The increased caution in the corporate environment regarding doing business with partners involved in legal proceedings, corruption cases, environmental issues, financial crimes, and others has led Kronoos, a SaaS compliance platform that conducts research across thousands of sources to verify the integrity of individuals and companies, to close 2024 with a historic record of 60,324 dossiers compiled throughout the year.
According to Kronoos CEO Alexandre Pegoraro, the volume of dossiers completed in the past year represents a 21% growth over the amount accumulated in 2023, when the company had conducted 49,884 verifications. He notes that the numerous regulatory processes that various economic sectors are undergoing have heightened concerns about the legal standing of partners with whom companies are considering doing business.
“Every time a case gains negative repercussions for corporate image, there is a growing understanding that associating brands with ventures that present such situations causes a type of damage that, although intangible, certainly translates into a significant impact on business,” he states.
Moreover, Pegoraro explains that increasingly, investors and entrepreneurs are becoming aware that it is up to them to take all necessary precautions to prevent this from happening. “This awareness process manifests in the search for emerging technologies applied to specific methodologies that allow for this type of investigation to be done quickly and cost-effectively,” he adds.
To compile compliance dossiers, Kronoos uses data mining to cross-check large sets of information to identify anomalies, patterns, and relationships. This work is performed by intelligent systems that combine Big Data Analytics, statistics, artificial intelligence, and machine learning to generate analyses useful for users’ objectives.
“The major advantage is the ability to automate the search and compilation of data across various national and international databases. The technology enables investigations across more than 3,500 sources, with research results delivered in under a minute,” he concludes.
During the 12 months of 2024, the platform was used to verify the conditions of 22,300 companies. Regarding individuals, 2024 broke the historic record with 26,432 dossiers compiled. Kronoos also develops comprehensive reports on vehicle status, in addition to specific analyses related to credit, among other services.
