Lemon Way selects Accuity for financial crime compliance
Lemon Way will use the solution to enable it to manage its compliance screening – “improving transparency, auditability and efficiency during the process of new customers”.
According to Lemon Way, the decision follows a period growth and it is now preparing for future expansion. To accommodate this growth, Lemon Way says it chose Accuity to implement a “more scalable” solution which enables it to continue to fulfil its regulatory responsibilities, “without disrupting the flow of business”.
Patrick Hinchin, VP of product and strategy at Accuity, says: “Regulators are increasingly asking financial institutions and designated non-financial businesses and professions to provide clear audit trails and decision making evidence, demonstrating they have performed appropriate levels of due diligence when accepting new customers.”
Accuity says its Firco Compliance Link provides automated account screening with consolidated reviews with an online audit trail. The solution will give Lemon Way “high-level” transparency and analytical statistics to help the business comply with regulatory standards, whilst at the same time reducing manual processes.