Synalogik was presented its Queen’s Award for Innovation by HRH Prince Richard, the Duke of Gloucester, for its data aggregation platform Scout.
Held at Hub8 in Cheltenham, the presentation ceremony was for the innovation award for Synalogik’s Scout platform, and its contribution to fighting financial crime and aiding organisations with regulatory compliance across both the public and private sector.
“It is an honour to receive such a prestigious award as the Queen’s Award for Innovation,” explained Gareth Mussell, CEO at Synalogik. “I am immensely proud that our solution is being used to identify, investigate and detect criminality in a number of industries across the world.
“The award is an outstanding achievement for the team, it clearly highlights their hard work and commitment over the past three years.
“2022 has been a huge year for us, we started the year with new investment, our team has doubled in size, and we have opened a new office in Chester. Our product roadmap is extremely exciting, and we are looking forward to launching new functionality over the coming months.”
Since its inception in 2018, Scout has integrated itself throughout various verticals, such as gambling, insurance, banking, legal and public sector, with clients including Entain, Buzz Bingo, Betway, Hastings Direct, AIG Life and various government agencies.
Furthermore, the platform is said to be used by 25 per cent of the gambling industry, offering an automated enhanced due diligence data aggregation and reporting solution.
Synalogik’s Scout solution enables organisations to automate data aggregation from multiple disparate sources, identify risk and report findings. The system integrates internal, third party and open-source data into automated workflows so that teams no longer need to log in and out of different data silos before decisions can be made.
The result is said to be “swifter and more rigorous decision making”, whether looking for fraud, money laundering or regulator-driven compliance checks.