Digital transaction monitoring feature
Improve your efficiency thanks to our digital transaction monitoring functionality. Our company, COMPLIANCE INNOVATIONS B.V. is owner of RAEMONDA, an advanced digital compliance information system for managing CDD/client acceptance and client review process and implementing a transaction profile and monitoring transactions for financial service providers (both Wtt and Wwft).
With RAEMONDA, we offer the user a tool to comply with the laws and regulations regarding CDD & KYC in a transparent and efficient manner with a logging functionality to demonstrate the audit trail. Monitoring transactions is a time-intensive process. With RAEMONDA this process is considerably accelerated. Based on the information you gathered in the client acceptance process you define all the cash expectations and non-cash expectations to obtain a complete transaction profile.
Our CDD & KYC program supports in the process of recognizing and assessing potentially unusual transactions, both cash and non-cash, to prevent money laundering and terrorism financing. Information can be assessed both qualitatively and quantitatively.
Client acceptance CDD & KYC
DNB’s focus on data and digitisation. As developer of the CDD & KYC software program RAEMONDA for both Wtt and Wwft regulated companies, we highly welcomed DNB’s latest press release of 22.1.2020. They announced “to adopt a more data-driven approach and focus on the use of digital technologies in its supervision”. In 2020 they “will strengthen their cooperation with the sector in order to build their knowledge of the impact and opportunities of technological innovations”.
With RAEMONDA, the user is in-control, up-to-date and can manage an efficient and reliable client acceptance process. This process can be tested and the relationship with the source documents is clearly established. Our software program contains various client acceptance lists that have been compiled with the greatest possible care based on legal requirements.
How well do you know your customer? An important issue within the Trust Offices Supervision Act 2018 (Wtt) and the Anti-Money Laundering and Anti-Terrorist Financing Act 2018 (Wwft) is the ‘Know Your Customer/Client’ principle (KYC). This principle stipulates that a financial service provider is obliged to know its clients well before doing business, in order not to get involved in money laundering, terrorism financing, and other illegal activities.
COMPLIANCE INNOVATIONS B.V., in-house developed RAEMONDA, an advanced digital CDD/KYC information system. This software program has an automated KYC screening process, a CDD/client acceptance and client review process, implementing a transaction profile and monitoring transactions for financial service providers (both Wtt and Wwft).
Learn more about how RAEMONDA deals with CDD/KYC and transaction monitoring on our website or contact us directly at + 31 (0) 85 48 91 829 or firstname.lastname@example.org