Sanction Scanner renewed its brand as Complead and expanded into the US market

Sanction Scanner has transformed into an artificial intelligence-based end-to-end compliance, risk and fraud infrastructure and renewed its brand as "Complead". Complead, which crowned its US expansion with a New York company, is ending the era of old rule-based compliance and fraud software.

Founded in Istanbul six years ago and transformed into a global regtech player in the fight against financial crimes, Sanction Scanner announced its comprehensive technological evolution and global growth strategy. The company, which has transformed its service range beyond being just a "sanctions scanning software" into an integrated artificial intelligence-based infrastructure (AI-Native Compliance, Risk & Fraud Infrastructure), will continue on its way with its new brand Complead.

Since its establishment, the company has provided the compliance infrastructure of Turkey's leading institutions such as Türk Telekom, iyzico, Yemeksepeti, Togg, Midas and Hepsiburada, as well as world giants such as NN, Unity, Zurich, Loomis, Stellantis, Airhelp and the United Nations, and today serves more than 800 corporate customers in more than 80 countries.

Sanction Scanner Was a Photo, The Company Expanded Beyond That Photo

Making a statement about the brand change and the company's global vision, Complead Founder and CEO Fatih Coşkun stated that the main reason behind the change was the great technological leap experienced by the product:

"The name Sanction Scanner was correct when we were founded, because what we did was scan sanctions lists. But today, we create a customer's risk profile at the time of onboarding, monitor the transaction flow in real time, capture fraud patterns, resolve the final beneficiaries and prepare the file to go to the regulator. So the name was a photo of our company, and our company has expanded beyond that photo. We now offer not just compliance software, but an integrated artificial intelligence-based compliance, risk and fraud infrastructure."

The New Address of Global Growth: New York

The company, which formalized its presence in the United States market after its global structure based in London, moved its US operation directly to the field with the new legal entity and local team established in New York. Complead, which has already gained deep experience in the market with well-established American customers such as APMEX, Hometap and Candex, will offer a solution to the increasing regulatory burden of US financial institutions and fintechs with its artificial intelligence-supported infrastructure.

Coşkun said the following about the US move: “The world's largest financial crime compliance expenditure is made in the USA. The dominant players in the market are cumbersome and expensive systems established decades ago.

Compliance teams are caught between both boards' pressures for efficiency and regulators' expectations for explainability. “We are building exactly the intersection of these two needs.”

A New Era in Artificial Intelligence: Explainable and Defensable Compatibility

Pointing out that old rule-based software in the industry has reached the end of its life, Complead automatically concludes 77% of routine compliance cases thanks to the artificial intelligence agents and Fusion architecture it has developed. The system, which reduces false alarm (false positive) rates by up to 97%, does not produce any decisions whose source cannot be shown or explained during the audit processes.