Latest investment and extended strategic partnership demonstrate Dow Jones’s commitment to the Risk & Compliance market
Dow Jones today announced it has made an equity investment in Ripjar, a global leader in data intelligence software. The two companies have worked together since 2018 to deliver a platform that enables continuous, real-time screening and monitoring to help financial institutions and large corporations protect their businesses from financial crime risk.
Dow Jones Risk & Compliance provides best-in-class data, integrated technology solutions and due diligence services for managing regulatory and reputational risk. Dow Jones and its customers benefit from Ripjar’s leading-edge technology and expertise in artificial intelligence and natural language processing to automatically identify risks from multiple data sources.
Almar Latour, CEO of Dow Jones & Co. and publisher of The Wall Street Journal, said, “Dow Jones’s mission is to provide the world’s most trusted journalism, data and analysis to help people make decisions. Our investment in Ripjar extends the reach of that mission. It’s another example of our strategic pursuit of opportunities to leverage our more than 130 years of experience delivering news and information. This heritage gives us the editorial expertise to identify credible sources to help customers in the fight against financial crime.”
This investment also reflects Dow Jones’s confidence in its Risk & Compliance business, which reached a new milestone of $225 million in revenues in fiscal year 2022.
Jeremy Annis, chief executive officer of Ripjar, added, “I’m delighted to deepen our partnership with Dow Jones and am confident that the strength of their best-in-class data combined with Ripjar’s industry-leading technology platform will allow us to better serve customers and help them detect and defend themselves from threats of criminal activity.”
Dow Jones Extends Commercial Agreement with Ripjar
Together with its equity investment in Ripjar, Dow Jones has extended its partnership agreement with the company to deliver a next-generation Software as a Service (SaaS) solution for adverse media and sanctions screenings. This enhanced product capability will provide large-scale screening and monitoring of Dow Jones’s premium content including high-quality structured risk data, and thousands of licensed news sources from Factiva, Dow Jones’s global news database.
“Expanding our partnership with Ripjar supports Dow Jones’s continued commitment to invest in innovative technology solutions that drive exceptional customer experiences,” said Joel Lange, general manager, Dow Jones Risk & Compliance. “Ripjar’s technology platform is a strong complement to our news capabilities and the additional data sets and applications we’ve developed specifically for compliance requirements and workflows. This includes anti-money laundering and counter-terrorism financing, sanctions, anti-bribery and corruption, and international trade compliance.”
Annis further explains, “The new SaaS solution is foundational to the next level of service we will deliver to the market. It allows for even faster, more efficient and high-volume screening while reducing the occurrence of false positives and duplication that can waste customer time and resources.”
It also aligns with recent guidance from the Wolfsberg Group of large financial institutions recommending the use of verifiable adverse media searches in the customer due diligence process.
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