identitii teams with RPA firm Blue Prism
Information sharing firm identitii has joined forces with robotic process automation (RPA) company Blue Prism. Together, the two will design technology to help FIs digitise and automate corporate payment and trade transaction processes – including an audit trail – in an effort to better detect fraud, reports David Penn at Finovate.
identitii will integrate its verification engine, Integrity, and its permission data sharing capabilities into Blue Prism’s Digital Workforce, which is used by businesses to automate work processes. This will help businesses better organise and verify the data required in typically manual, time-consuming processes like cross-border corporate transactions, as well as provide for needed anti-money laundering (AML) review and financial crimes sanctions checking.
Blue Prism’s Digital Workforce enables businesses to automate tasks such as collection and management of documentation across multiple legacy systems. Businesses using the platform can leverage artificial intelligence (AI), machine learning, intelligent automation, and sentiment analysis to improve processes, share information more securely, and provide clearer, more detailed reporting for compliance purposes.
Founded in 2014, identitii also offers Serra – a permissioned, append-only, federated database designed for the financial industry. Using distributed ledger technology (DLT) and relational and graph databases, identitii Serra enables FIs to exchange information in a way that is both secure and auditable.
identitii raised an undisclosed amount from the Lind Partners in January 2017. The company supports offices in Sydney, Australia, and in Singapore.