Verified

🔍 Connecting the dots: automating KYC Assessments for efficiency and accuracy With KYC/due diligence processes, gathering data is just the beginning; it’s the analysis that takes time and expertise. Here’s how automation can revolutionize KYC: ⏱️Reduced review time: Free up your team's valuable time for complex cases. ✔️Enhanced consistency: eliminate human error and bias with objective, rule-based criteria. 📊Improved accuracy: leverage advanced analytics to uncover hidden patterns and connections. 📜Guaranteed compliance: ensure assessments align with internal policies and regulations. But how can we achieve this in our KYC/due diligence processes? 1. Machine Learning: train algorithms to identify red flags and patterns in your data. 2. Risk-Scoring systems: assign risk scores based on predefined factors extracted from KYC data. These scores can then be used to categorize risk levels and determine review intensity. 3. Automated workflows: establish workflows that trigger actions based on risk scores. Low-risk cases get fast-tracked, while high-risk ones are flagged for manual review. 3. Continuous improvement: regularly monitor and refine your automation. As data and threats evolve, so should your algorithms. Embracing automation transforms KYC from a time-consuming task into an efficient, data-driven process. It saves time, resources, and ultimately strengthens your risk mitigation and compliance efforts. 🤖🔄🎯 #kyc #regtech #due #diligence #compliant

Transform your contract management with #AI-powered data extraction🤖 Managing a growing volume of contracts can be a challenging task. Manually extracting and categorizing important data from contracts is time-consuming and error-prone. Save time and effort⏱️ Our AI algorithm can process contracts in minutes, compared to hours or even days using manual methods. Increase accuracy🎯 Our AI is trained on a massive dataset of contracts, ensuring that the extracted data is accurate and consistent. Gain insights📈 With our AI’s ability to categorize and tag information, you can gain valuable insights into your contract portfolio. Extract, set up rules, important fields and enjoy the automatic categorization and tagging. Empower your organization with AI-powered contract management. #AI #automation #contractmanagement #legaltech

The Norwegian-owned company, Medvind Assistanse is dedicated to providing user-directed personal assistance, empowering individuals with disabilities to lead active and independent lives. They’ve leveraged Verified’s digital platforms to streamline crucial HR processes, including recruitment, work scheduling and onboarding for new clients and partners. 📊The smart document library has offered a seamless solution for storing PDFs and reports. This feature has empowered Medvind Assistanse to present documentation efficiently during inspections by local authorities. 💼Embracing digital transformation, Medvind Assistanse has successfully eliminated manual paperwork. The transition to online onboarding for personal assistants and patients/users has not only saved time but also valuable resources. We’re proud to support Medvind Assistanse on their continuous and exciting operational journey ahead! 🚀 #innovation #digital #HR #solution

The Anti-Money Laundering Act (AMLA) is a complex web of regulations, but understanding its core components is vital for financial institutions to maintain compliance and mitigate risks.🏦 Let's break down the key components: 🔍 General risk assessment: each institution must conduct a comprehensive risk assessment to identify its unique vulnerabilities to money laundering, taking into account factors such as customer base, products, and geographic location. 📝 Internal procedures: well-defined, documented internal procedures are the backbone of AML compliance. These procedures should cover customer identification, ongoing transaction monitoring, and reporting of suspicious activity. 👤 Know Your Customer (KYC) & Customer Due Diligence (CDD): thoroughly verifying customer identities, understanding their business activities, and identifying any politically exposed persons (PEPs) or beneficial owners are essential steps in mitigating risk. 📊 Risk Classification: classify customers based on their risk profiles, allowing you to allocate resources and implement appropriate controls more effectively. 🔄 Continous Monitoring: regularly update customer information and transaction profiles, and stay vigilant for unusual or suspicious activity. 🚨 Reporting: report any suspected money laundering activities to the Financial Intelligence Unit (FIU) or relevant authorities promptly. 🎓 Employee Training: ensure your staff is well-versed in AML regulations, internal procedures, and red flags to identify potential money laundering activities. AML compliance is an ongoing process, not a one-time event. By adhering to these key areas, financial institutions can proactively safeguard their operations and contribute to the fight against financial crime. 💼 #AML #compliance #finance #regtech

Manually managing contracts can be a tedious and time-consuming process, often leading to errors and delays. 🛑 Support your everyday operations with the help of AI - to save valuable time and resources 📈⌛ #contract #management #AI

Don't be a template trap: tailoring #AML compliance to your business 🧩 In the complex world of AML regulations, a one-size-fits all approach isn't really suitable. While templates offer a convenient starting point, they often fall short in addressing the uniqueness of your business, potentially leaving you vulnerable to compliance gaps. Why customization is key👇 🔵 Tailored risk assessment: your business faces unique risks based on its industry, customer base, and georgraphical location. A customized AML strategy strats with a comprehensive risk assessment specific to your operations, enabling you to start focus resources where they matter most. 🔵 Optimized compliance: generic templates might include unnecessary measures that burden your business without adding value. A tailored approach streamlines the compliance efforts, saving time and resources while ensuring regulatory requirements are met effectively. 🔵 Enhances effectiveness: by understanding your specific vulnerabilites, you can design AML controls that are more effective in detecing and preventing suspicious activities. This proactive approach strenthens your defense against financial crime. By customizing your AML strategy, you not only ensure regulatory compliance but also strengthen your defenses against financial crime, ensuring long-term sustainability. #aml #compliance #regtech #riskmanagement

Tired of hunting down contracts in different places? 🗂️ Centralize and streamline your contract management - from start to finish ✍️🤝 #contract #management #tech #operations

Q4 Næringsmegling AS, specializes in brokering and leasing commercial properties in Norway. With a focus on the Vestfold and Telemark regions, they sought a streamlined solution to meet their AML-obligations. 🏢💼 Verified's cloud-based platform offered the efficiency and security they needed to conduct thorough client due diligence, manage AML compliance, and facilitate e-sign. 📈 https://lnkd.in/dedFJRwf #AML #compliance #cloudtechnology #esign

Don't miss out on these two webinars from our sister company GRC WATCH - due diligence & KYC platform with Linda Hellström and guest speakers: 👉 236 days left - are you ready for DORA? Gain valuable insights from Björn Wendleby and DORA expert Richard Engblom. This is a must attend for anyone in the financial sector! Register here: https://lnkd.in/dmKHKFQm 👉 Know Your Assets - portfolio due diligence Join Frank-Wolfgang Schaffer, a leading expert in AML & KYC, for an EU-focused discussion with a Luxembourg perspective. Register here: https://lnkd.in/deq-fqCP ✅ Great opportunity - make sure to sign up! #DORA #AML #KYC #webinar #financial #regulations

ISEC Group AB enhances offering with Verified AML for their customers is the Nordics 👏 ISEC provides services and solutions in asset management, including handling portfolios and providing cloud and outsourcing services for fund management, private banking, and risk control with high performance. With headquarters in central Stockholm, ISEC administrates over 180 funds and share classes and approximately 10,000 private banking portfolios, with a total AUM of SEK 300 billion. Now, they’re expanding their service offering through a new collaboration with Verified AML. ✔️ ‘’ISEC is happy to strengthen our collaboration with Verified. The enhanced joint catering to our clients needs to be compliant with AML and KYC regulations, as well as the opportunity to consolidate processes and for ISEC to provide operational excellence." - Daniél Lundberg, CCO ISEC Group AB This partnership will at first provide ISEC’s clients across the Nordic region with Verified AML as a standalone add-on service. The next step is to fully integrate the solution for anti-money laundering (AML) in ISEC’s existing processes. ⚙️ ‘’We are proud to partner up with ISEC, a recognized leader in the Nordic financial sector. This collaboration allows us to extend the reach of our AML solution and empower ISEC’s clients with cutting-edge technology to streamline their AML compliance processes.’’ - Tommy Flemström, Founder at Verified. Verified is looking forward to the collaboration, providing ISECs clients with the tools and support needed to navigate the complexities of AML compliance ⭐ #aml #compliant #KYC #collaboration #compliance