Adding Human Expertise into the Data Stream for Meaningful Risk Intelligence
Friday, January 14, 2022
FiveBy Solutions announces a partnership with Sigma Ratings, offering expert risk assessment on top of Sigma Rating's Terminal offering
SEATTLE, Jan. 11, 2022 /PRNewswire/ -- The consequences of failing to follow government sanctions and commerce regulations can impact a company's reputation and bottom line. The government expects companies to know the suppliers they buy from and customers they sell to.
Every company that buys or sells internationally or sells domestically to a foreign national or foreign entity, needs to develop processes for identifying the entities involved in those transactions and ensure that they are not prohibited from commerce. Typically, companies will subscribe to a service that sifts through a world of data points and generate reports to assist with this. Having access to these reports is crucial - and having access to experts with knowledge of the rules and how to connect the dots for their business can help avoid ending up on the wrong side of government rules which can result in hefty fines and damage to business reputation.
Today FiveBy Solutions and Sigma Ratings are announcing a joint offering that brings together the power of the Sigma Ratings data platform with the expert insight of FiveBy's Risk Assessment Services to offer clients a best of breed solution for managing business risk.
Building on Sigma's derived insights, FiveBy now offers an additional three levels of expert assessment, delivering to Sigma's clients the next level in understanding compliance risks. FiveBy Risk Assessment Services are ideal for clients needing access to additional hands-on expert research whether for a one-off assessment or as part of a broader managed service.
"Companies are increasingly expected to be experts when it comes to sanctions and financial regulations, and support for deeper research is often required to understand the risk of doing business in today's market," said Alex Kochis, President and founder of FiveBy. "As a leader in the bespoke risk management solutions space, we are delighted to be able to expand our portfolio by offering on demand risk assessment services to Sigma's clients."
Stuart Jones Jr, Founder and CEO of Sigma Ratings added, "Sigma Rating's Terminal Solution delivers actionable insights for confident decision making. Now by partnering with FiveBy we can offer the best decision support the industry has to offer to our clients."
FiveBy Solutions is a specialized risk intelligence consultancy with unique expertise in risk and fraud management. Companies and organizations contact FiveBy when they see risks related to fraud, abuse or compliance that could affect their reputation, their ability to support customers, their intellectual property, or their bottom line. FiveBy provides unique insight and experience to transform these risks into opportunities. Whether you work with FiveBy on an assessment, to address a one-off incident, or to create robust processes to address future risks - we'll always be in your corner. We stay ahead of the game, so you don't have to.
Incubated at MIT in 2017, the mission of Sigma Ratings is to make the world more transparent by highlighting and standardizing metrics for good corporate behavior. Sigma's Certified Ratings leverage public and private data on companies to create a rating. These ratings are especially beneficial in highlighting institutions, with effective compliance, in jurisdictions perceived as high-risk. Sigma's use of AI and machine learning enables it to achieve its mission at global scale through the collection, organization and scoring of public data. To date, Sigma has organized over 100 billion data points on over 900 million companies and people globally to make it the world's most comprehensive risk analysis database.
For more information: www.fiveby.com/riskassessmentservices
Press Enquiries: info@fiveby.com
This press release was issued through 24-7PressRelease.com. For further information, visit http://www.24-7pressrelease.com.
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SOURCE FiveBy Solutions
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