- The anti-money laundering scaleup empowers Flude by taking on the entire AML process and cutting admin time significantly
- Client onboarding process is now fluent and streamlined, with Flude employees feeling more ‘knowledgeable’ with better compliance training
London, UK; 17th January 2023: Property consultant firm Flude now has ‘peace of mind’ against strict HMRC money laundering compliance regulations and has slashed admin time after choosing anti-money laundering tech platform First AML.
Flude, a member of the Commercial Property Network, is based in Sussex and Hampshire and specialises in providing advice to those with commercial property interests. The company found that the anti-money laundering onboarding and compliance process was hugely time-consuming and admin heavy, and needed a solution which removed any grey areas when it came to compliance regulations.
Additionally, the responsibility to carry AML processes lived with the fee earners of the company, who were spending a large amount of their time focused on compliance, as opposed to their primary role of generating income for the firm. Flude implemented First AML as a solution to take on the heavy workload, freeing up time for the entire team.
Lisa Prudente, Business Manager at Flude commented: “We selected First AML as their platform is so simple to use – we only had to give basic information and it takes care of the rest. The team themselves were extremely knowledgeable, so we felt that we were in very safe hands. The solution made the process quicker and more streamlined, while also reducing our margin for error. This provides us with great peace of mind.”
In addition to taking the burden of undertaking AML checks off of Flude’s hands, the team were provided with additional training around compliance. “We all now have a greater understanding of AML processes. The team at First AML spent a lot of time with our administrators and fee earners, passing on their knowledge. The training that First AML has provided has greatly improved engagement from the team at all levels” Lisa continued.
Simon Luke, UK Country Manager at First AML, added: “In the current economic environment, it is vital that companies are able to focus on putting their best foot forward and maximise revenue generation opportunities. With our support, we’re able to ensure Flude is focused entirely on its business goals, removing any concerns they may have regarding compliance. Without the right processes in place, companies are not only at risk of fines, but also of letting dirty money pass through their organisations. Taking steps to avoid this is crucial, and Flude is a great example of a company spearheading this.”