The Proceeds of Crime Act imposed a direct obligation on the investment industry to report any suspected money laundering activity. The FSA's Money Laundering rules now require registered members to implement effective anti-money laundering systems, including,
But how does an organisation ensure it complies with all of the above without negatively impacting the customer experience?
The answer lies with URU, based on GB's ID3 technology!
Only URU has the ability to drive down operational costs, while securing more customers for the business - and all in a manner fully compliant with FSA and international regulations. URU's unique audit trail allows the business to drill down to individual customer details and verify exactly what checks have been made - and what the results of those checks were.
To find out more how ID3 technology and URU helps Life & Pension providers to maximise customer sign-ups while simultaneously promoting best-practice compliance please click here.
"Client verification is a real issue for us. Having a paper-based authentication process carries inherent risks and is simply unproductive."
As for our clients, their first experience of Killik & Co is often a cumbersome paper chase. With URU we have found an ideal solution! GB are the first people to take real steps towards removing the need for paper-based ID. We chose them to develop our ID solution because they showed real innovation and imagination in resolving our issues.
With URU we predict that we will: