Amsterdam, Feb. 14, 2024 – Accountants using Simplicate can capture the KYC process and associated AML risk assessment through integration with compliance software Grub. The automatic link between the systems provides a fully streamlined process regarding client acceptance and continuation.
AML mandatory
Accountants have been subject to the AML (Money Laundering and Terrorist Financing (Prevention) Act) since 2018. Checking, monitoring and reporting risk of fraud and money laundering of their clients is a necessary and mandatory task on top of regular accounting work. The risk of complicity fines and the importance of policy integrity puts pressure on financial services firms.
Compliance and AML software
ComplianceWise, the company behind AML solution Grub, addresses this challenge and its mission is to make the financial world safer with the slogan “Software as a Relief.”
AML capture in CRM Simplicate
The information fields read in from Grub with Simplicate are: Status of client acceptance, Client name, Risk profile, Date of acceptance, Date of next review, UBO structure and pdf reporting option.
Partnerships
Grub links with the Chamber of Commerce, among others, and also has partners in advanced web search and e-verification. The collaboration with CRM software Simplicate is logical choice in the mission to make the KYC and AML process for accountants manageable and efficient. The link was built by integration partner Yenlo. More links with popular accounting software parties and Grub are expected to follow during 2024.
About Simplicate
The CRM tool handles the workflow for more than 1,300 companies from the first customer contact to the invoice. A solid KYC process and AML check supplemented by Grub completes this solution. Learn more >
