Plenitude Consulting Acquires Contineo to Address Financial Crime Capabilities!

tamir
Wed, 22 May 2024 07:20:18 +0000
Cybercrime, Cybercrime Data, Transactions, Alan Paterson, Contineo Financial Risk Solutions, Plenitude

In a strategic expansion of its financial crime compliance capabilities, Plenitude Consulting has acquired Contineo Financial Risk Solutions Ltd. Contineo, founded in 2017, is known for its specialized advisory services in financial crime compliance (FCC) technology. The company offers expertise in transaction monitoring, customer and transaction screening, model validation, and data analytics.

This acquisition supports Plenitude’s strategy to become a leading tech advisor and implementation partner for innovative AI-enabled FCC technology solutions. By incorporating machine learning, automation, and advanced data analytics, Plenitude aims to enhance its financial crime risk management services.

Alan Paterson, Founder & CEO of Plenitude, expressed his enthusiasm for the acquisition, stating, “Contineo’s reputation and deep technical advisory capability is impressive. The decision to bring the businesses together felt absolutely right from a strategic standpoint, enabling us to meet the evolving needs of our clients and accelerating the build-out of our tech advisory and data analytics practice.”

This acquisition will increase Plenitude’s workforce by approximately 20%, incorporating all of Contineo’s employees. It also expands Plenitude’s technology solutions portfolio, which includes CompassSight, RegSight, and ClientSight, with Contineo’s AI-enabled FCC technology and machine learning expertise.

Plenitude’s acquisition of Contineo signifies a significant step in enhancing its capabilities and expanding its reach in the financial crime compliance sector.