Neotas

About Neotas

Neotas are specialists in customer due diligence, working to reduce the financial crime and reputational risks which face all businesses. From basic internet, database and social media checks to deep forensic analysis, we provide research on individuals and companies which identify risks before they cause damage to our clients.

Unlike many services, as well as using traditional databases, we specialise in Open-Source Intelligence (OSINT). This allows us to dig-deeper into an ever-changing, openly accessible database to find the risks that are often missed in an average report.

We are certified to international privacy (ISO27701) and data security standards (ISO27001), meaning our products enable businesses to meet regulatory requirements while also reducing customer onboarding time and compliance costs.

Neotas now work with over 100 clients including PwC and KPMG, as well as asset and wealth managers, with the aim to streamline onboarding processes and deliver accessible products which produce a more comprehensive look at customer risk.

Market Products and Solutions

Our products provide solutions designed to fit in with client needs. For in-depth, externally sourced analysis, we offer a managed service which utilises our own experienced analysts to conduct EDD checks bespoke to client requirements. Alternatively, clients can choose to integrate our platform into their own compliance operations.

Launching in Spring 2024 is the latest iteration of our automated platform, built in-house, our solution is designed to take the frustration out of customer onboarding and due diligence, letting technology do the work. Using AI to summarise complex records, LLMs to identify and flag risks and a user-friendly interface for case management, the
Neotas platform can generates significant time savings and improved outputs.

All our products ensure that reputational risks, including any adverse media, political exposure, undisclosed directorships, bankruptcy, or criminal behaviour are identified and flagged clearly. With native language research available in over 20 languages, businesses of all sizes can be empowered with the intelligence needed to conduct business safely and efficiently.

Relevance to the Wealth Sector

At Neotas, we know that for the wealth sector, this compliance is not only for regulation, but to protect wealth and investment managers from the risk of fraud, money laundering and adverse publicity. With new FCA directives pushing for tighter regulation on firms, due diligence has become more important than ever.

Neotas EDD is consistent, fully auditable and includes counterparty checks, enabling firms to take a Risk Based Approach by incorporating crucial non-financial risk data into existing processes. We conduct Sources of Wealth and Funds checks on higher risk net worth individuals, as well as identifying beneficial owners of corporate entities and identify key beneficiaries and trustees of Trusts. Additionally, our research is not limited by foreign jurisdictions or language barriers, meaning that business can flow regardless of borders while ensuring consistently high security standards.

Crucially, our products ensure that wealth managers, no matter how small, can have access to a user-friendly tech solution capable of conducting proper due diligence whilst minimizing disruption to themselves and their customers.