London, 27th July 2016: Contego, the multi-source fraud detection platform, today announced that Bricksave, the global real estate crowdfunding platform that makes low-risk investment in exclusive Triple A properties around the world accessible and hassle-free, has selected Contego’s platform to carry out international checks on individuals to ensure compliance with AML and KYC requirements.
The property sector is an increasingly regulated market and complying with AML and KYC legislation is a top priority. Regulators are conducting proactive investigations and firms like Bricksave need to ensure they are fully compliant and exhibiting best practice. Firms that cannot prove adherence to the rigorous regulation will be levied with large fines, which, in turn can have a real and negative impact on their market reputation and ability to compete.
Bricksave selected Contego’s fraud detection platform, to help solve its global, checking requirements, which include, Politically Exposed Persons (PEP) and sanctions checks in addition to AML and KYC. Contego has deployed a bespoke risk scoring capability, flexible enough to analyse data from different geographies, combining results from multiple sources accurately, all delivered in real-time via a single API. By working with a wide range of commercial data suppliers and law enforcement agencies, Contego’s breadth of data is greater than that offered by any single supplier.
With Contego’s platform, Bricksave is able to perform complex, multi-source checks on individuals at high speed, to allow them to rapidly onboard new customers and improve the overall engagement experience.
Tom de Lucy, CEO, Bricksave said: “After looking into various fraud detection providers, we have chosen Contego because the platform is the only one that provides access to all the data sources we need in order to meet our regulatory requirements. We have a global customer base and need a platform that can handle international checks quickly and securely, to enable us to make timely and informed decisions about our customers and onboard them quickly. Our crowdfunding platform gives our customers the opportunity to invest in Triple A properties located in the most exclusive, most influential and desirable locations in the world and we don’t want them to miss investment opportunities because of inefficient onboarding processes.”
Adrian Black, CEO, Contego added: “We are very excited to welcome Bricksave to our expanding client base of property and FinTech customers. Our aim is to simplify and improve Bricksave’s customer onboarding process by taking the pain out of the regulatory background checks and making them as frictionless as possible. We look forward to working with Bricksave to ensure they fulfil all their regulatory obligations with confidence in our rigorous and comprehensive approach.”
Sarah Durrani, Streets Consulting
Tel: 020 7959 2235
Launched in 2011, Contego is the only comprehensive risk scoring platform that can handle complex multi-source fraud detection and compliance checks at high speed, delivered in a single view, through one easily-integrated API.
For the past five years, Contego’s team of fraud and technology experts has helped the banking, FinTech and property sectors to reduce the risk of fraud and make compliance checks and processes, such as AML (Anti Money Laundering) and KYC (Know Your Customer), as frictionless as possible.
Contego delivers a comprehensive and holistic view of both people and companies, so that banks, FinTech and property firms can instantly make crucial, data-driven decisions about how and with whom they do business.
To find out more, please go to: www.contego.com or follow us on Twitter @Contego.
About Adrian Black, Founder & Chief Executive Officer, Contego
As Founder and Chief Executive Officer, Adrian is the driving force behind Contego, working hard to reduce the risk of fraud and compliance costs in the banking, FinTech and property sectors. Contego provides a comprehensive risk scoring platform that can handle complex multi-source fraud detection and compliance checks at high speed, and deliver a single view via an easily integrated API.
Adrian has built a strong leadership team of business development, operational and technology experts, and has secured partnerships with a number of well known, household brands including: Foxtons, LendInvest and Westfield Shopping Centre.
Bricksave is the global real-estate platform that makes low-risk investment in exclusive properties around the world accessible and hassle-free.
Through a hand-picked selection of unique properties in top locations around the world, such as Miami, London, Paris and more, Bricksave allows first-time investors to get access to investment deals from as little as $2,500 as well as experienced investors to easily diversify their portfolio and protect their investment.
Investors can invest through the Bricksave platform in minutes and benefit from a share of rent as well as a share of capital gains resulting from the sale of the property.
Bricksave takes care of the on-going management of the property so that investors don’t have anything to worry about other than enjoying competitive and secure returns.
About Tom de Lucy, Chief Executive Officer, Bricksave
Having helped numerous tech startups achieve early stage growth, as well as founding his own successful property company, Tom was appointed CEO of Bricksave to professionalise the company and develop the operational, marketing and technology teams required for Bricksave to become one of the leading international players in the Real Estate Crowdfunding market.