced by leading financial institutions including banks and broker dealers. Global RADAR provides a one-stop solution to manage compliance efforts from customer due diligence and document management to transaction surveillance in a single application.

“As a leader in the financial market, our goal has been driven by the four pillars of an effective compliance program—Customer Due Diligence, Document Management, Watch List Screening and Transaction Surveillance” notes Suszek. Global RADAR started with building its primary module—the Customer Due Diligence Module. “This module has evolved to include the Document Management, the second key pillar in an effective compliance program” explains Suszek.