New Product Suite Reinvents How Compliance Work Can Be Done, Enables Better-Informed, More Strategic Decisions

announces brand evolution to reflect collaborative nature of product suite

SAN FRANCISCO, March 08, 2022–(BUSINESS WIRE)–Hummingbird RegTech, a compliance CRM platform, today announced the launch of the Investigation Canvas for compliance professionals. The launch of the Investigation Canvas follows a recent $30 million in Series B fundraising, and partnership with Chainalysis. The Investigation Canvas, a year in the making, is a completely redesigned workspace that addresses observed issues faced by compliance teams, including the need for greater cross-team collaboration. It improves the usefulness of the data presented and presents a more natural and transparent way to ingest and analyze complex financial crime investigations.

Businesses will now have the ability to tap into multiple external data sources to give users a more holistic picture of crime and fraud. These external data sources can range from public and criminal records to datasets and dark web research. The product refresh will allow analysts and investigators to make informed strategic decisions on the best approach for each case.

“The Investigation Canvas and the relaunch of the brand is the culmination of years of learning,” said Joe Robinson, CEO of Hummingbird. “Through our discussions, we realized the need for a massive reduction in the amount of paperwork and processes required to arrive at complex cybercrime cases. Understanding this problem, the team began to explore how to increase reporting efficiency and how to address market gaps that could begin to be filled with easily digestible, robust and collaborative data. By working closely with expert investigators, we were able to design organized tools to stimulate an investigative mindset. We believe that the Investigation Canvas will usher us into the next era of the financial industry rooted in innovation. “

Since Hummingbird’s initial launch in 2017, the world of finance has become infinitely more complex, and there’s been a renewed focus on how money moves – and what money means. After working with big startups and public companies such as Brex, Stripe, and Etsy, Hummingbird has learned a lot about what companies are looking for when it comes to case management and SAR reporting. The Investigations Platform is the culmination of that journey, marking a new way of investigating financial crime – one that recognizes the need for richer context and increased collaboration.

“My team of BSA experts is tracking a fluctuating number of reported transactions per month, around 3,000 to 4,000, on everything from ACH payments and loans to debit and credit card transactions,” said Andrew Stines. , Chief Risk Officer of Coastal Financial. “I’m the one who really owns the risk, and Hummingbird is more forward thinking and more in tune with digital and fintech services than traditional players in the space.”

In addition to the launch of Investigation Canvas, Hummingbird is updating its brand to reflect the collaborative nature of the new product suite. It will highlight the core of Hummingbird’s vision with a lightweight and nimble design, reflecting Hummingbird’s mission to drive the entire industry forward.

“The relaunch represents a progressive step towards the regulation of finance. Today, the complexity and fragmented nature of finance makes it almost ungovernable, but with the new platform, there will be more opportunities for collaboration between regulatory enforcement and what the industry is doing,” said Matt Van Buskirk, co-founder of Hummingbird. “When it comes to developing our product, our philosophy at Hummingbird has always been simple: listen carefully, think seriously, and create tools for the people who use them. Our commitment to creating tools that enhance and enhance the experience and the quality of work for compliance professionals has never faltered and our latest innovation, the Investigation Canvas, is proof of that.”

For more information, visit https://hummingbird.co.

About the hummingbird

Hummingbird is designed to improve anti-money laundering and anti-terrorist financing investigations. It reduces cumbersome paperwork, provides insightful analytics, and enables collaboration for compliance professionals and law enforcement officers. We are on a mission to turn the tide against the criminals who pollute our financial system. Modern criminals are sophisticated, tech-savvy, and nimble. The tools used to fight financial crimes should be too. To learn more, please visit colibri.co or follow on Twitter @HummingbirdEnd and LinkedIn.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20220308005111/en/

contacts

Media Contact:
Aaron Berger
917.355.8959
[email protected]

Previous

A gifted artist turned a muscle car into a canvas

Next

ONGC receives world's largest oil rig from Megha

Check Also