Press Release

Dow Jones Risk & Compliance and eSpear join forces to create a true enterprise class compliance screening solution

New York, NY, May 31, 2018 – Dow Jones Risk & Compliance jointly announced with eSpear today their partnership incorporating the risk and compliance related content of Dow Jones into eSpear’s third party risk and compliance screening system.   The joint solution will assist both financial institutions and corporations in complying with the myriad of global and local laws, regulations and rules regarding sanctions, anti-terrorism, anti-money laundering, know-your-customer, anti-corruption, bank secrecy and trade compliance across their business spectrum.

Dow Jones is an industry leader in risk and compliance content with specific data sets developed to provide any business with the compliance and reputational risk coverage they require.  Their highly structured data sets include global sanctions and watch lists, politically exposed persons and adverse news, as well as lists for state-owned-enterprises, beneficial owners of sanctioned entities and entities owned by sanctioned individuals, dual use goods, licensed marijuana dealers, human traffickers, and other proprietary content.

“The joint solution is specifically designed to take full advantage of the structure, data points and other unique attributes and benefits of Dow Jones’ content” said Jonathan Arnold, the Chief Operating Officer of eSpear.  This was achieved by mapping every data point within the individual lists of each Dow Jones data set into eSpear’s industry leading 30,000+ rule screening engine and user interface.  The joint solution can be plugged into the core banking system, customer relation management system, vending onboarding platform, or any other system within the individual divisions and departments of a financial institution or corporation and then tuned to that division’s and/or department’s specific compliance requirements.

“The complete mapping of each Dow Jones data set into eSpear’s screening engine and user interface creates a single compliance solution that can be used for wire transfers and online transactions, customer/vendor onboarding and trade compliance in every jurisdiction within the same financial institution or organization” said Alex Tame, Global Head of Partnerships and Content Integration for Dow Jones.  “It’s a powerful tool” added Mark Skulski, Director, Partners and Content Integration for Dow Jones.  “We are very excited by the joint solution’s ability to match names within the Dow Jones data sets with reliable and consistent precision and its showcasing of the content Dow Jones has on those names.”

The joint solution is engineered by design to be completely customizable, intuitive to use and to be an effective tool with the lowest false positive rates and fastest processing times in the industry.   “This provides users of the joint solution with the lowest total cost of ownership” said James T. Hughes Jr., Chief Executive Officer of eSpear.  “Not only is the joint solution priced competitively, but compliance officers will save a significant amount of time with the screening and remediation process and prevent fines and negative publicity by identifying bad actors that no other compliance system identifies.”

The joint solution is available in 72 languages, including Arabic, Chinese, English, Hindi, Japanese, Russian and Spanish as both a SaaS service and as an installed license.  It incorporates an audit log, customizable reports, continuous monitoring/re-screening, new data alerts, suspicious activity reporting (SARs), currency transaction reporting (CTRs), FinCEN 311 screening, and work flow management.  It uses state-of-the art encryption and data security technology and is fully compliant with all European Union Data Privacy Directives.

The applications for the joint solution are boundless.  “One area of continued growth for us is ‘the blockchain’ where participants can interact without intermediaries” said James Greenberg, Vice Chairman of eSpear.  “With the peer to peer architecture of the blockchain, the ability to customize the Dow Jones data sets combined with the speed and versatility of eSpear’s screening engine provide a highly secure and near seamless client solution.”

“Truly any business in any industry in any jurisdiction can take advantage of the joint solution,” added Boris Tiomkin, Executive Chairman of eSpear.  “No other compliance solution can match our speed, accuracy, reliability, security or ease of use.”