47. Ripjar Ltd

Company: Ripjar Ltd

Founder: Jeremy Annis

Website: https://ripjar.com

 

Ripjar

 

About Ripjar Ltd

 

Ripjar is a global company that uses artificial intelligence and machine learning to redefine the battle against financial and other crimes. The company’s founders, Jeremy Annis and Tom Griffin, are experienced technologists and leaders, having previously worked in the heart of the UK national security and intelligence community. They were inspired to make a difference and put their specific skills to good use, helping banks, governments and other global organisations detect and fight crime which may otherwise go undetected.

The company has grown quickly by applying technology in new and exciting ways to help organisations who are struggling with the limitations of inefficient and outdated solutions.

A major challenge in modern economies is detecting and combatting financial crime in its many forms. Ripjar went back to the drawing board to find ways to address the challenges and help organisations meet their anti-money laundering (AML) and counter financing of terrorism (CFT) responsibilities.

Organisations must screen their customers and other counterparties to detect risk and ensure they’re not dealing with risky people and organisations. Ripjar developed new approaches with natural language processing, AI, machine learning, and a fresh approach to name matching which is now utilised by tier 1 & 2 banks and others to carry out both initial and ongoing screening of customers.

The company’s technology is used to review millions of news articles, politically exposed persons (PEPs), sanctions and other watchlist entries each day. As soon as a risk is identified, compliance officers get a balanced 360o view which enables them to make a rapid assessment. This ability to move quickly protects customers from risk and helps them avoid huge penalties as well as reputational damage.

Elsewhere, Ripjar has used its expertise to develop technology which tackles serious challenges in intelligence, law enforcement and cyber security. Through complex data fusion, Ripjar’s Labyrinth platform enables investigators to quickly assess new intelligence and threats to understand a wide range of emerging risks and enable organisations to remain vigilant and safe. Cybersecurity customers use Ripjar’s technology to understand and tackle complex attacks and compromises, while national security and policing customers respond to new bulletins and hunt threats using vast, sensitive data sets.

Ripjar continually invests in innovation, as proven by the launch of Compliance Copilot, its AI-powered assistant, in March 2024. Enhancing the AI Risk Profiles Solution, the capability will act as a virtual user to support compliance teams to better identify and manage risk across their operations. Copilot can be implemented as a first line of defence, allowing teams to screen more data without taking on extra workload. This technology leverages the best of foundation machine learning and Generative AI technologies – through Ripjar’s dedicated model, RiskGPT, specifically developed to meet the requirements of compliance professionals.

Ripjar continues to grow rapidly, with its success reflecting its dedication to its mission – to help governments and organisations automate the detection, investigation and monitoring of threats from criminal activity.

 

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