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Source: ComplyAdvantage
ComplyAdvantage, a global data technology company transforming financial crime detection, today announced that Vatsa Narasimha has been named as the company’s new Chief Executive Officer (CEO), and Charles Delingpole, the company’s founder and former CEO, will transition to become Executive Chairman.
Both will assume their new positions effective immediately.
Charles Delingpole has led ComplyAdvantage since its formation in 2014, taking the company from its inception to operating with 450+ employees and more than 1,000 clients worldwide. Charles will remain a key part of the team in his new position.
An inspiring leader and formidable operating executive, Vatsa Narasimha joined ComplyAdvantage more than two years ago from Oanda Corporation, a global leader in online multi-asset trading services and currency data and analytics, where he was CEO
Prior to Oanda, Narasimha spent eight years at The Boston Consulting Group, working with leading financial institutions on a variety of growth strategy, corporate development and operational issues.
Since arriving at ComplyAdvantage, Narasimha has held the position of Chief Operating Officer (COO), where his leadership has helped the company experience record growth with ARR (annual recurring revenue) growing by nearly 80% last year. This has been fueled by an expanded portfolio of traditional banking and insurance customers, FinTechs and crypto customers as well as strategic partnerships with world-class BaaS, IDV, and blockchain data providers.
Narasimha has also helped to expand the company’s funding to over $100 million, adding Ontario Teachers Pension Plan and Goldman Sachs to ComplyAdvantage’s top-tier suite of investors that include Index Ventures and Balderton Capital.
In addition to this progress, usage across the company’s AML (anti-money laundering) solution sets has hit record levels with search volumes doubling quarter over quarter for the company’s Customer Screening and Monitoring solution.
The company’s platform has facilitated more than 1 billion searches across 150 million entities that are monitored daily while Transaction Risk Management volumes have increased by four times.
Narasimha’s appointment as CEO comes at an exciting time as the company continues to scale globally, becoming a dominant force in fighting money laundering and related financial crimes using massive amounts of data and advanced machine learning to provide customers with financial risk insights.
“Vatsa is an exceptional operating executive who has worked hard and delivered incredible results, earning him the right to become our next CEO,” said Charles Delingpole, founder, and Executive Chairman.
“ComplyAdvantage continues to lead the industry in using advanced AI and data to combat financial crime. Vatsa has the right strategic skill sets and experience needed for this next chapter of growth. I want to whole-heartedly congratulate Vatsa, and I look forward to this next chapter in the company’s exciting trajectory.”
“Since my first conversation with Charlie, it has been obvious to me that ComplyAdvantage was built to solve the large and pressing problem that is Financial Crime detection,” said Vatsa Narasimha, CEO of ComplyAdvantage.
”The company’s track record reflects the significant progress we are making against our mission of bringing next gen tools to help our clients get a holistic understanding of counter-party risk. I am excited to step into this role while continuing to work closely with Charlie as we make a significant impact for the customers we serve around the world.”
“Financial crime detection is in the global spotlight as a result of rising regulation, sanctions and evasion techniques,” Jan Hammer, Partner at Index Ventures.
“This trend has propelled the technology driven product of ComplyAdvantage to a leadership position in the sector. To position the company for this new phase of growth, Charlie will double down on product and continue enhancing the company’s vision in his new role of Chairman. Vatsa will assume to role of CEO. I cannot think of better leaders to meet the opportunity that lies ahead.”
Already the preferred choice of some of the world’s largest banks, enterprises, and high-growth fintechs, ComplyAdvantage uses machine learning to help regulated organizations manage their risk obligations and prevent financial crime.
ComplyAdvantage is also a leader in providing anti-money laundering insights that include the company’s much-lauded State of Financial Crime 2022 Report, Evolving Use and, Sanctions, and most recently, the Anti-Money Laundering Guide for Growing Crypto Firms.
Financial Services
