Automated KYC, AML compliance and sanction list monitoring for Law and Tax Firms.
Regulatory Lab supports European law firms and tax advisers to meet all regulatory requirements by managing the entire onboarding and AML process.
We make it easy to comply with the AML directive: Client onboarding, Matter approval and Sanction list monitoring.
Can you provide records that clearly state which procedure you have followed? And also show what your considerations were with regard to your client acceptance? Regulatory Lab ensures that all steps are registered completely and in a logical manner. So that you can submit an audit trial with extensive evidence during an audit.
Accelerate Client Acceptance
The meeting with your client about the origin of funds, may feel uncomfortable. Still, the onboarding process doesn't have to disrupt the relationship. Regulatory Lab gives your professionals the tools to easily identify and record the persons involved, UBOs, structures and source of funds for your clients.
Record the Matter Information
All possible external data such as case law, explanatory memorandum and sanction lists are used to fully record all considerations with regard to client acceptance and file-specific information. A specific dashboard for each transaction based on your own office policy provides a complete overview of both objective and subjective points of attention.
Review, approve and create an Audit trail
A crucial part of this story is of course the control of the regulatory body. This puts a lot of pressure on your resources and personnel. In other words, with our application you can always provide an administration that clearly states which procedure you have followed and what your considerations were with regard to your client acceptance.
The AML directive has two core obligations; customer due diligence and the obligation to report unusual transactions. The AML module supports you with the identification and verification of clients and the recognition of unusual transactions. The module also provides a recording and audit trail of all necessary steps. As a result, you fully comply with all the AML requirements and are fully prepared for a visit by the regulator authority.
Holdinga Matthijssen Kraak
Since we are entrepreneurs ourselves, we understand better than anyone that our clients, mostly entrepreneurs, want to provide us with AML specific information in an easy and accessible way. The Regulatory Lab application helps us enormously in this process, as we are relieved from UBO forms, and we can quickly focus on the contents of the content.
Rob Londeman | Partner
VESPER Advocaten LLP
With the Regulatory Lab application, we are able to request the desired information from our clients quickly and in a client-friendly manner, whereby we immediately comply with all requirements regarding Voda and the AML Directive. We regularly work from home during Covid-19 period, and the application helps us to store all desired data consistently and securely.
Vincent Wismans | Partner