The whole sector is under regulatory pressure with constant new demands from authorities, and potentially significant business consequences, including extra administrative burden. As we know the impact is exponential as stakeholders need not only to assess counterparties but to answer incoming demands too.
The Global Fund Watch (GFW) compliance platform was featured on Euroclear’s Discover Pavilion at SIBOS and attracted major attention. Why? Because it highlighted the absolute and urgent need for all financial counterparties to have in place a fit-for-purpose digital KYC AML solution, one that is both time and cost efficient.
The platform offers a solution that was developed with the business in mind. Fast, easy, user-friendly, compliant and with the highest IT security standards, it has already been tested by 2000+ financial companies. It answers the needs of all players in the financial ecosystem, be they issuers, investors, fund distributors intermediaries, etc.
Like any app, GFW is a digital helper. In this case, it will act as your digital compliance officer, saving resources that can be allocated to non-automated tasks. Many financial institutions are already in on the act as they can easily share their unique questionnaire with business partners on request or answer any additional question or fill documents in a few clicks. The participants receive regular alerts and reminders to keep their profile updated and, in short, have processes that are both digital AND satisfying the most demanding regulatory authorities. Companies can access their counterparties’ information and up to 80 documents directly.
If you want to know more about how an app can help financial counterparties stay compliant in a cost-effective and timely manner, please contact Global Fund Watch. And remember MFEXbyEuroclear offers this service and access to the app to all our clients AND we onboard your counterparties so you just have to "click and collect". Also feel free to watch this webinar for more context on our regulatory landscape and solutions (Maintaining regulatory reform compliance - Euroclear).
