Intelligent Compliance Automation

Reliable identification of persons and organizations

According to the Money Laundering Act, all persons and organizations involved in financial transactions must always be clearly identified and legitimized. In addition to the direct business partners, such as a first or second applicant and guarantor, this also applies to all other partners associated with the transaction (sellers, beneficial owners, authorized signatories, control holders, etc.). In addition, companies also have their own right to avoid risky transactions in terms of their corporate governance by having precise knowledge of the persons involved.

To this end, our solution offers reliable external data sources with up-to-date profiles of more than 650,000 individuals and organizations and dedicated sanctions, PEP and embargo lists. You can also integrate your own lists with any partners. This allows high-risk business partners to be identified quickly and reliably.

Key features of Intelligent Compliance Automation

Gain transparency about your contractual partners

  • Identification of contractual partners
    Current data from official registers is aggregated on an intuitive interface. Extracts from the commercial register can also be retrieved with a single click. This is done via an individually definable query of current databases with more than 650,000 person and organization profiles.
  • Extraction of the corporate body structure
    Our solution identifies all function holders of the contractual partner fully automatically on the basis of up-to-date sources and presents them clearly.

  • Structure of interlocking structures
    Interactive diagrams allow you to view ownership and control structures as well as beneficial owners.
  • Checking PEP, sanctions and embargo lists
    The system supports flexible, event-related individual checks or recurring automated checks of the entire or partial inventory of contractual partners using certified algorithms. The obligated party can freely configure which lists are to be used as well as the search strategy and comparison parameters used.

  • KYC module for processing anomalies
    The system generates audit notifications in the event of anomalies in relation to the solution's automated compliance check. It offers convenient processing of the hit list, including verification, uploading documents and automatically sending messages.

  • Checking risk factors
    In addition to checking the regulatory requirements, further risk factors such as sector or year of foundation can be checked.

  • Legitimation
    If legitimation of specific business partners is required for the final check, this can be carried out easily and intuitively via the solution using a variety of supported procedures (Video-Ident, Bank-Ident, Auto-Ident, ID-Ident).

  • Documentation of the KYC file
    All information is clearly prepared in a KYC file, which can also be exported. In this way, you fulfill the record-keeping obligation as defined by the GWG.

Benefits

Convenient care

Search strategy, comparison parameters and hit probability can be administered online via a common interface.

Full flexibility

The solution enables both event-oriented individual case checks in the event of specific suspicious circumstances and regular identity checks of the entire or partial inventory in purchasing, sales, accounting or human resources.

Complete legal certainty

Precise compliance with the legally required identity checks and legally compliant documentation provide greater legal certainty and certainty of action.

More efficiency

The streamlining and digitalization of processes lead to more efficient workflows.

Simple integration

The service-oriented architecture and standardized interfaces facilitate integration into existing application landscapes.

Philipp Oberleitner
Managing Director Sales & Marketing

Patrick Scharwenka
Chief Product Officer

Dr. Lars Rüsberg
Sales Manager

Philipp Oberleitner
Philipp Oberleitner
Managing Director Sales & Marketing

Patrick Scharwenka
Patrick Scharwenka
Chief Product Officer

Dr. Lars Rüsberg
Dr. Lars Rüsberg
Sales Manager

NAVAX Software GmbH will never sell, market or disclose personal information to third parties.
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Solution Paper

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Case Study

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