News.

Wagumo Announces Contract for Supply of Search Technology for Compliance

March 3rd 2010 – London – Wagumo Limited, the developer of advanced search software and related technologies today announced the contract to supply a Swedish bank with search software which assists in their compliance process. The bank, which cannot be named for reasons of confidentiality will use Wagumo search as part of its anti-money laundering business process. Wagumo will complement the normal KYC (Know Your Customer) checks carried out by the bank to give an extra level of ongoing and continuous intelligence.

KYC fulfils a risk mitigation function,  and one its key requirements is checking that a prospective customer is not mentioned on any government lists for wanted money launderers, known fraudsters or terrorists. Wagumo assists in the frequent updating of bank customer files.

If initial KYC checks reveal that the person is a Politically Exposed Person (PEP), for example, increased due diligence must be done in order to ensure that the person’s source of wealth is transparent, and that he or she does not pose a reputational or financial risk in terms of their finances, public positions or associations. Beyond customer identification checks, the ongoing monitoring of transfers and financial transactions against a range of risk variables forms an integral part of the KYC compliance mandate.

David Morgan, CEO, Wagumo said, “I am delighted that Wagumo has been chosen to fulfil this important function. Our software starts to make sense of the huge and growing amount of data and documents on the web and in corporate networks. This is an ideal application as connections can be made and understood across multiple search engines and destinations when searching against a particular individual and/or corporation ownership especially in the SME market.”

About Wagumo

Wagumo is a software company with expertise in search, artificial intelligence, advanced user interface design, mobile technologies, compliance and business solutions. Wagumo was spun out of a UK publicly quoted company in early 2009 and has its headquarters near Northampton, England. It markets and sells its products through the Apple iStore, and a network of Value Added Resellers and Systems Integrators.

DataArt Develops Cutting-Edge Mobile Search & Push Technology for Wagumo Ltd

March 9, 2010 – LONDON & NEW YORK- DataArt, a high-end software development company with headquarters in New York and R&D centers in Eastern Europe today announced the release of a new range of Wagumo mobile software products for London-based Wagumo Limited.

Wagumo is designed to revolutionize the way people retrieve and receive information by searching online and corporate content repositories, organizing results into meaningful groups and themes and presenting them in a dynamic and visually stunning interface on a PC or a smart phone.

DataArt has been responsible for engineering the technology for optimizing performance and building a server based infrastructure to support the mobile platform, specifically developing a mobile iPhone application to represent search results in a comprehensive and visually intuitive manner.

DataArt also developed technology for embedding Wagumo into a corporate Microsoft SharePoint server, so that when documents or data are modified, Wagumo alerts are instantly pushed to the user’s smart phone to view the change.

“We intensively researched the development community for best of breed resources to help produce our exciting range of technologies” said David Morgan, CEO of Wagumo Ltd. “We were determined to work with people who shared our vision and excitement, who could demonstrate a breadth of innovative and first rate technical skills, and who had a track record of delivering high quality software on time. I have experienced many development teams over the years and I have been astounded by DataArt’s capabilities.”

The difference between traditional search engines and Wagumo is intelligent clustering. While a search for “Apple iPad” on Google will return roughly 26.2 million results, Wagumo will present about 30 clusters of intelligent groups such as “Reviews”, “Launch” and “Accessories” which a user can select for viewing, open one of the corresponding Web sites and electronically link his own comments before e-mailing to a friend.

“Working with Wagumo allowed DataArt to perform on the cutting edge of mobile technologies,” said Dmitry Bagrov, Senior VP of European Business Development at DataArt. “It’s gratifying to work with a young company which has truly innovative products and a clear vision for their implementation.”

The first commercial version of the software for iPhone will be available in a few weeks, with versions for other smart phones to follow. Corporate customers may obtain Wagumo through reseller channels.

About DataArt:
DataArt (www.dataart.com) is a high-end software outsourcing company with industry-specific expertise in financial technology, online travel, telecom and media sectors. The company specializes in enterprise application development, system integration and business automation tools. In 2006-2009, DataArt has been named one of the world's top emerging outsourcing providers by BusinessWeek, Global Services 100 and IAOP. Headquartered in New York City, DataArt runs four R&D centers in Russia and the Ukraine, and maintains offices in London, UK.

About Wagumo
Wagumo (www.wagumo.com) is a software company with expertise in search, artificial intelligence, advanced user interface design, mobile technologies, compliance and business solutions. Wagumo was spun out of a UK publicly quoted company in early 2009 and has its headquarters near Northampton, England. It markets and sells its products through the Apple iStore, and a network of Value Added Resellers and Systems Integrators