FOR IMMEDIATE RELEASE
PHOENIX, AZ JANUARY 14, 2019 – A note from Vic Maculaitis, founder and chief executive of THE DATA INITIATIVE.
For the past 16 years I have been a mission focused, problem solving professional. More specifically I have spent a career trying to make a difference in the fight against illicit activities, terrorism, money laundering, and financial crimes. In late 2017 I had a vision to build a data and technology company that was truly focused on supporting and enabling the work done by professionals just like me. A true solutions concept that solved a real problem, often overlooked, but persistently painful throughout my days as an analyst, an operations leader, a consultant, and a program executive.
In a marketplace flooded with solutions providers (consultants, software/content companies, and staffing firms) – I set course to bring a new solution to bear, with distinction and without marketing claims that would never come to fruition. That new solution is data (not negative news or watchlist data, not data that addresses the 1/100th of data points needed for KYC) – but an all encompassing data pack (as we refer to it) of the unified and curated critical money laundering data that goes into an ecosystem of strategic information that can be used by every single person operating and making decisions within a financial crimes program.
When we began product development in February of 2018, we did it with real financial crimes practitioners – and we did it the old fashion way. We conducted research based on requirements, methods, and techniques – we built a process to extract meaningful insights from the data we collected – we began creating value, purpose, and utility. In parallel we began work on our prototype application that would be the UI/UX for the day-to-day operator and decision maker. We began adding data scientists and talented engineers that supported our experts vision of what a user experience should look like. We never let product development (or the business plan) be influenced by the buzzwords of the day (AI, machine learning, RPA, etc.). We focused on solving the problems we all faced as practitioners, or at least making it better.
What we have built and what we are making available this week to our colleagues and to the world is called ignitionX + the 100 Series Money Laundering Data Pack – a collection of more than 8500 unique files from over 650 unique credible sources synthesized into 16 unified data sets, 6 logically organized data products within one single platform. The utility is endless and the value equates to more efficient and more intelligent decisions.
We will make no claim that our solution will reduce the need for people, because we know first hand that people are what make programs work. Our claim is honest and straightforward – we provide a solution that supports you and inevitably will make you more efficient.
While we are certainly a for-profit business aiming for big revenues and growth, we are not just another large company attempting and continuing to capitalize on a marketplace in real need of solutions that actually make the work better. We know we have built an amazing product – our goal now is simple – we want to continue to build a great company – one that makes profits that we can reinvest into our employees and into more products that make a difference.
As we enter the marketplace this week, I call upon all of you to follow our journey and schedule a demo immediately. From one practitioner to another, THE DATA INITIATIVE is a must have partner in the fight against financial crimes.
All the best in 2019 and beyond,
Founder and Chief Executive
THE DATA INITIATIVE