Exiger Case Studies Global Mobile Payment Services Company Streamlines AML Compliance with IoT

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	Global Mobile Payment Services Company Streamlines AML Compliance with IoT Exiger

Global Mobile Payment Services Company Streamlines AML Compliance with IoT

Exiger

Technology Category	Networks & Connectivity - NFC Robots - Wheeled Robots
Applicable Industries	E-Commerce
Use Cases	Regulatory Compliance Monitoring
Challenge	The parent company of multiple in-country mobile payment services providers was facing a significant challenge. They needed to align the local market regulatory expectations and in-country operations with global Anti-Money Laundering (AML) program standards and operating requirements. This was a complex task due to the varying regulations and standards in different countries. The company needed a solution that would not only ensure compliance with these diverse regulations but also streamline their operations to maintain efficiency and effectiveness. Read More
About Customer	The customer in this case study is a global mobile payment services company. This company is the parent of multiple in-country mobile payment services providers. These providers operate in various countries, each with its own set of regulatory expectations and standards. The parent company is responsible for ensuring that all its in-country operations are in compliance with global Anti-Money Laundering (AML) program standards and operating requirements. This is a complex task due to the diverse regulations in different countries. The company needed a solution that would streamline this process and ensure compliance across all its operations. Read More
Solution	Exiger, a global regulatory and financial crime, risk and compliance company, provided the solution. They developed an enterprise-wide AML program framework for the parent company. This framework was designed to align the business controls and AML program operations of the in-country operations with both Group standards and local regulatory expectations. The solution was implemented in a number of in-country operations, ensuring that they were in line with both the Group standards and the regulatory expectations of their respective countries. This comprehensive solution provided a unified approach to AML compliance across the company's global operations. Read More Log in to view content
Contents

Technology Category

Networks & Connectivity - NFC

Robots - Wheeled Robots

Applicable Industries

E-Commerce

Use Cases

Regulatory Compliance Monitoring

Challenge

The parent company of multiple in-country mobile payment services providers was facing a significant challenge. They needed to align the local market regulatory expectations and in-country operations with global Anti-Money Laundering (AML) program standards and operating requirements. This was a complex task due to the varying regulations and standards in different countries. The company needed a solution that would not only ensure compliance with these diverse regulations but also streamline their operations to maintain efficiency and effectiveness.

About Customer

The customer in this case study is a global mobile payment services company. This company is the parent of multiple in-country mobile payment services providers. These providers operate in various countries, each with its own set of regulatory expectations and standards. The parent company is responsible for ensuring that all its in-country operations are in compliance with global Anti-Money Laundering (AML) program standards and operating requirements. This is a complex task due to the diverse regulations in different countries. The company needed a solution that would streamline this process and ensure compliance across all its operations.

Solution

Exiger, a global regulatory and financial crime, risk and compliance company, provided the solution. They developed an enterprise-wide AML program framework for the parent company. This framework was designed to align the business controls and AML program operations of the in-country operations with both Group standards and local regulatory expectations. The solution was implemented in a number of in-country operations, ensuring that they were in line with both the Group standards and the regulatory expectations of their respective countries. This comprehensive solution provided a unified approach to AML compliance across the company's global operations.

Impact #1	The implementation of the AML program framework had a significant impact on the parent company and its in-country operations. The parent company was able to represent to key regulatory and law enforcement stakeholders that their in-country operations were aligned with Group standards and the regulatory expectations of the headquarter country. This boosted their credibility and trustworthiness in the eyes of these stakeholders. Meanwhile, the in-country operations were able to present their local regulators with evidence of not only local compliance but also alignment with Group standards. This demonstrated their commitment to regulatory compliance and helped to build trust with local regulators.

Impact #1

The implementation of the AML program framework had a significant impact on the parent company and its in-country operations. The parent company was able to represent to key regulatory and law enforcement stakeholders that their in-country operations were aligned with Group standards and the regulatory expectations of the headquarter country. This boosted their credibility and trustworthiness in the eyes of these stakeholders. Meanwhile, the in-country operations were able to present their local regulators with evidence of not only local compliance but also alignment with Group standards. This demonstrated their commitment to regulatory compliance and helped to build trust with local regulators.

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Overview

Global Mobile Payment Services Company Streamlines AML Compliance with IoT

Operational Impact