Challenge
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.
Solution
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.