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Onboarding: AML solutions and more security to speed up time and identity management

25/09/2019

The process is now highly advanced and quite inevitable: companies in all sectors are turning to digital, both in their customer service, in their internal processes, but also in the way they look for new customers.

And when it comes to acquiring new customers, digital has become one of the best places to start. With a special attention to potential fraud and the fixed goal of improving security.

 

AML, Anti Money Laundering ... what is it?

In order to talk about the Onboarding process today, it is also necessary to introduce another topic: the AML, or Anti Money Laundering.

This term (Antiriciclaggio, in italian) means preventive action and the fight against money laundering, money or other benefits in general.

The activity of money laundering consists of investing capital from crime within lawful activities, so as to make their identification difficult.

Through this mechanism, every good that is the result of illicit activity is "cleaned up" by its aura of illegality and reintroduced into the economic circle through perfectly legal outlets.

Over the years, as was to be expected, methods for cleaning up "dirty" money have also evolved, involving more and more subjects implicated in legitimate economic activities, often unaware of the contribution made to criminal operations.

In order to return this money (or other assets) to the legitimate economy, in fact, the involvement of economic operators, financial intermediaries, or professionals in various capacities involved in the same economic circuits is typically necessary.

And it is precisely for this reason that financial institutions, banks, intermediaries, insurance companies and multiple professional categories in the sector are bound to the fulfillment of specific provisions in order to prevent identify and combat these recycling phenomena.

Thanks also to Legislative Decree 231/07, a series of anti-money laundering obligations was introduced into the national system with a specific purpose: to protect the stability and integrity of the economic and financial system.

 

How does the digital onboarding process work and what are its advantages?

Surely, the first advantage of digital Onboarding is that of the total cancellation of distances.

In fact, companies and customers can easily connect, wherever they are, on their favorite digital channels. And the opportunity to offer similar comfort right from the start is crucial.

Ease of use and efficiency are important characteristics and act as incentives for the choice of activity: customers expect and want digital services and automation, running smoothly along the way.

Another fundamental point: time is money. Customers must be given what they want and do it as quickly as possible. In other words: offer them a ready-to-use shopping experience.

The ability to save money in the long term.

There is something extremely true in the phrase "Invest now and save later". By spending money now to make the company competitive in the digital age, it will make the initial cost very useful, advantageous and all this will allow a subsequent saving of resources and, above all, time.

 

The digital Onboarding solution by AliasLab

Our digital Onboarding solutions allow the identification of end users through a simple, intuitive process with the highest level of security and compliance.

Extremely easy integration with existing processes and predefined workflows and high customization make AliasLab Digital Onboarding the best solution to use.

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