AML solutions for Asset Management

Digital onboarding, AML screening and in-life monitoring of your client base

The consultant PwC forecasts that global assets under management will rise by close to a third between 2020 and 2025, breaking through the $145 trillion barrier. This provides a huge and growing opportunity for criminals to hide their money in plain sight and legitimise the proceeds of their wrongdoing.

As a direct result, financial regulators are taking a far greater interest in the asset management sector’s compliance with anti-money laundering (AML) and combating the financing of terrorism (CFT) legislation.

Asset managers that fail to recognise and respond to this mounting risk are putting themselves in danger. It’s not just the prospect of regulatory penalties and the subsequent burden of remediation and increased supervision, but also the reputational damage from conducting business with the wrong type of client. It’s also important to note that the directors and senior managers of asset management businesses who fall foul of regulations may even be personally liable for penalties and prosecution.

The challenge for every asset manager is to ensure compliance with all the relevant regulations, while ensuring customers receive a professional and efficient service. As a result, it is crucial to identify and mitigate any potential risk by implementing robust processes and procedures, but also to ensure that they don’t stand in the way of a burgeoning relationship.

RiskScreen can help you to achieve all these goals through the very latest automated onboarding and screening technologies. For a no-obligation demonstration of the full capabilities of our solution, contact us today.

The RiskScreen ecosystem

The RiskScreen AML platform provides an end-to-end solution for your management and protection against financial crime. Choose single or multiple modules, as your organisation requires.

Save weeks of work by conducting digital identity verification of individuals, as well as full KYC and KYB screening checks through your dedicated web portal and mobile app.

The risk levels you decided at onboarding can then carry through to your ongoing screening and monitoring.

AML screening against sanctions, PEP and watch list data – as well as adverse media – to establish your customer’s risk level.

Screen as a one-off at point of sale or pre-onboarding, then follow this up with ongoing scheduled batch screening across your customer base – so you’re alerted about changes, and can be confident in your exposure.

Revolutionise your decision making with RiskScreen’s in-life monitoring modules.

Turn your existing static and dynamic customer information into hot data for real-time risk analytics and reporting with our truly transformational approach to data and risk management.

Further reading

News

Danske Bank: What went wrong?

It is hard to imagine that a bank is capable of laundering hundreds of billions of euros in just eight years. The Danske Bank scandal

Find out why RiskScreen is the smarter way to combat money laundering

Any screening technology is only as good as its underlying data. That’s why work to find the best providers, ensuring you get screening matches you can trust.

Resources

The latest news, commentary and events from RiskScreen. For industry insight, visit our AML insight hub, KYC360.

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Company

RiskScreen was founded by experts in financial crime. It’s because of this unrivalled subject matter expertise that companies choose to partner with us.