Press release

RDC and Monzo Expand Anti-money Laundering Partnership for Bank’s US Launch

Sponsored by Businesswire

RDC (Regulatory DataCorp) has renewed its agreement with Monzo, the UK’s fastest-growing bank, in a deal that will see the company’s next-generation customer screening technology extended to cover the bank’s US launch. The arrangement will build on the success of the past two years in the UK where RDC’s data and technology is used to screen for financial crime risk as some 55,000 new customers sign up for a Monzo account every week.

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The agreement in the US will maintain the highest level of risk coverage currently implemented across Monzo’s UK business operations, screening against global politically exposed persons, sanctions lists and adverse media. Monzo will also be able to configure screening thresholds in the US according to their requirements in the region with the use of RDC’s precise risk filtering technology, which makes it easy to focus results based on the type and level of risk.

RDC has a rich history working with fintech companies and understands the unique challenges and requirements they face, often supporting rapid expansion and the need to onboard new customers quickly and seamlessly. RDC’s real-time screening capabilities and false positive reduction will continue to be a critical factor in Monzo’s US operations as the bank looks to maintain sign up times of less than 10 minutes.

“Rapid growth and international expansion have played an important part in our decision to renew the agreement with RDC as our global compliance screening provider,” said Natasha Vernier, head of financial crime at Monzo Bank. “We need a solution that not only provides the most comprehensive and efficient risk screening coverage but one that easily scales in line with our growth and expansion plans – and we are confident that by working with RDC our anti-financial crime processes will be future-proofed for years to come.”

“We are delighted to be a part of Monzo’s exciting growth plans working alongside their compliance team to deliver next-generation screening data and technology that will continue to effectively protect against financial crime risk,” said Tom Walsh, RDC CEO. “We know that speed, efficiency and scalability have been crucial to Monzo’s success over the past two years and we stand ready to continue delivering solutions that will meet and exceed their requirements as the bank goes from strength to strength.”

The next phase of expansion for RDC and Monzo will arrive as the fintech leader looks to implement the same screening capabilities across its business account customers. RDC’s configurable risk filters will again be a pivotal part in rolling out an effective risk strategy for their book of business customers and in managing reputational risk at a time when financial institutions are placing more scrutiny on potential ramifications.

About RDC

RDC, the Smarter ScreeningTM company, prevents criminal infiltration of the world’s financial systems by delivering intelligent, automated customer screening and decision-ready intelligence. RDC serves more than 1,000 global banks and financial institutions and 35,000 compliance professionals across more than 100 countries in strengthening their KYC/AML, fraud and politically exposed persons (PEPs) protection, ensuring sanctions and watchlist compliance, protecting their brand and reputation and managing supply chain and vendor risks. Founded by 20 of the world’s leading financial institutions in 2002, today RDC is a Vista Equity Partners portfolio company. For more information email info@rdc.dom or visit