Law firms, accountancy firms and financial corporations are required to conduct risk assessments, client due diligence (CDD) and ongoing monitoring on their clients. The precise processes for CDD and risk assessments are often complex and vary greatly, depending on industry and jurisdiction. Organisations using static forms to onboard clients can often struggle to implement systems which adequately incorporate all the interconnected requirements of these two vital AML components.
Omnitrack's AML solution enhances both the risk assessment and document collection aspects of client onboarding. Our template workflows adapt to the specific risks posed by each client, based on factors such as jurisdiction, type of entity and industry. This allows you to make informed choices about each client using the risk-based approach. Our comprehensive workflows incorporate industry-specific guidance such as JMLSG for FCA-regulated firms and LSAG for law firms. The flexibility of Omnitrack lets you choose the default workflow most appropriate to your business. The workflow can be customised to suit your own areas of practice and risk scoring system. Our team will guide you through every step of the process.
Enter all client details or extract relevant information via API.
Conditional logic ensures questions vary based on factors such as client entity, jurisdiction of incorporation and industry.
To assign a risk level to each client, users are alerted to any flags and are guided by industry-specific guidance.
Admins can approve or deny new clients, send requests for more information, and undertake periodic reviews.