Axxion, one of Luxembourg's leading fund management companies, has introduced the YourKYCplus software from consulting expert CURENTIS. By using the digital tool, Grevenmacher-based Axxion aims to fulfill both the requirements of the Money Laundering Act and the specifications for outsourcing controlling in an equally digital and efficient manner in the future.
Fund companies are obligated to screen their various service providers as part of a due diligence process, identifying the ownership and control structure as well as the beneficial owners beyond doubt. The YourKYCplus software solution from CURENTIS supports financial institutions in meeting these money laundering prevention requirements: With YourKYCplus, the request for the numerous documents that need to be transmitted between fund company and business partners in the course of an audit is highly automated; business partners can easily and conveniently upload their documents to a protected area.
Armin Clemens, member of the Executive Board at Axxion, on the background to the decision: "With YourKYCplus, we were particularly impressed by how flexibly the software can be adapted to our business processes. For example, we were already able to implement suitable processes for different types of service providers, which can now be selected and started very easily. This saves us a lot of time in recurring checks and the creation of new fund partners."
Ralf Penndorf, CEO of CURENTIS AG, is pleased about the cooperation: "With Axxion, we were able to win an excellent Luxembourg-based investment company for us. Especially for investment companies in Luxembourg, Germany and Switzerland, our software can support the due diligence processes very efficiently."
CURENTIS AG is a regulatory and compliance product and consulting firm specializing in the financial sector. In the area of anti-money laundering, CURENTIS offers consulting services in the following areas:
- Know Your Customer / Know Your Business Partner / Due Diligence
- Transaction Monitoring and Screen Listing
- Implementation of new regulatory requirements
- Process optimization and automation
- Risk analyses, controls, policies and reporting
For more information, visit www.curentis.com