Compliance Made Simple: KYC, KYB, and AML for Asset Managers

Meet Rachel—an asset manager onboarding a boutique investment fund with international stakeholders. Before she can move forward, Rachel must navigate KYC, KYB, and AML checks to stay compliant. It’s a complex process, and mistakes can mean fines or reputational risk.

Here’s how Rachel’s experience differs when using manual methods versus iComply’s compliance platform.

Step 1: Collecting Client Information

Manual Process: Rachel emails forms, requests documents, and waits for incomplete responses. She sends follow-ups, and the back-and-forth delays onboarding.

With iComply: Rachel sends a secure, custom-branded onboarding link. The platform guides the client through document uploads and verifies everything in real time.

Result: Onboarding is fast and complete—no delays or missing data.

Step 2: Verifying Ownership

For corporate clients, KYB compliance requires identifying all beneficial owners with 25% or more ownership.

Manual Process: Rachel searches public records, cross-references shareholder lists, and struggles with foreign registries.

With iComply: The system pulls corporate filings and ownership details globally in seconds, even revealing hidden layers like trusts or holding companies.

Result: Rachel gets an audit-ready overview of the business structure without manual digging.

Step 3: AML Screening

AML regulations require checking clients and stakeholders against sanctions, PEPs, and adverse media lists.

Manual Process: Rachel manually inputs names into multiple databases and spends hours reviewing false positives.

With iComply: The platform screens individuals automatically and filters out irrelevant matches, flagging only genuine risks.

Result: Fewer false positives, faster resolutions, and more focus on real risks.

Step 4: Recordkeeping and Reporting

Compliance regulations require asset managers to store records securely and generate detailed reports during audits.

Manual Process: Rachel stores files in multiple folders and scrambles to compile audit reports from spreadsheets and emails.

With iComply: Every action is logged automatically. Rachel generates a detailed, audit-ready report with one click.

Result: Audit prep takes minutes, not hours.

A Tale of Two Experiences

In the manual workflow, onboarding takes days or weeks, frustrating clients and draining team resources. With iComply, onboarding is seamless—clients appreciate the professional experience, and Rachel’s team focuses on client relationships instead of admin work.

Key Compliance Considerations for Asset Managers

1. Complete Due Diligence: Collect and verify customer information thoroughly.
2. Ongoing AML Screening: Continuously monitor for sanctions, PEPs, and adverse media.
3. Ownership Transparency: Identify beneficial owners, especially in complex structures.
4. Data Security: Store sensitive information securely and comply with regulations like GDPR.
5. Audit Readiness: Keep comprehensive records and generate reports easily.

Why iComply?

With iComply, Rachel cut onboarding time, reduced manual work, and stayed audit-ready with end-to-end encryption and automated reporting. Compliance became a competitive advantage—not a burden.

Is your compliance workflow helping or holding you back? Let iComply simplify KYC, KYB, and AML so you can focus on growing your clients’ wealth. Let’s get started.