A year after forming inside AlixPartners with the mission to target cross-industry challenges in financial services, Global Screening Services (GSS) has become its own standalone organization.
The GSS platform uses AI and machine learning technology for transaction and information processing, and its initial focus is on sanctions compliance. However, plans are in the works for a full suite of offerings in financial services.
“Financial institutions the world over are facing constantly increasing complexity as they have to manage the threats of ever more sophisticated criminality, the fallout from geo-political events and the risks that related non-compliance or additional processing time bring. Failure to manage these is severely detrimental to an organization’s reputation, can significantly dent its revenues and undoubtedly impacts upon the quality of its customer relationships,” said Tom Scampion, the newly appointed CEO of GSS and formerly of AlixPartners.