Fintech company Armalytix has launched a new set of tools, called Income and Risk Insights, to help financial services firms understand clients’ income and streamline their risk management processes. The tools will also help firms meet increasing regulatory pressure around anti-money laundering (AML), financial risk and affordability checks.
Facts
- Income and Risk Insights allow firms to break down and understand clients’ income and set their own risk parameters to flag any risky matters early.
- Income Insights presents transactional data reflecting clients’ salaries and other income streams in a simple visual format.
- Risk Insights allows firms to automatically flag any risky matters early and provides a clear, digital audit trail.
- The tools help firms meet increasing regulatory pressure around AML, financial risk, and affordability checks, including the new “failure to prevent fraud” offence.
- Armalytix’s solutions ensure the costs of compliance are lower than the financial and reputational risks.
- Firms also receive up-to-date financial data, market-leading analysis, and questionnaires to obtain additional evidence and answers.
- Clients already using the tools include Chadwick Lawrence, Woodford Stauffer, and Sail Legal.
