Key Trends
In 2024, the growing focus on ESG risk frameworks has become increasingly critical for organizations seeking to manage their environmental, social, and governance exposures. CEO Dermot Corrigan and CCO Hugo Chamberlain’s valuable thought leadership pieces have provided expert insight on integrating these frameworks into risk management strategies. Some of smartKYC’s most popular blog posts included:
ESG
Companies typically think about ESG from two perspectives: 1) measuring their own credentials, such as sustainability, ethical behaviour, etc. and 2) evaluating the investments they make. However, corporations also recognise another angle—that the ESG misdeeds of the suppliers, representatives and partners they do business with might present a risk to them, by association.
smartKYC’s ESG risk framework allows organisations to:
- See all possible categories and over 100 sub-categories of ESG risk
- Gain a thorough understanding of what ‘bad’ ESG is
- Learn how to prioritise and calibrate risk based on their organisation’s unique worldview
- Gain the knowledge they need to screen and monitor third-party relationships with confidence
AI
The Perils and Promise of Using Generative AI for KYC Screening

In this insightful analysis, Hugo Chamberlain, smartKYC’s CCO, explores how financial institutions can harness the transformative power of generative AI while navigating its inherent risks. Drawing from extensive industry experience, Chamberlain advocates for an ‘augmented intelligence’ approach that enhances rather than replaces human expertise in KYC processes. His balanced perspective offers practical solutions for financial institutions looking to modernise their compliance operations while maintaining regulatory standards.
Regulations
DOJ Corporate Compliance Guidance and CS3D – Achieving Due Diligence Compliance
In this thought-provoking analysis, Dermot Corrigan, CEO of smartKYC, examines the far-reaching implications of the US Department of Justice’s 2024 updates to its ‘Evaluation of Corporate Compliance Programmes’ guidance. Corrigan explains how these changes, alongside the EU’s Corporate Sustainability Due Diligence Directive (CS3D), are reshaping the landscape of third-party risk management for global organisations.
Corrigan reviews the unprecedented challenges faced by multinational corporations in achieving regulatory compliance, and makes a compelling case for AI as the only viable solution to these complex issues, while also addressing concerns about responsible AI implementation.
Adverse Media Monitoring
smartKYC’s 10 Best Practices for Perpetual Adverse Media Monitoring
In this guide, Dermot Corrigan demonstrates smartKYC’s visionary approach to risk management in the financial sector. Corrigan highlights how their prediction from four years ago about the importance of perpetual adverse media monitoring has become a reality in 2024.
Recognising the challenges organisations face in implementing such programs, Corrigan introduces smartEYE, an innovative solution that addresses these concerns. He emphasises the shift from interval-based rescreening to continuous, real-time monitoring of vast amounts of unstructured data.
Corrigan emphasises customisable risk parameters, allowing organisations to define their unique risk profiles. This approach moves beyond traditional database lookups, offering a more nuanced and tailored risk management strategy.
By providing a set of best practices, Corrigan offers practical guidance for organisations navigating this new landscape of perpetual monitoring.
Unmasking Modern Slavery: Multilingual NLP in Adverse Media Screening
Hugo Chamberlain offers a compelling exploration of how multilingual Natural Language Processing (NLP) can revolutionise adverse media screening in the fight against modern slavery. He emphasises the critical role of language understanding in uncovering hidden human rights abuses across global supply chains.
By delving into the complexities of detecting modern slavery across diverse linguistic and cultural contexts, Chamberlain highlights how multilingual NLP can overcome language barriers, recognise regional idioms, and interpret subtle cues that may indicate exploitative practices.
The article provides valuable insights into the application of advanced technologies like sentiment analysis and machine translation in supplier due diligence. Read the full article for a comprehensive understanding of how multilingual NLP can enhance ethical business practices and contribute to the global fight against modern slavery.
The Evolving KYC Due Diligence landscape
The Evolution of KYC Screening into Integrity Screening: Beyond Financial Risks

Hugo Chamberlain challenges traditional notions of risk management in his thought-provoking analysis of KYC’s evolution. He argues that today’s organisations must look beyond financial risks to safeguard their reputation and integrity in an increasingly complex global landscape.
Chamberlain introduces the concept of “integrity screening,” an holistic approach that leverages cutting-edge AI and NLP technologies to continuously monitor for ethical breaches, ESG concerns, and adverse media across multiple languages.
By presenting real-world applications and addressing key challenges, Chamberlain offers a roadmap for the future of risk management. He envisions a world where AI-driven integrity screening becomes the norm, fostering ethical business practices and sustainable growth.
The evolution of KYC to KYX: understanding your counterparties
In this thought-provoking article, Hugo Chamberlain introduces the concept of “Know Your eXternal party” (KYX) as an evolution of traditional Know Your Customer (KYC) practices. Chamberlain’s approach recognises that in today’s complex business landscape, risk extends far beyond individual customers.
He argues that organisations must broaden their due diligence to encompass a wide range of counterparties, including suppliers, employees, funds, and partners. Chamberlain emphasises the critical importance of this expanded approach in an era of global interconnectedness and intricate supply chains.
By outlining the applications and benefits of KYX, Chamberlain positions it as essential for enhanced risk management, compliance assurance, and reputation protection, while also acknowledging the challenges of implementing KYX, such as data overload and privacy concerns.
This article offers a blueprint for organisations to navigate the complexities of modern business relationships more effectively.
Company milestones and achievements
smartKYC’s award-winning technology garnered 5 awards this year, including:

smartKYC’s award-winning software automates all that is labour intensive or impossible to do using human effort.
Using artificial intelligence KYC and industry-leading multilingual natural language processing, your KYC operations will be transformed.
Discover smartKYC’s award-winning technology: Book a Demo.
Speaking engagements
smartKYC’s CEO, Dermot Corrigan, shared his expertise in adverse media monitoring throughout the year at leading industry events and talks, including World Procurement Leaders Congress and DPW.
smartKYC’s Michael Byrne also spoke at 1Lod.
We look forward to all that smartKYC has in store for 2025! To keep up-to-date with smartKYC and gain further insights, please follow us on LinkedIn and sign up to our newsletter.