GRC Institute has partnered with AML Accelerate to implement its AML/CFT compliance platform for conducting money laundering and terrorism financing risk assessments.
The partnership will allow the GRC Institute’s 2,000+ members across the Asia-Pacific region, to have access to the platform, which accelerates the AML/CFT compliance efforts of their employers or clients.
Naomi Burley, managing director at GRC Institute, said, “The GRC Institute is very pleased to be working with AML Accelerate, whose founders are expert practitioners in anti-money laundering compliance and who identified early on, the pain point for other practitioners in performing AML risk assessments.
“They have leveraged their domain expertise to develop an easy-to-use platform that translates, what is a complex challenge for many organisations in identifying, assessing, mitigating and managing risks, into an affordable platform that is cost-effective for all organisations, regardless of their size, sector or geographic location.”
Established in 1996, GRC Institute’s aim is to ‘professionalise compliance’ by running a member association for compliance and risk management professionals. The company provides education, professional accreditation, working parties and committees and runs events across Australia, Hong Kong and New Zealand.
With the increase in compliance requirements worldwide by governments and regulators, AML Accelerate has made it their mission to create a platform which helps organisations accelerate their compliance efforts.
The RegTech provides money laundering and terrorism financing risk assessments tailored to over 30 financial and non-financial industry sectors. The company has been designed to help organisations of all sizes across different industry sectors and geographies to meet their AML compliance requirements, with the aim of saving customers time and money.
Earlier this year, LexisNexis, a provider of legal, regulatory and business information, partnered with AML Accelerate to enable its customers to comply with AML/CFT compliance obligations.
In a recent interview with RegTech Analyst, Anthony Quinn, co-founder of AML Accelerate, said the regulatory environment is creating the perfect storm for RegTech to ‘come out of the cold’.
“After a long time in the cold RegTech is recognised as being a way of effectively managing risk exposures and addressing the need for transparency in actions organisations are taking to address risk and compliance matters,” he said.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
