OneVue has launched an anti-money laundering product to help financial businesses protect themselves and reduce costs.
Connie McKeage, the chief executive of OneVue, said financial planners must meet their obligations under anti-money laundering legislation (AML) simply and effectively.
We believe [the] AML Explorer [product] represents a breakthrough in helping financial service businesses of all sizes to comply with AML legislation,” McKeage said.
The AML Explorer product presents compliance obligations in an easy to read format that enables users to identify problems quickly. It can also process phonetically-matching names against government supplied lists of politically exposed people and sanctioned organisations, at a speed of one million names per second. It can be integrated into most financial administration systems.
AML Explorer can be installed as an application or via the web. OneVue also offers a consultancy service to help clients set up and integrate the product.
Australian Unity Investments and OneVue’s subsidiary, DirectPortfolio, have already adopted the product.
OneVue is developing the product to submit applications electronically to the Australian Transaction Reports and Analysis Centre.
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