First AML launches self-service AML solution for complex onboarding needs

Rick Steves

“The manual process we had before was so tedious. I’d recommend anyone wanting to streamline their CDD / KYC processes to utilize First AML Source.”

First AML, a global anti-money laundering (AML) scaleup, has announced the launch of its self-service platform, Source.

Designed to redefine AML workflows for compliance professionals and teams, this platform promises to deliver an unparalleled solution for organizations dealing with intricate, multinational onboarding requirements.

With a focus on streamlined collaboration and ensuring AML consistency, First AML Source is set to revolutionize the way businesses approach AML compliance.

Streamline AML compliance for businesses with complex onboarding needs

Targeted at compliance teams across various sectors, including financial services, law firms, accounting firms, and real estate agencies, First AML Source is a game-changer. The platform aims to help businesses save valuable time, reduce costs, and eliminate the frustrations often associated with AML compliance. Whether dealing with straightforward EIV checks or tackling the most complex and high-risk compliance areas, First AML Source equips organizations with a comprehensive suite of tools and capabilities, all accessible from one platform.

First AML Source offers a range of key features designed to simplify and enhance AML compliance:

Global Reach: Access to over 300 global corporate registries spanning more than 100 countries.
AI-Powered Identity Verification: Utilizes AI technology for efficient identity verification.
Compliance Automation: Automates compliance processes for improved efficiency.
Data Collection Decisioning: Streamlines data collection and decision-making.
Real-Time Case Visibility: Provides real-time insights into compliance cases.
AML Intelligence: Equips users with vital AML intelligence.
Risk-Tolerance Flexibility: Offers flexibility in managing risk tolerance levels.

These features combine to increase onboarding efficiency, enhance compliance workflows, maintain consistency in compliance processes, and reduce the risks of data security and privacy breaches.

70% efficiency increase with First AML’s Source

Milan Cooper, CEO and Co-Founder of First AML, said: “We are proud to introduce First AML Source as the go-to solution for businesses grappling with complex onboarding processes and evolving AML requirements. Our next-generation platform is purpose-built to empower organizations to orchestrate and navigate the intricacies of AML compliance effortlessly, ensuring efficiency, accuracy, and peace of mind. Beta users have told us they have seen a 70% efficiency increase with using the platform.”

Rebecca Black, Administrative Manager at Cleaver Partners, commented: “The manual process we had before was so tedious. I’d recommend anyone wanting to streamline their CDD / KYC processes to utilize First AML Source.”

First AML Source arrives at a crucial juncture as businesses grapple with mounting regulatory challenges. Rising costs and the need for robust AML measures have never been more critical. In this landscape, First AML Source stands out as a one-stop solution, arming organizations with the tools needed to effectively navigate complex global compliance requirements.

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