2024 in review and the road ahead: shaping the future of compliance leadership

As we continue to build our compliance leadership edge, let’s take a moment to have a look back on the compliance and broader financial landscape over the past 12 months. Things move quickly, so it’s easy to overlook key developments! Here’s a selection of how businesses advanced their compliance efforts in 2024 – and a glimpse of what lies ahead.

2024 in review and the road ahead

Larger compliance ecosystem through partnerships

At a company level, we’ve been growing rapidly and steady – a testament not just to our own efforts, but also to the fact that our Harmoney platform fills an absolutely critical compliance gap for organisations worldwide. One of our biggest moves in 2024 was our acquisition of APPC, the compliance-focused subsidiary of the Forsides Group in France. After a close partnership that lasted five years, we’ve now fully integrated their expertise to deliver the best possible anti-money laundering (AML) and counter-terrorist financing (CTF) tools. In our blog on the topic, we explain how this acquisition helps financial institutions.

There’s been more news from the partnership front last year. Over the summer, we officially joined forces with Discai, the fintech subsidiary of KBC Group. This marked a significant step forward for AML detection and management, notably with the integration of advanced AI-based alerts into the Harmoney platform. Another exciting new addition to our stack is KUBE, the new centralised hub for verified corporate data launched by a consortium of Belgium’s four largest banks. It’s a great initiative that improves the standard for safe, secure and transparent client data management. As KUBE’s partner and integrator, our platform enables banks to contribute to and retrieve client data from the centralised data repository, in a way that is fully regulatory compliant.

Catering to 45+ financial institutions

As our Harmoney partnership network has grown, so has the number of FIs working with us. More than 45 financial institutions now have easier compliance processes in place through our platform. How do they make their compliance ecosystem work in practice? Discover our cases and customer testimonials to help companies find inspiration for their use cases. New testimonials on topics like client screening (Swiss Life) and digital onboarding (Hauck Aufhäuser) provide inspiration on common compliance scenarios.

New collaborations to address top compliance concerns

As we noticed during recent events – such as the AFCCE conference our team attended last September – several key concerns for compliance leaders keep popping up. Regulatory changes, geopolitical risks and sanctions, and advancements in AI and other technologies are the top three issues on the minds of AML and compliance specialists at financial institutions.

We’ve written extensively about these topics, outlining how we believe organisations can use AI in compliance effectively and what measures financial institutions can take to achieve full DORA compliance.

With a fresh wave of anti money-laundering legislation on the horizon, we’re preparing to make sure organisations are well ahead with their compliance setup. To stay ahead, we’re going beyond the usual range of continuous software updates to our compliance platform modules. At the same time, we have more collaborations upcoming with major players who share our compliance philosophy, together with new team hires to provide additional support and build new platform features. Stay tuned!

Harmoney offers a cutting-edge digital platform that streamlines intricate onboarding and compliance procedures, featuring automated screening functionalities. Interested in discovering more about our innovative solution? Reach out to us for further details!