2021 – The Year Artesian : DueDil came together to solve FSIs biggest and most complex challenges

There have been several milestone moments in the evolution of Artesian and DueDil; moments when we believe we opened the door to a new era of opportunity. And after a decade of competitively setting the pace of innovation in the FinTech/RegTech market, in September 2021 we announced the biggest shared milestone of them all – the merger of our two companies!

Why did we merge?

What commercial customers expect from banks, insurance, and financial service institutions (FSIs) is changing fast. It is clearer than ever that the frontrunners are those organisations who continue to accelerate their digital capabilities, beyond simply automating routine tasks, and take technology enablement to the next level – getting closer to customers, acting in the most agile way possible to understand their changing needs and expectations, responding with ingenuity to their challenges as well as the wider challenges of environmental, sustainability and governance (ESG) responsibilities. All of course at the same time as containing costs, managing regulation and compliance, attracting and retaining talent, and driving productivity.

Many complex challenges to overcome! But that’s exactly why we merged, to help our customers do better business, faster, by using market-leading data and insights, combined with flexible solutions to automate B2B customer engagement, onboarding, and in-life due diligence monitoring.

Combining the best of both platforms – DueDil’s Business Information Graph (B.I.G.)™ and Premium APIs, and Artesian’s powerful web application and advanced rules engine – delivers an easy to deploy solution that helps our users:

  • Find the *right* customers – Pinpoint the customers you want based on risk profile and opportunity, and then use insights to get them talking about the things which are important to them
  • Onboard them *faster* – Frictionless straight-through onboarding with robust KYC/KYB compliance and audit
  • Keep them for *life* – Real-time insights and continuous in-life monitoring to identify risks and opportunities and assist with customer remediation

As a commentator from PWC recently commented: “Banks (as FSIs) are moving forward – improving revenues, accelerating digitisation and generating more positive public perceptions. The return on investment of transformation is beginning to show. A continued focus on customer outcomes and key sources of differentiation will help target investment more effectively and drive long-term value creation.”

We couldn’t agree more. So how did we help banks, insurance providers, and FSIs differentiate their service in 2021?

Connecting the dots

We kicked off 2021 with a bang when Tim Peake helped us launch Connect™, a revolutionary way to harness the collective expertise which exists within frontline financial service teams. Connect combines everything a bank, financial service provider, or insurance underwriter knows about its customers, business, and market, and leverages an advanced rules-engine that ingests millions of structured and unstructured data points to layer on top of that know-how, quickly delivering the impactful insights and risk intelligence needed for next-generation prospecting, customer monitoring and engagement, advanced onboarding.

Our investment in FSI innovation was recognised in April when we were shortlisted as a finalist for Technology Partner of the Year at the 2021 British Bank Awards. DueDil was also shortlisted as a finalist for RegTech Partner of the Year – proof of concept of what we can achieve together right there!

Data in abundance

We certainly hit the ground running when it comes to tackling challenges. But in the run-up to the merger Artesian also announced several new data extensions, including the ability to view CCJs and Legal Notices against any UK company, spot adverse directorships, and a Republic of Ireland Data Pack in addition to our existing UK, US, and Canadian company data sets.

We also announced new strategic data partnerships with Experian, D&B, Refinitiv, Lexis Nexus and Graydons. Talking about partnerships….

Collaboration makes us all better

In 2021 we have joined forces with:

  • Slalom – a modern strategy, technology, and business transformation consulting firm, to leverage its Data and Analytics, CRM, Product Engineering and UX capabilities coupled with Strategy and Advisory practices to enable new digital capabilities and improve end to end experiences
  • TechLabs London – an award-winning Microsoft Tier 1 Direct Cloud Solutions Provider, to deliver seamless integrations between Artesian : DueDil and Microsoft Dynamics 365

These are two key collaborations that will help us tackle a glaring gap in the market, with less than one-third of FSI organisations still reporting that due diligence monitoring is fully integrated into their CRM system.

Other important ways we helped FSIs differentiate

The nuts and bolts of tackling challenges if you like, our R&D teams worked tirelessly this year bringing our users:

  • Engagement Signals – a fully-customisable way of identifying critical changes in a target company using bespoke rules
  • Topic Filters – we expanded our taxonomy of 2,250+ topic filters to ensure users cut through the noise with automated, highly-accurate focussed insights on the companies that matter most to them
  • Ultimate Beneficial Owner (UBP) API endpoint – to improve onboarding speed and customer experience, whilst vitally mitigating regulatory, financial, and reputational risk

Our training team set a new benchmark too, with the news that our courses received CPD accreditation something no other competitive technology provider can currently deliver to its users.

It was a big year but optimism for 2022 is even bigger

The challenge for 2022 is helping banks, insurance providers and FSIs get the biggest bang for their buck when it comes to technology-driven value creation. Intelligence and agility will be key in helping organisations keep pace with changing customer expectations, stay relevant against a tough regulatory and compliance landscape, and tackle their biggest front, middle and back-office challenges.

Our new company will be able to make strategic investments for sustainable and profitable growth, remaining agile to new opportunities whilst keeping focussed on leveraging our newly combined strength, to drive greater value for our customers. I speak for every member of the team in saying we are excited to embark on this new chapter together.