NEW YORK and LONDON, Nov. 2,
2021 /PRNewswire/ -- Sigma Ratings ("Sigma"), a next
generation global risk intelligence data and technology platform,
announced today that Fitch Ratings has chosen the firm for its
proprietary ongoing risk monitoring capabilities to help further
explore governance and financial crime risks in its analysis of
banks.
Sigma's monitoring technology leverages proprietary machine
learning models to detect relevant risk-related events in news
media, commonly screened data sets such as sanctions and regulatory
filings and uncommonly screened data sets such as bills of lading
and corporate registries. The risk-related events that Sigma
detects are based on recommendations made by international
governing bodies such as the Financial Action Task Force (FATF) and
the Wolfsberg Group, as well as guidance from regulators at the
national-level. Sigma's monitoring solutions now enable Fitch
to create a 'risk monitoring network' in a unified, user-friendly,
and dynamically updated view, which departs from traditional,
narrowly focused monitoring platforms that consider static pieces
of the risk spectrum.
James Longsdon, Fitch's Global
Head of Bank Ratings, said: "Financial crime and mis-governance
can be material risks for banks. We believe Sigma's data will be
useful to our analysts in exploring and analyzing these risks in
our global portfolio of rated banks."
Stuart Jones, Jr., Chief
Executive Officer of Sigma added: "We are delighted
to deepen our partnership with Fitch. We've designed and
implemented a more complete way for firms to monitor their
counterparties for changes in risk, including several risk
attributes that are proprietary to Sigma and related to recent
governance failures in the financial sector. We believe our
work with Fitch will help it detect and consider some of these
risks earlier in the process across their bank portfolio."
Prior research on proactive approaches to detecting
risk-relevant governance issues published jointly by Fitch and
Sigma can be found at sigmaratings.com.
About Sigma
Sigma is the leading AI-driven risk intelligence platform used
by global organizations to fight financial crime and make more
informed, automated counterparty risk decisions. Sigma uses
point-in-time risk analysis and ongoing monitoring technology, to
actively screen thousands of global data sources and return a
unified stream of compliance intelligence on companies and
people. Sigma is backed by a global network of investors
including the Fitch Group, FinTech Collective, Contour Ventures and
Barclays Bank.
For further information about Sigma, please visit
www.sigmaratings.com and connect with us on LinkedIn and Twitter
@sigmaratings.
About Fitch Ratings
Fitch Group is a global leader in financial information services
with operations in more than 30 countries. Fitch Group is comprised
of: Fitch Ratings, a global leader in credit ratings and research;
Fitch Solutions, a leading provider of credit market data,
analytical tools and risk services; and Fitch Learning, a
preeminent training and professional development firm. With dual
headquarters in London and
New York, Fitch Group is owned by
Hearst.
For further information about Fitch, please visit
www.fitchratings.com
PRESS: Shannon Tremaine,
212-575-0233, 322773@email4pr.com
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SOURCE Sigma Ratings, Inc.