FREE global watch list validations, compliance task lists and ID document attachments. e2eFX can help you build a more robust compliance regime.
Compliance is a key factor for all FX businesses. Espcially in maintaning relationships with liquidity providers lie the banks. Have you got the right documentation? How can you monitor and control country and currency risks? e2eFX gives you the tools to make sure the proper compliance tasks are in place even while dealers input a deal. Customers, beneficiaries and even FX deals are automatically checked against global watch lists (OFAC, OFSI, European Union, HM Treasury). Back office personnel can perform additional checks and audits if required right before releasing a deal.
Upload and attached compliance documents to your customer and beneficiary profiles. Colour coded risk alerts identify your risk leveles and exposure with every deal.
e2eFX gives you the ability to upload compliance documents to customer and beneficiary profiles. Set up risk scores that are viewable by dealers and back office personnel and let them know if a deal is too risky to complete or should be reported to compliance for further review. e2eFX gives you an easy way to protect your business, manage your risk and enforce your compliant regime with all your transactions.
Automated risk scoring means you don't need to manually review every deal to see if it matches your risk levels.
Quick look - Our colour coded risk scoring module evaluates every deal and beneficiary against your customized scoring rules. You maintain full control on deals that are deemed to risky to go follow through on.
Features you need to maintain compliance standards as well as report on for your compliance audits.
- New Set configurable risk scores for currencies, countries, beneficiaries and customers
- New Free daily updates to Global Watch Lists (OFAC, OFSI, European Union, HM Treasury)
- New Overnight validations: Every night e2eFX compares the latest updates with with the entire database of customers and beneficiaries. This process will inactivate accounts that are flagged as matches and notifications are sent to compliance staff for further review.
- Audit trails: Internal and external compliance audits include the proof that procedures are followed. With this feature, auditors can verify ALL the searches and results for each entity like customers and beneficiaries.
- Set alerts & deadlines for mandatory or optional compliance tasks like document gathering that must be done before the customer can trade. Alerts are viewed by both traders and compliance staff. Warning alerts will appear on the dealers trade screen the next time the customer wants to book a deal.
- Flexible reminder tasks define your compliance tasks that are required depending on the customer types, like corporate, personal, affiliates, etc.
- Attach compliance documents to customers and beneficiary records
- Set the level of importance (weight) for each risk factor like currency, country, customer-beneficiary relation, etc.
- Calculated risk scores for dependent entities. For example, a deal's risk is based on the customer, beneficiary, currencies etc.
- Beneficiaries tasks: Similarly to customers, tasks can be defined for beneficiaries. Beneficiaries are, most of the time, the highest risk element in a deal. Reduce your risk.
- Authorized users can accept deals rejected due to their risk value leaving all proper audit trails.
- Search for suspicious deals and flag if they should be reported to FINTRAC.
- Compliance officers can override default risk settings by customer or deal when required
e2eFX streamlines your compliance tasks, check Global Watch Lists, lets you set risk scores, upload compliance documentation with customer profiles and notify dealers of compliance issues.
FX business note - With e2eFX's integrated compliance and audit trails you can turn a lengthy compliance audit into a simple and quick exercise. Our Audit trails give you an invaluable portal to let you prove what results you got on what days and the notes about the actions you took.