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Bahamian Tech-Based Kyc Provider Gaining Recognition

A FINANCIAL technology start-up created by Bahamian born E. Jay Saunders has been nominated for 4 A-Team 2017 RegTech (Regulatory Technology) awards for its enhanced due diligence cognitive search and crime prevention tool SafetyNet.ai (www.safetynet.ai).

The categories in which Domus Semo Sancus (DSS) was nominated are:

  • Most innovative use of KYC software for client on-boarding

  • Most innovative use of AI in regulatory compliance solution

  • Most innovative cloud-based regulatory solution

  • Most Innovative compliance as a service solution

Mr Saunders, chairman and chief executive for Domus Semo Sancus (DSS), will demonstrate SafetyNet.ai at the summit during the RegTech Showcase event. He will also form part of the panel discussing the topic, 'Applying innovative technologies to manage risk and improve onboarding, KYC and AML'.

Other nominees for the 2017 RegTech Awards include Accenture, BearingPoint, Bloomberg, Deloitte, IBM, KPMG, LexisNexis, Oracle, PwC and Thomson Reuters.

"The industry that our clients operate in is ever changing, and the risks for them are high," said Mr Saunders. "Our clients put a lot of faith and trust in us, and that's why we spend a lot of time and effort to ensure that SafetyNet can help them mitigate risk at a local and global level. To have SafetyNet recognized by the A-Team is a great honour."

The RegTech Awards have been designed to acknowledge those companies who are finding solutions to help with regulatory challenges. DSS is the only company from the Caribbean that was nominated, and one of only a few companies with multiple nominations.

The awards ceremony will take place in New York on November 16, 2017, during the RegTech Summit for Capital Markets.

Meanwhile, Mr Saunders and DSS were part of Startup City at the prestigious Money20/20 conference on October 22-25, 2017, in Las Vegas.

Money20/20 is the world's largest conference on ideas, connections and deals within the payments and financial services space. It brings together the major players who are revolutionising the future of money. The 2017 event had 11,000 attendees, including more than 1,700 chief executives and presidents from 4,500 companies and 85 countries.

Representing DSS at Money20/20 were Mr Saunders and head of technical development, Rohit Trivedi.

"We were very thankful to the organisers of Money20/20 for inviting DSS to be part of Startup City. It gave us a tremendous opportunity to showcase SafetyNet, our enhanced due diligence cognitive search tool, to the main players in the global payments industry," said Mr Saunders.

Startup City, where DSS was resident, was sponsored by Mastercard, and described by Money20/20 as "...home to 2017's most exciting start-ups in the payments and financial services ecosystem."

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