Customer stories

Because of the increasing compliance requirements defined by the ALD Automotive Group, they had to overcome the challenge of complying with the latest – and highly complex – rules in a more efficient and digitized way, as the manual process was not scalable and would have inevitably led to an expanding compliance team.

Via Harmoney, legal entity data are enriched, and related parties are instantly screened, generating a comprehensive risk score based on the ALD Automotive risk matrix. As a result, KYC/AML acceptance of low-risk clients is currently performed within seconds, which has improved the risk profile of the client portfolio in a customer and employee friendly way whilst avoiding growing the compliance teams. ALD Automotive also uses the Harmoney solution to manage the risks related to other stakeholders such as suppliers and partners.

New compliance requirements from regulators – and a rapidly approaching deadline – prompted the Belgian branch of the insurance firm Baloise to seek a flexible, specialized partner capable of digitally transforming customer onboarding workflows, with short and long-term ambitions.

During the initial phase, Baloise sent letters directly to 240,000 customers to request additional KYC information, and customers responded with an impressive response rate through the secure, white label Harmoney platform within 3 months.

Fund Channel aims to enhance KYC and AML processes by adopting a proactive, integrated digital platform. This approach seeks to streamline client services and simplify internal workflows while ensuring secure operations across branches. The digitalization aligns with their commitment to efficient and effective due diligence.

Fund Channel selected Finologee’s Harmoney-powered KYC manager for seamless integration with their ecosystem. The platform streamlines onboarding, enhances connectivity between clients and compliance teams, and ensures full regulatory compliance. This approach balances efficiency with a personalized customer experience.

Hauck Aufhäuser’s Asset Servicing division aimed to enhance operational efficiency while complying with strict regulations without compromising the onboarding process. Complex AML/KYC procedures slowed onboarding with risks of errors, paperwork, and compliance issues. Automation became essential, driven by stricter regulations and the need for more efficient internal processes.

Hauck Aufhäuser addressed its AML/KYC challenges by implementing Finologee’s Harmoney-powered KYC Manager. This platform automated onboarding processes while ensuring compliance with AML/KYC regulations. Key benefits included seamless integration with in-house systems, customisable workflows to fit banking needs, and centralised AML/KYC management for improved efficiency. Features like UBO verification, risk scoring, and automated data enrichment streamlined processes, reducing manual effort and enhancing accuracy. The result was a fully integrated, intuitive solution that balanced compliance with a smooth onboarding experience.

Swiss Life sought to enhance its client screening process by implementing regular, automated reviews based on a robust risk-based approach (RBA). Amid increasing regulatory demands, the organization aimed to ensure high-performance screening across its entire customer base. Additionally, the new screening platform needed deployment across two other locations: Liechtenstein and Singapore.

Swiss Life Luxembourg enhanced its screening process by implementing the Harmoney-powered KYC Manager in two phases: initially, the platform was customized to align with internal workflows and existing customer data was imported for a comprehensive initial screening; subsequently, ongoing lifecycle management and automated screenings were established at predetermined intervals using organization-specific risk-based approach parameters, ensuring compliance with internal risk policies.

La Mondiale Europartner, facing increasing regulatory pressures, sought to enhance compliance evaluation without adding resources or relying on inefficient, paper-based processes. Key priorities included improving data quality and increasing update frequency. Traditional workflows, heavily reliant on email chains with attachments or shared drive links, lacked cross-departmental coordination, hindering the institution’s ability to combat money laundering effectively.

The Harmoney-powered KYC Manager has transformed La Mondiale's client lifecycle management by automating and digitizing KYC workflows. This platform connects compliance teams, brokers, and clients, creating unified profiles to enhance AML efforts, prevent fraud, and streamline operations. Key modules include UBO verification, risk monitoring, and analytics, ensuring comprehensive compliance. The agile platform not only meets current regulatory demands but is also adaptable to future changes, making processes paperless, efficient, and aligned with evolving standards.