Why AML compliance needs both technology and expertise

Technology has changed the way businesses manage their Anti Money Laundering (AML) obligations. It's now faster, easier, and more scalable to collect and manage data. AML technology streamlines administration, and makes it easier to keep up with every day compliance tasks.

However, relying on software alone can leave significant gaps when it comes to the bigger picture, such as interpreting legislation, identifying actual risks, applying judgement, and customising processes to fit the way your business runs. When you combine technology with a team of professionals who are proficient with the rules and day-to-day operations of AML compliance, you get the best of both worlds.

The value of technology in AML

Technology provides the foundation for modern AML compliance. With the right systems, you can:

• Keep records secure by storing all Customer Due Diligence (CDD) documents, checks and reports safely in one place.
• Ensure business continuity through staff turnover – grant new staff a login and they can pick up where previous people left off.
• Onboard clients in a number of ways – including in-person, remote or outsourced to a team of CDD specialists.
• Monitor transactions using the built-in risk rating processes that adapts to the information you enter, helping you stay alert to unusual activity.
• Cut down on admin and paperwork – smart tools help automate tasks and reduce double handling.
• Have greater visibility with a dashboard that tracks progress across deals and assurance checks across the team.

By bringing structure and consistency, technology helps businesses keep their AML organised.

Why AML expertise matters

Technology can assist in making AML processes faster, but knowledge and experience guarantee that compliance is done correctly and in the right context. AML regulations need to be understood and interpreted, and your internal policies, procedures, and controls must be revised as the legislation and guidance evolves. That’s where our AML compliance experts come in. We help you navigate the grey areas and gaps, and adjust your processes when the regulations change. Smart tools and skilled specialists on your team can help ensure your AML programme is more effective at managing your risk levels, and is in-line with what the regulators require.

The AMLHUB advantage

AMLHUB was built to support businesses with their AML obligations, with no prior knowledge required. We provide the support and training you need. Our software and app brings structure and oversight to your AML regime, and helps you streamline every stage of meeting your obligations. But compliance isn’t just about having the right tool; it’s also about having the right support. That’s why AMLHUB pairs smart technology with expert services who are there when you need them. That means:

• Full control: you can manage everything in one place from onboarding to transaction monitoring, assurance and reporting.
  
  
• Specialist backup: whenever you need help with your CDD, you can outsource it to our specialist team with a click of a button. Need someone to review your documents? Tap into our team of AML consultants. And when you’re ready for a quality audit (due every three years), you can rely on our CAMS-Audit qualified team, if you are not using our outsourcing and consulting services.
  
  
• Smart compliance: use our digital checks and professional assurance together to take a risk-based approach to all your AML management.
  
  
• Training and guidance: our in-platform training will help your team stay up to date with how they should fulfil their obligations, and AML training requirements.
  
  
• Compliance that lasts: as the regulations evolve, the AMLHUB platform will release features that help you stay on top of new requirements.

AMLHUB guarantees you can achieve quicker results without cutting corners by integrating tools and services.

Staying ahead of change

Compliance isn’t something you do once. Regulations evolve, client behaviour can change, and businesses must grow and adapt to keep up. AMLHUB is designed to grow along with you. We regularly add new features and improvements to our platform, and our expert services are always ready to help you. You will have peace of mind that your compliance is taken care of so you can focus on running your business.

“AMLHUB has made managing our AML obligations so much easier. The platform is clear, organised and easy for our team to use day to day. Their CDD Outsourcing service saves us hours on client onboarding and the consulting support gives us confidence that we’re staying fully compliant. It’s reassuring to have a solution that covers both the admin and the expert advice when we need it.”

- K3 Legal

Your next step in AML compliance: A Whole-of-Business Solution

You don’t have to choose between technology and expert services to be compliant, but combining the two gives you an edge.

AMLHUB offers Compliance as a Service (CaaS) to businesses in New Zealand and Australia, bringing together smart digital tools, and expert services and consulting support. The outcome is faster results, a solution that grows with your business, and assurance that quality will never be compromised.

Find out how AMLHUB delivers a whole-of-business AML compliance solution.

Eilidh Penman

Chief Operating Officer

Eilidh Penman is the Chief Operating Officer at AMLHUB Group, with extensive experience leading high-performing teams and improving operational efficiency. She brings a strategic, people-first approach to enhancing operations and delivering strong, sustainable results.