Effective AML/CTF controls

In order to be able to comply with current and future AML/CTF regulations and to adapt to the rapid changes the fund services industry is undergoing, organizations must have, first and foremost, effective controls in place to understand and manage their risk in a way that enables them to act quickly.

With the adoption of additional texts and regulations to enhance the legal framework around AML/CTF (e.g. CSSF circular 19/732, laws of 25 March 2020, CSSF regulation N°20-05, law of 25 February 2021, EBA revised guidelines on ML and TF risk from March 2021 and existing FATCA and CRS obligations), companies need stay up-to-date with effectively implementing solutions to meet these requirements for better control.

Using Metrosoft’s Fundsphere® platform, a coherent and cost-effective system that combines all required functionalities, will support financial services companies in putting these controls in place. In addition, it will allow them to focus on what is truly important such as current and prospective clients and to gradually shift towards agility and innovation.

Metrosoft’s solutions facilitate this shift for financial services companies by providing:

  • a real-time, data-driven system that supports the entire investor journey from the first contact, through to onboarding and ongoing servicing
  • full support of Know Your Customer (KYC) processes
  • automated sanctions and PEP (Politically Exposed Persons) screening
  • transaction monitoring to identify unusual investor behavior and suspicious trades
  • integration of trusted data sources which shortens onboarding time and reduces the amount of physical documentation required for customers
  • collection and analysis of digital data and use of metrics to highlight areas for optimization
  • support of account maintenance, reporting and client service

The various web-based Fundsphere applications are easy to use, accessible to investors, distributors, asset managers and asset servicers and allow for instant feedback, which is what is expected by today’s clientele. Risk management and control are no longer a tick-the-box-exercise but have become a part of the way a business is run, with a better understanding of the current state and improved compliance.

Focus on what is important

With the agility and the change of mindset that the implementation of the Metrosoft Fundsphere Compliance application can bring, financial services organizations will have a better understanding of environmental dynamics and their impact on the business—with a real-time view of the current state of affairs. This will allow organizations to focus on what really helps them grow: looking after their clients and taking on new business.

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