Global RADAR: Mitigating Financial Terrorism with Regulatory Risk Management

Dominic Suszek, Founder & CEO, Global RADARDominic Suszek, Founder & CEO
Of late, the business world has been confronted with remarkable changes and difficulties that have compelled the need for many compliance regulations. In the banking sector, these regulations revolve around storage, access, and analysis of client data in adherence with the regulatory requirements. The improvement of the information quality for existing client profiles while having effective systems in place to capture necessary information for new clients is ingrained in the regulatory requirements. Compliance issues have penetrated every facet of an organization from the front line personnel, client-facing associates, compliance officers, and management all the way up to executive officers and board members. The new scenario that sprouts from the trending regulatory requirements: monitoring activity to ensure transactions are in line with new and existing client profiles. Ensuring all client profiles are comprehensive and the processes are in place to monitor documents and transactions, Global RADAR is addressing these elementary requirements by providing a customer due diligence solution. Effectively, the solution addresses the re-profile requirements for existing clients while serving as a tool to simplify the data capture process for new clients.

“Customer Due Diligence is the cornerstone of Global RADAR. Combined with automated risk rating, watch list screening, and activity surveillance, the company provides a one stop solution for managing customer due diligence and activity surveillance in a single application,” says Dominic Suszek, Founder, and CEO of Global RADAR. The company’s powerful and intuitive solutions not only mitigate risk, but also enhance operations while addressing regulatory requirements. Global RADAR’s automated risk rating process quickly identifies high, moderate, or low risk clients, allowing banking

organizations to prioritize their review processes, thereby increasing staff productivity.

The company aims at improving the banking compliance regulations in every corner of the world, diligently aiding the financial service providers with their solutions. “Our Client Onboarding/Customer Due Diligence has evolved and it includes Document Management, Watch List Screening, and Transaction Surveillance,” notes Suszek. Global RADAR has spent the last 10 years perfecting a solution to meet the evolving requirements of organizations and their regulators globally. When dealing with clients around the world, while the regulatory landscape is relatively constant, the oversight authorities and their enforcement differ significantly. This is one of the arenas, in which the company has maintained the ability to be nimble and provide self-configurable customized options on demand. “We give clients the benefit of cost-effective automated workflow during the new client onboarding process. With our system, information obtained can be utilized for cross selling products and services in real time. The mechanism provides a completely self-configurable interface, placing the power in the consumers’ hands,” asserts Suszek.

Customer Due Diligence is the cornerstone of Global RADAR

The company has an illustrious client base in the markets of Malaysia, U.S., Canada, the Caribbean, Central and South America as well as Europe. “Many of our clients have implemented Global RADAR to prepare for an examination or as a result of consent order requirements placed by their regulators,” says Suszek. The performance of Global RADAR was well received by the institution and their regulator as a remedy to deficiencies that had been identified through an examination process.

Global RADAR, born from the necessity to create a solution that would address regulatory requirements while providing operational efficiencies, is focused on ensuring refined compliance regulation for the business operational needs. Keeping in line with the changing enforcement legislations, the company is aiming to evolve to provide a solution, which can be utilized in sectors such as crypto currencies.