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EDD In Review: Taking A Brief Look at Enhanced Due Diligence

EDD In Review: Taking A Brief Look at Enhanced Due Diligence

by | Apr 27, 2023 | Blog, Events, KYC - Know Your Customer

Are your Enhanced Due Diligence (EDD) protocols up to the task of mitigating risk in an increasingly digital world? With Interpol’s new Global Crime Trend report strongly indicating that money laundering, phishing, and online scams pose a significant risk to businesses and financial institutions, as well as suggesting that fincrime is expected to drastically increase in the coming years, the importance of investing in your EDD processes is more significant than ever.

At iComply, we’re proud to partner with businesses and institutions across North America and Europe to offer comprehensive KYC and EDD solutions you can trust. Backed by powerful technologies like biometrics and edge computing, iComplyKYC gives you access to a robust suite of KYC products that make Customer Due Diligence (CDD) and EDD straightforward, saving you time and money while streamlining your operations.

Below, we’ll take a quick refresher look at some of the basics of Enhanced Due Diligence, why it matters, and the benefits of partnering with iComply for your compliance needs.

What is Enhance Due Diligence?

As the name suggests, EDD refers to a more in-depth level of customer investigation and identity verification conducted during onboarding, as well as on a necessary basis in response to changing risk profiles, world events, a change in known associations, and more. Enhanced Due Diligence serves as an extra layer of protection by enacting increased scrutiny to garner details not typically found using conventional CDD methods.

EDD procedures are more robust than standard CDD assessments and provide highly detailed reporting that can be reviewed on a routine basis for high-risk clients, reporting that can be used to prove “reasonable measures” have been taken to adequately conduct threat assessments.

Why EDD Matters

The value of Enhanced Due Diligence expands well beyond simply staying compliant with KYC and AML protocols. EDD plays a vital role in helping to safeguard the global market against the very real, pervasive threats posed by financial crime, fraud, and other related activities. When implemented properly and routinely reviewed, EDD protocols allow countries and global legislators to strengthen their efforts against humanitarian atrocities like human trafficking, forced labour, terrorist funding, and more.

Simply put, EDD is about more than checking a box to avoid fines; it helps protect vulnerable people against exploitation and threats that would otherwise go unseen.

Spotlight On: earn more about the importance of AML legislation in combatting human trafficking here.

When is Enhanced Due Diligence Necessary?

While Customer Due Diligence (CDD) is considered a standard practice under KYC protocols, EDD may be reserved for higher-risk cases or circumstances where enhanced information is necessary to move forward safely. Key examples that would warrant the need for EDD to be conducted include:

  • When dealing with businesses or third-party entities on the High-Risk Third Countries list
  • Interactions involving companies in sectors with an increased risk for money laundering including gambling, securities, and industries specializing in the transfer of virtual assets
  • Interactions with PEPs or PEP-adjacent individuals (e.g. family members, friends, colleagues, etc.)
  • Deals involving Shell corporations
  • Private and correspondent banking entity deals
  • Interactions with companies that have any known ties to funding terrorist activities or that have been blacklisted

When conducting EDD, organizations must ensure that highly detailed documentation is readily accessible, and that routine reviews are conducted to adequately and continuously assess risk. Failure to comply with either of these measures may result in fines and can expose your business, as well as your customers, to the risks associated with fincrime and other non-ideal circumstances.

Transparency Made Simple

At iComply, we believe that staying compliant with AML and KYC standards, including EDD processes, should be simple. Our world-leading, modular suite of KYC products makes it easy to compile and respond to key customer data, navigate changing legislation, and reduce the cost of fincrime compliance by automating up to 80% of your KYC protocols. iComplyKYC is designed to seamlessly integrate with your existing security framework within a matter of minutes and gives you access to compliance measures in nearly 250 jurisdictions across the globe.

When you need information you can trust and KYC processes designed to tackle the market with ease, iComplyKYC has you covered.

Book a demo with our team today to learn more.

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Is your AML compliance too expensive, time-consuming, or ineffective?

iComply enables financial services providers to reduce costs, risk, and complexity and improve staff capacity, effectiveness, and customer experience.

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Is it Time For a KYC Overhaul?

Is it Time For a KYC Overhaul?

by | Apr 27, 2023 | Blog, Events, KYC - Know Your Customer

Is it Time For a KYC Overhaul?

Are your organization’s processes due for a KYC and regulatory compliance update? If it’s been quite some time since you’ve reviewed your Know Your Customer (KYC) and Anti-Money Laundering (AML) protocols, there is a strong chance you may be at risk for fines and exposing yourself and your customer base to the opportunity for fraudulent or criminal activity.

As one of the most prevalent sources of crime and corruption across the globe, financial fraud exposes the global community to significant dangers, with an estimated 90% of money laundering crimes still going undetected. In 2022, the SEC levied an alarming US$6.4 Billion in fines for non-compliant entities.

With decentralized banking and the exchange of digital assets like cryptocurrencies becoming a growing focal point among regtech entities, it is more important than ever before to stay on top of your KYC practices and streamline your operations through the use of a trusted eKYC platform like iComplyKYC.

Below, we’ll take a look at 4 key signs it’s time your organization should consider making the shift to a more effective eKYC program.

Onboarding Process

One of the biggest (and earliest) signs that you have a KYC problem within your institution is high abandonment rates during the onboarding process. While a certain level of attrition is to be expected, if you seem to be constantly losing users before they fully integrate into your system, this is a sure sign that a closer look is warranted.

Poor AML and KYC processes (more on that shortly) can force prospective clients to wait longer than usual to be fully verified and integrated, and manual reviews can draw the process out even more. The reality for most businesses is that if you keep people waiting, you weaken your chances for retention and cost your business valuable revenue. Implementing an eKYC platform like iComplyKYC greatly reduces these wait times, providing a better customer experience while still maintaining due diligence (CDD).

Ongoing Customer Reviews

KYC and AML protocols are not limited to new clients; in order to better reduce risk and circumvent crime, organizations need to be diligent in their routine reviews and maintenance of customer risk profiles. Recent political events in Europe have served as a valuable reminder that the sudden issuing of global sanctions and other major global events can catch unprepared companies off-guard and significantly hinder security efforts if your organization lacks the ability to pivot as needed with minimal notice.

iComplyKYC helps to combat the challenges associated with manual review by allowing you to set automation that makes it easy to review client risk assessments as needed, whether due to geographical events, routine check-ins, or uncovering previously undetected associations that may lead to the need for Enhanced Due Diligence (EDD) to be conducted.

Better Risk Screening

When screening candidates and prospective clients (or reviewing existing profiles as per above), not all data is equal in its ability to adequately assess and capture risk. iComplyKYC uses the most trusted and legally accessible databases across the globe to ensure accurate results for both automated and manual screening and to reduce the risk of false positives with fuzzy matching and Levenshtein distance algorithms. This means a far better screening process with results you can trust.

Standardized Efficiency

Another major issue facing KYC processes is a lack of standardized practices that often lead to communication breakdowns and sensitive client data being improperly assigned. Implementing an eKYC platform like iComplyKYC removes ambiguity and keeps everyone on the same page, empowering your organization to move forward with confidence and transparency at every level.

Streamline Your KYC with iComply Today

Having streamlined KYC and EDD protocols is essential to retaining customers, as well as staying compliant in an increasingly fast-paced digital world. iComply’s innovative, modular suite of KYC products is designed to make it easy to integrate security measures and identity verification practices into your daily operations, with setup taking a matter of minutes and giving you access to compliant measures in nearly 250 jurisdictions worldwide. iComplyKYC uses edge computing to provide a truly end-to-end experience (let us show you how), and can reduce the cost of running KYC protocols by up to 80% saving you time and money where it matters most.

Book a demo with our team today to learn more about iComplyKYC and how our platform can be tailored to your specific needs and applications.

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Is your AML compliance too expensive, time-consuming, or ineffective?

iComply enables financial services providers to reduce costs, risk, and complexity and improve staff capacity, effectiveness, and customer experience.

Request a demo today.

KYC for Banking – Made Simple with iComply

KYC for Banking – Made Simple with iComply

by | Apr 10, 2023 | Blog, Events, KYC - Know Your Customer

KYC for Banking – Made Simple with iComply

Is your banking institution set up for success and compliance in 2023?

With the financial and digital asset markets experiencing a tumultuous time after the extreme fluctuations faced during the peak of COVID-19, there’s never been a more important time to double down on your Know Your Customer (KYC) and Anti-Money Laundering (AML) protocols to ensure your organization is adequately prepared to face evolving legislation and overcome the risks associated with criminal activity.

2023 is expected to bring an increased focus on the importance of KYC efforts. As a result, banks need to be ready to pivot when needed to avoid being left behind or being found to be non-compliant with jurisdictional standards.

At iComply, we know the value of staying on top of KYC standards and are proud to partner with leaders in the finance, banking, and related securities-focused industries to provide world-leading Know Your Customer (KYC) technology. We know AML and KYC play an integral role in helping to dismantle criminal networks across the globe; our goal is to deliver a modular suite of digital KYC solutions that upholds the latest standards to keep you and your clients safe.

Below, we’ll take a closer look at some of the core basics of KYC practices within the banking industry, and why it’s integral to partner with an automated software provider you know you can trust.

A Strong Foundation: KYC Fundamentals

It comes as little surprise that the banking and financial sectors are a primary target for criminals globally. The staunch increase in financial and cybercrimes has led to them becoming a predominant source of concern amongst global legislators, and financial fraud (e.g. money laundering) remains at the top of Interpol’s list of future crime threats as of 2023 (source listed above).

While the current realities of cybercrime and financial fraud paint a bleak picture, they also impart an invaluable message: now, more than ever before, the global community faces significant and growing risk if institutions choose to ignore security protocols.

To prevent the prevalence and ease with which identity fraud, money laundering, and other white-collar crimes are committed, institutions must adhere to the core standards of KYC protocols which aim to:

  • Establish a verified customer/business identity;
  • Evaluate and accurately assess said identity’s known activities, associations, existing sanctions (where applicable), and other relevant factors; and
  • Develop a vetted risk profile based on the information above, one that allows for Enhanced Due Diligence (EDD) as needed to determine further alignment concerns like known involvement with terrorist funding, illicit activities, and questionable sources of funding.

Implementing electronic KYC (eKYC) technology and software like iComplyKYC simplifies compliance procedures and dramatically reduces the risks associated with onboarding new clients and forming partnerships with unknown third parties. Trusted software platforms like iComply also help reduce internal redundancies and streamline operations by removing the risk of manual errors, allowing your team to focus on other key factors that keep you ahead of the curve when it comes to avoiding criminal activity and fines.

Your Partner in Compliance: iComplyKYC

eKYC platforms like iComplyKYC play an integral role in helping to circumvent the many threats caused by fincrime, and aid banks and financial institutions in moving away from the risks and inefficiencies associated with manual KYC procedures. As we continue to move forward in a world with more digital banking users than ever before, partnering with the right AML and KYC software is essential for success.

iComplyKYC is proud to be a game changer in the world of compliance, offering users a truly end-to-end solution that utilizes edge computing to process sensitive user data directly on the user’s device, instead of leaving it susceptible to risk in the cloud or an unvetted third-party vendor. Our modular suite of programs is designed to be compliant with legislation from nearly 250 jurisdictions across the globe and can help your company reduce overhead, lowering the cost of KYC operations by up to 80%.

Whether you’re hiring, assessing your current customer database, or building the foundation to ramp up your operations for the rest of the year, iComplyKYC offers you unparalleled safety and security in the form of an intelligent, customizable platform that can be set up in minutes.

Don’t believe we’re truly end-to-end? Let us show you.

Chat With Us Today

At iComply, we know that the world of digital securities and compliance moves fast, and staying on top of rules and guidelines can be tricky while managing deadlines, bottom lines, and day-to-day operations. We’ve streamlined iComplyKYC to make it as easy as possible to stay compliant, screen for risks like AML, conduct Enhanced Due Diligence and implement Daily Ongoing Monitoring, all within a single platform.

Book a demo with our team today to learn more about iComplyKYC and how our platform can be used for your specific needs and applications.

learn more

Is your AML compliance too expensive, time-consuming, or ineffective?

iComply enables financial services providers to reduce costs, risk, and complexity and improve staff capacity, effectiveness, and customer experience.

Request a demo today.

How to Spot Fraudulent Users with KYC Protocols

How to Spot Fraudulent Users with KYC Protocols

by | Apr 10, 2023 | Blog, Events, KYC - Know Your Customer

How to Spot Fraudulent Users with KYC Protocols

While we often speak about the many risks and crimes that Know Your Customer (KYC) protocols help to circumvent (the reactive approach), the cybersecurity industry can sometimes forget to highlight the specific ways KYC software and practices offer protection (the proactive approach).

With the number of digital users rapidly expanding globally, knowing how to accurately verify someone’s ID and assess their true risk profile is essential to ensuring compliance and upholding important safety standards set by your local jurisdiction.

2023 has shown that the exchange of digital assets and a more competitive than usual marketplace have driven technological advances further than ever before. Staying on top of evolving trends, while still remembering the core basics of Customer Due Diligence (CDD), are two of the best ways to keep your business as well as your clientele safe from evolving cybercrime, fraudsters, money laundering (AML), and many other types of financial and identity crimes.

Below, we’ll take a closer look at some of the fundamentals of spotting fraudulent users in your database. Read on to learn more

Focus on Specific Areas of KYC Documents

While KYC processes and verification documents are unfortunately unable to provide 100% security against fraud and criminal activity, they do play a valuable role in catching key details that may indicate a higher risk profile and/or uncover problematic associations that allow your organization to act accordingly. When reviewing documents like a passport or driver’s license, it’s important to closely review everything submitted and evaluate data points like:

  • Identification photos,
  • Full name,
  • Date of birth,
  • Expiry date,
  • Document number,
  • Address,
  • and more.

With personal identity documents being one of the most popular commodities on the black market, knowing how to spot inconsistent details is one of your best lines of defense, and having automated solutions in place—such as iComply’s modular suite of KYC programs—helps to remove the risk of human error or oversight.

Cross Reference Materials and Verify Photos

One of the most important parts of KYC is ensuring your verification process doesn’t exist in a vacuum. Using multiple points of reference, including more than one document, and being able to compare passport/ID photos with a live representation of an individual all help to reduce fraudulent users. The more databases you are able to (safely and legally) access to conduct your verification, the stronger your confidence can be with regard to the validity of the identities in your system.

iComplyKYC conducts CDD and EDD using some of the world’s most trusted record bases, giving you access to the information you need to move forward, while still respecting ethical guidelines pertaining to accessing private information.

Triple Check All Information and Little Details

Any information contained in the Machine Readable Zone (MRZ) should clearly match the standardized setup of the document in question. For example, passports should have issuing and expiration dates that match up, font types should align, and any other security details (e.g. reflective strips) should be consistent with all government-issued documents. If any detail seems questionable, the application and/or user should immediately be flagged and escalated for further review.

Manual vs Automated Review

While manual document review may be effective on a small scale, the reality is often inefficient when it comes to keeping up with onboarding, constant re-evaluation, and adjusting to shifting global regulations. Automated software solutions like iComplyKYC help you navigate complicated KYC processes with confidence and ease, allowing you to focus on your business operations while still remaining compliant. Our world-leading end-to-end suite of KYC + KYB software is able to integrate with existing frameworks in a matter of minutes, mitigating headaches and removing the frustration of downtime during adoption.

iComply is proud to partner with businesses across North America and Europe to ensure you have everything you need to stay compliant and ahead of the curve when it comes to circumventing criminal activity through your organization. Learn more about how you can stay ahead of evolving AML and fraud standards, and discover why iComply is your leading choice for software solutions by talking to our team today!

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Is your AML compliance too expensive, time-consuming, or ineffective?

iComply enables financial services providers to reduce costs, risk, and complexity and improve staff capacity, effectiveness, and customer experience.

Request a demo today.

Eye On Compliance in 2023: Top KYC Trends

Eye On Compliance in 2023: Top KYC Trends

by | Apr 3, 2023 | Blog, Events, KYC - Know Your Customer

Eye On Compliance in 2023: Top KYC Trends

As Q2 of 2023 ramps up, the compliance industry continues to face a fast-paced environment of global changes and challenges when implementing protective measures against fraud, money laundering (AML), and other forms of financial crime (FinCrime). 2022 brought no shortage of showcase incidences highlighting the importance of compliance measures; with an estimated 90% of FinCrime activities still going undetected, it’s more important than ever to stay on top of evolving practices and emergent data to build a safer global marketplace for all.

At iComply, we recognize how vital KYC and AML measures are when it comes to circumventing crime and ensuring your business is aligned with all relevant regulations. Below, we’ll take a closer look at some of the most prevalent trends and points of consideration emerging in 2023, as well as why partnering with a trusted software platform like iComplyKYC is one of the best ways to streamline your compliance. Read on to learn more.

Core Takeaways

Before we delve into some of the more specific factors to be aware of in 2023, it is worth noting that the compliance industry as a whole—as well as financial institutions subject to regulation—need to be aware of the following 3 major themes at the forefront of AML and KYC protocols:

  • Adapting to upcoming legislation
  • Embracing proactive strategies
  • Investing in continued education and training

While the uncertainty arising out of COVID-19 led to a brief slowdown in the addition of new regulations and difficulty in amassing concrete statistics with regard to AML and fraud, there is no denying that we have seen a marked increase in fraudulent activity, specifically in cybercrimes. Ransomware, targeted phishing campaigns, evolving digital scams, and other crimes committed through “cyber-enabled” means have risen to the top of Interpol’s risk profile for fraudulent activity. Making sure your organization is aware of and implementing the new recommended standards resulting from these activities is crucial.

In addition to a significant increase in cybercrime, 2023 AML and fraud prevention focal points include:

Addressing New Geopolitical Risks

The ongoing conflict between Ukraine and Russia has highlighted the importance of monitoring sanction lists and maintaining Know Your Customer (KYC) and Enhanced Due Diligence (EDD) protocols that are able to adapt quickly to changing circumstances. International sanctions can lead to an increase in the risk of money laundering, with criminals becoming ever more creative with their methods of circumventing regulations and restrictions; this means financial institutions and digital asset management firms must be hyper-vigilant when it comes to spotting fraudulent or criminal users and dealing with them swiftly and effectively.

Monitoring Digital Assets

As major scandals like the sudden collapse of FTX in late 2022 have reminded us, the growth of digital asset markets like cryptocurrency exchanges has presented unique challenges when it comes to monitoring and accountability. With 2023 ushering in the implementation of regulations like the Financial Action Task Force’s Travel Rule (Recommendation 16), and with the EU poised to approve an upcoming Markets in Crypto-Assets (MiCA) Regulation, businesses and institutions need to be ready to pivot accordingly—especially as more stringent guidelines are being designed to safeguard against digital fraud and other forms of cybercrime that go undetected.

An Increase in “Challenger” Banks and Alternative Payment Companies

The number of alternative payment companies and “challenger” (aka “Neo” / “digital”) banks across the globe have increased significantly in the last few years, and international regulators have grown concerned with ensuring they are subject to the same (if not higher) level of compliance standards. Decentralized banking systems present a high risk for fraudulent activities without the proper measures in place, and such institutions should anticipate the arrival of more legal safeguards that help keep criminals at bay in the coming months and years.

Facing the Challenges of Digital Identities and the Metaverse

COVID-19 accelerated the shift to a more prevalent online global community, with users worldwide adopting digital avatars through venues like Meta and utilizing other services that enable an online persona. While the metaverse remains in its fledging stages, it presents a very real threat and a high potential for money laundering, human trafficking, terrorist and adjacent activities, and other financial crimes as it continues to develop. With these risks already beginning to surface and a precedent already being set due to fraudulent activities on existing platforms, we can likely expect the international regulatory guidelines to implement protective measures and thoroughly analyze any evolving concerns as they make themselves known.

Lay the Foundation for Safety Through Compliance With iComply

At iComply, we’re proud to help financial institutions and companies facing ever-complex compliance guidelines streamline their operations and build a strong foundation of safety. Our modular suite of KYC + KYB software makes it simple for business leaders to stay informed and compliant with the latest AML legislation, and our modular platform can be set up within minutes, alleviating headaches, tedious manual work, and downtime woes.

Learn how you can stay ahead of evolving AML and fraud standards, and discover why iComply is your leading choice for software solutions by talking to our team today.

DISCOVER ICOMPLYKYC

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Is your AML compliance too expensive, time-consuming, or ineffective?

iComply enables financial services providers to reduce costs, risk, and complexity and improve staff capacity, effectiveness, and customer experience.

Request a demo today.

Digital Identities in 2023: Trends and Updates

Digital Identities in 2023: Trends and Updates

by | Apr 3, 2023 | Blog, Events, KYC - Know Your Customer

Digital Identities in 2023: Trends and Updates

With the first months of 2023 already showing uncertainty in both financial and digital markets (re: Silicon Valley Bank and Credit Suisse), business leaders are looking for ways to stay on top of evolving trends and patterns of risks to mitigate the harm caused by money laundering (AML), fraud, and unintentional funding of criminal/terrorist activities (CFT).

As more users adopt digital identities and integrate virtual payment methods, platforms, and practices in their daily lives, global regulators are carefully monitoring trends and actively looking to implement standards that help to circumvent the risks associated with criminal corruption.

Below, we’ll take a closer look at some of the anticipated and notable trends expected in 2023 in the digital universe as online and virtual avenues continue to expand.

Full Speed Ahead

As mentioned above, there are no signs that the creation and usage of digital identities will slow down (quite the opposite, in fact). Digital identity verification has become a pressing issue for regulators as user “personas” become more prevalent in daily matters such as government verification, banking, healthcare, the workforce, and education.

With the identity verification market expected to be worth in excess of US$38.5 Billion by 2033 (source), it should not be a surprise to those in industries adjacent to or directly utilizing ID verification that it is highly likely global regulars and lawmakers will introduce new guidelines that aim to establish a universal understanding and standard of compliance for countries to follow.

The speed with which digital identities are being implemented in innovative ways not only opens the doors for groundbreaking societal and technological advancements but also opens the door to a world of unknown vulnerabilities that place citizens and organizations at risk. Compliance standards and KYC protocols (more on that below), continue to grow in importance as a result, making it essential for businesses and institutions to be ready to pivot as needed.

Did you know: iComply’s unique, modular suite of KYC programs makes it easy to stay compliant with fincrime mandates across the globe and can integrate into your existing frame in minutes?

Data Privacy and Security Concerns

Identity fraud has become one of the most prevalent forms of criminal activity in the digital sphere, causing significant harm to the individuals directly targeted, as well as funding illicit activities with stolen funds and assets. Protection against such crimes is crucial for the privacy and security of your most sensitive client data. In 2023, we expect to see an even more competitive security technologies industry as legislators and manufacturers seek to keep private data safely where it belongs, and out of the hands of nefarious users.

Increased Risk for Fraud

With more users adapting to digital lifestyles at such a rapid pace, inevitable gaps in our current security frameworks could lead to an increased risk for fraud. Ransomware, geo-targeted phishing, and cloud security breaches are expected to increase in 2023, with online banking and electronic transfers being particularly vulnerable. There is also considerable talk—with a growing number of AI advancements entering the spotlight—of concerns that machine learning (ML) could be used to manipulate user likenesses, generate new identity documents that might be harder to debunk upfront and other such issues that come with recent technological advancements. Integrated biometrics and a focus on refining Enhanced Due Diligence (EDD) will be essential to combat these risks.

Digital Asset and Cryptocurrency Exchange Regulation

Cryptocurrency and digital asset exchanges have been under close monitoring over the past several years, and 2023 is poised to implement several watershed regulations to help combat the risks and challenges presented by decentralized banking. In addition to the travel rule, the Markets in Crypto Assets (MiCA) regulation (not anticipated until 2024) puts additional safeguards in place to tie transactions to known persons and give institutions the ability to accurately assess and react to risk in real-time. The Travel Rule and MiCA are most likely the start of a long line of subsequent crypto and digital asset regulations that will continue to evolve—especially as global task forces keep an eye on new issues that come to light over time and as information technology enables new methods to counteract criminal intent proactively.

Stricter Compliance Enforcement

With such prevalent risks arising out of the rapid pace of technological advances and digital user adoption, the time has come for businesses and institutions across the globe to wholly embrace the fact that KYC and AML protocols are far from optional. Failure to comply with existing and future standards carries the threat of hefty fines and can place your client base in significant peril. To avoid the heavy repercussions that come with non-compliance, it is essential to routinely review your processes and protocols and to ensure that you are using the best software available to serve the unique needs of your business.

Stay Ahead of KYC Risks with iComply

At iComply, we know that the costs of non-compliance can be devastating. To help you mitigate risk and stay on top of current legislation, we offer a unique, end-to-end suite of KYC + KYB software that utilizes a modular platform that can be integrated into your workflow seamlessly with minimal downtime.

Learn how you can stay ahead of evolving AML and fraud standards, and discover why iComply is your leading choice for software solutions by talking to our team today!

DISCOVER ICOMPLYKYC

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Is your AML compliance too expensive, time-consuming, or ineffective?

iComply enables financial services providers to reduce costs, risk, and complexity and improve staff capacity, effectiveness, and customer experience.

Request a demo today.

Vaidyanathan Chandrashekhar

Vaidyanathan Chandrashekhar

Advisors

“Chandy,” is a technology and risk expert with executive experience at Boston Consulting Group, Citi, and PwC. With over two decades in financial services, digital transformation, and enterprise risk, he advises iComply on scalable compliance infrastructure for global markets.
Thomas Linder

Thomas Linder

Advisors

Thomas is a global tax and compliance expert with deep specialization in digital assets, blockchain, and tokenization. As a partner at MME Legal | Tax | Compliance, he advises iComply on regulatory strategy, cross-border compliance, and digital finance innovation.
Thomas Hardjono

Thomas Hardjono

Advisors

Thomas is a renowned identity and cybersecurity expert, serving as CTO of Connection Science at MIT. With deep expertise in decentralized identity, zero trust, and secure data exchange, he advises iComply on cutting-edge technology and privacy-first compliance architecture.
Rodney Dobson

Rodney Dobson

Advisors

Rodney is the former President of ADP Canada and international executive with over two decades of leadership in global HR and enterprise technology. He advises iComply with deep expertise in international service delivery, M&A, and scaling high-growth operations across regulated markets.
Praveen Mandal

Praveen Mandal

Advisors

Praveen is a serial entrepreneur and technology innovator, known for leadership roles at Lucent Bell Labs, ChargePoint, and the Stanford Linear Accelerator. He advises iComply on advanced computing, scalable infrastructure, and the intersection of AI, energy, and compliance tech.
Paul Childerhose

Paul Childerhose

Advisors

Paul is a Canadian RegTech leader and founder of Maple Peak Group, with extensive experience in financial services compliance, AML, and digital transformation. He advises iComply on regulatory alignment, operational strategy, and scaling compliance programs in complex markets.
John Engle

John Engle

Advisors

John is a seasoned business executive with senior leadership experience at CIBC, UBS, and Accenture. With deep expertise in investment banking, private equity, and digital transformation, he advises iComply on strategic growth, partnerships, and global market expansion.
Jeff Bandman

Jeff Bandman

Advisors

Jeff is a former CFTC official and globally recognized expert in financial regulation, fintech, and digital assets. As founder of Bandman Advisors, he brings deep insight into regulatory policy, market infrastructure, and innovation to guide iComply’s global compliance strategy.
Greg Pearlman

Greg Pearlman

Advisors

Greg is a seasoned investment banker with over 35 years of experience, including leadership roles at BMO Capital Markets, Morgan Stanley, and Citigroup. Greg brings deep expertise in financial strategy and growth to support iComply's expansion in the RegTech sector.
Deven Sharma

Deven Sharma

Advisors

Deven is the former President of S&P and a globally respected authority in risk, data, and capital markets. With decades of leadership across financial services and tech, he advises iComply on strategic growth, governance, and the future of trusted data in AML compliance.