AML360 expands into RegTech outsourcing

Published by: Asia Pacific AML, Wednesday 29 January 2020, 9am

AML360, a RegTech start-up, is expanding its SE Asia presence, with third-party outsourcing being one of its key services.

An integral part of the AML360 anti-money laundering risk advisory software is the end-to-end platform. The platform allows businesses to complete customer/client onboarding, client risk profiling, transaction monitoring, inhouse compliance reviews and case management.

AML360’s team now includes consultants, compliance professionals, academics and ex-regulators with a stronger presence in the SE Asia region. Its technology can be used across the financial industry services, including large banking corporates through to lawyers, accountants or an owner/operator money remittance business.

As the technology solution provides an end-to-end service, this allows AML360 to expand into providing outsourcing services to businesses whose budget does not allow for appointment of full-time or part-time staff.

2020 brings further opportunities for AML360 as it focuses on developing affiliations with large advisory businesses that are seeking to expand in the AML compliance advisory space. With a white label solution, powered by AML360, an advisory practice can significantly increase business volume through the automated advisory software. These advisory businesses can tailor the software to their requirements. Because the system is automated, a small law firm can manage high volumes of their clients’ requests, such as completing a firm-wide business risk assessment.

The three co-founders of AML360 include Kerry Grass, an ex-banking compliance professional and former regulator. Dr. Nicholas Gilmour, an academic lecturing at universities and former government adviser, and Dominic Ritchie, an information technology specialist with experience in working a variety of industries including financial, insurance, e-research universities and government.

Further information.

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