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SYNALOGiK, a leading provider of data aggregation, automation and risk identification software solutions for compliance and fraud investigations, has been awarded a Queen’s Award for Innovation – the highest official UK award for British companies.
The innovation award was given due to their data aggregation platform, Scout® and its contribution to fighting financial crime and helping organisations with regulatory compliance across both the public and private sector. Since its creation in 2019, Scout® has quickly gained clients across the gambling, insurance, banking, legal and public sector; including large multi nationals such as Entain Plc, Betway, NatWest Group and several large Government agencies.
Gareth Mussell, CEO at Synalogik, said: “As former end users, we recognise the problems facing organisations today. As data becomes more readily available organisations need to harness the opportunity it provides to make intelligent decisions. Organisations need assistance to access, aggregate and analyse this data at scale.
“Scout® has been developed to overcome these challenges and we are really proud to see the hard work of our team and vision for the product independently validated with this award. The Queens Award for Innovation follows our recent Series A investment which is allowing us to scale up more swiftly and bring new products to market in the coming months.”
Synalogik’s solution, Scout®, is a unique platform that enables organisations to automate data aggregation from multiple disparate sources, identify risk and report findings in seconds. Scout® is the “Single Intelligence Environment”; permitting concurrent searches over multiple live data sources to be analysed. 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 swifter and more rigorous decision making, whether you’re looking for fraud, money laundering or Regulator-driven compliance checks.
Now in its 56th year, the Queen’s Awards for Enterprise are the most prestigious business awards in the country, with winning businesses able to use the esteemed Queen’s Awards Emblem for the next five years. It is an internationally recognised symbol of excellence. Winners have demonstrated outstanding success in their respective fields of innovation, international trade and sustainable development.