2023 Harmoney recap and look ahead
In this blog, we look back at some of the key figures from 2023 and we give a sneak peek into the vision we’re building – and what this means for financial institutions looking to improve their compliance workflows and customer interaction further.
Continued international growth
Throughout the past year, growth has been the common theme for our Harmoney team. We’ve continuously expanded our global presence, with our workforce now spread across Europe and India. Simultaneously, we’re further growing our customer bases in Belgium, The Netherlands, France, Luxembourg and Spain. In 2023, our platform monitored more than 10 million companies and persons across our customer base. While this makes us proud, what truly reinforces our conviction is the feedback we receive. It affirms that our role as a compliance orchestrator significantly eases the day-to-day operations of financial institutions. Our screening platform is saving organisations countless hours every day, and we’re committed to keeping the momentum going.
2023 at a glance
- Harmoney team members expanding in 6 countries (Europe & India)
- +10 million companies and persons screened through our platform.
- Active partnerships in 5 European countries.
- ISO 27001 Certification for the Harmoney cloud platform
New ISO certification
Our ongoing commitment to security has received official recognition, as we obtained the ISO/IEC 27001:2022 security standard certification. The latest guidelines for this standard are especially rigorous when it comes to best practices for cloud services. Our platform now officially meets the strictest IT security requirements possible. This ensures that all financial institutions that count on us can rest assured that their information is stored and processed both securely and transparently.
Partnerships and platform expansion
All financial institutions deserve top-notch compliance orchestration, whether it’s for managing client lifecycles, digital onboarding or KYC remediation. In 2023, we continued signing up to our platform several major clients from various sectors within the financial industry. This includes insurance firms like MACIF, banking customers such as Hauck Aufhäuser, real estate holdings like AG Real Estate, and payment infrastructure providers like Mangopay. Our presence in the five key markets of banking, insurance, wealth management, real estate and car leasing keeps growing.
To help organisations save time, our platform is also accessible through our international partners. Currently, we have partnerships in Belgium, France, Luxembourg, Spain and Ireland. When it comes to features, we’ve been actively enhancing our presence by expanding our KYT (Know your Transaction) case management, alongside our core KYC services. As we introduced this feature to more clients, feedback has been overwhelmingly positive. Organisations are now finding it easier to monitor suspicious transactions and meet their compliance obligations.
2024 integrations and workflow improvements
We’ve got exciting things in the pipeline and our development team is hard at work on new features for 2024. Our main focus will be twofold: we’ll be adding both workflow and data intelligence improvements to our compliance and case management processes. Collaborating closely with all stakeholders in our customer base, we aim to provide them with the most seamless workflow possible. Currently, we’re future-proofing our architecture by leveraging AI and automation at every step of the screening process. We will also continue integrating the latest tech for passport screening, document scanning, document authentication and risk scoring to simplify workflows.
At the same time, we’re working to integrate with global and local players that matter most to our audience. We continue our support to integrate - direct or indirect - with global data and screening providers such as SymphonyAI Sensa Netreveal and Refinitiv WorldCheck.
Looking ahead, we plan to support more and more interfaces, connecting with every corner of the global fintech ecosystem. One example is DISCAI, amongst the RegTech100 innovators, offering AI-based Anti-Money Laundering software that detects significantly more suspicious behaviour. Our current integration with the SAS AML protection software is another collaboration we’re particularly proud of.
We’re observing that our holistic 360°-approach is the right way forward. As regulations are becoming more stringent across all aspects of operations – e.g. the EU’s new DORA legislation – , organisations increasingly rely on compliance orchestrators. We’re more committed than ever to keep building our leading platform.
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!