Innovation In Compliance With Tom Fox

David McLaughlin, founder and CEO of QuantaVerse, joins Tom Fox on this week’s show to discuss his company’s new risk management tool, Country Code Derivation. He explains that this capability was actually a part of their platform for some time, but they saw the need to offer it as a separate tool. “We found that there is a really specific and unique need for understanding the country code of transacting parties,” he says. Identifying Risky Transactions Tom and David discuss how Country Code Derivation assists organizations, including financial institutions, identify potentially risky transactions. David explains that this tool is a “multimodal, layered approach of sifting through different capabilities to accurately identify where somebody's jurisdiction is.” Determining jurisdiction of a transaction is a core part of understanding risk, David points out. The advantages of using technology versus a manual process are obvious: technology is more accurate and efficient, can validate malformed data, and saves