PwC buys Kusiri, London-based fraud detection start-up

Accounting and consulting giant PwC has acquired Kusiri, a technology start-up based in East London. Kusiri has been integrated into the Big Four, with six professionals joining PwC’s deals and forensics practice.

Kusiri is a technology firm which provides a forensic data search platform used to discover fraud and for compliance screening. The London-based technology startup was founded in 2008 by David White, former head of technology innovation at the Royal Bank of Scotland, Andrew Fogg, who also worked in technology innovation at RBS and Matthew Painter, a technologist who was previously at Yahoo. Since its inception the firm has grown strongly to its current team of 15+ professionals.

Over the past period PwC used Kusiri’s platform for the firm’s RADAR service – an ‘early warning system’ which allows PwC clients to manage a broad spectrum of risks including financial, regulatory, compliance and reputational. On the back of the successful collaboration the Big Four has decided to acquire the technology start-up. In a press release PwC states that six Kusiri professionals have joined the firm’s forensics team – the status of the remaining team members has not been unveiled.

"We have a long and innovative working relationship with the Kusiri team and we’re delighted they’re joining us,” comments Mark Anderson, Global Corporate Intelligence Leader at PwC and a former Deloitte advisor. Andrew Gordon, Deals partner and Business Unit Leader for Forensics at PwC, adds “This is an important acquisition for us. Kusiri provides a forensic search technology platform to financial institutions and professional services. It aligns with our desire to put technology at the forefront of what we do.”

The pickup of Kusiri follows a series of recent acquisitions and partnerships, including Ellis Financial Systems, digital consulting firm BGT, analytics expert Logan Tod & Co, and Booz & Company (rebranded as Strategy&).