AML Client Due Diligence and Data Processing Outsourcing

Cost saving Business Process Outsourcing (BPO) for financial institutions

Professionals on Swiss and European Union AML/CFT requirements and best practicies

Effective data entry and analysis with timeless reaction to business unit requests

Highest data protection standards and bank-level IT security

Introduction
New way of Conducting
Business
Goats

Not so long ago, the idea of allowing compliance employees of Swiss & EU financial institutions to work from home, would send shivers down the spine.

COVID-19 has significantly impacted the entire global economy and shaped the way organizations work nowadays. Financial services firms, in order to survive, must have adopted working from home models which has been an eye-opener on the massive spending cuts on office space and infrastructure to counter the economic crisis. It is not a surprise that the majority of the financial players see back office roles to continue working remotely and consider moving them to more attractive locations.

 

Outsourcing services abroad is not a new concept but a verified hybrid business model that reduces turnaround time, increases efficiency, cuts costs and eventually generates profit.

Today, outsourcing client due diligence processes are allowed as long as the financial institutions follow the regulations and standards applicable to their specific structures.

Data protection at a glance
Swiss and EU regulations on Data Protection at a Glance

Given that the outsourcing services would include the transfer of restricted data between Switzerland or European Union Member State and Poland, the laws and regulations must be considered from an EU and Swiss perspective.

In Switzerland the data protection is regulated by the Federal Act on Data Protection (DPA) and its corresponding ordinances with cantonal rules. The processing of personal data may be assigned to third parties as long as the data is processed in the manner permitted by the instructing party and to jurisdictions that have adequate data protection laws in place (includes Poland). It is a business mechanism used by the companies in Switzerland exporting the data to a third countries in EU to obtain a consent from the data subject on the data transfer and implement contractual safeguards with the processor, followed by the notification about the processing to the Federal Data Protection and Information Commissioner (FCPIC). 

Data protection and privacy laws in the EU and outside European Economic Area (EEA) are mainly set by the General Data Protection Regulation (GDPR). Even if the establishment of the financial institution is outside EEA (Switzerland), the movement of data might include data subjects who are in the Union (citizens, residents), hence the data movement between Switzerland and Poland would fall under GDPR (targeting criterion art 3(2).1 It is not the GDPR’s intention to prohibit the free movement of personal data within the Union and outside EEA, but to legitimize and rationalize standards governing proper data protection. As it is viewed from the Swiss perspective, GDPR allows lawful data flow as long as the collaboration with the processor is properly documented by means of outsourcing contract and a representative in the Union is designated to safeguard the data.

Services
Customer Screening
Know-Your-Customer
Transactional Activity
Data Entry Processing
Basic Financial Analysis
Research and Statistical Analytics
Benefits
Cost Saving Team Leasing

As a team leasing audit-transparent outsourcing firm, we take care of your fixed repetitive, manual and operational compliance activities to let you focus on strengthening your core business objectives.
Our asset is our location. In Poland, average monthly salary is almost 70% lower than in Western Europe countries, allowing you to significantly reduce your company's fixed costs but at the same time keeping your compliance department close within the same time-zone.
Our outsourcing contracts are ready-to-adjust and are carefully prepared by lawyers, experienced in BPO/SSC sector.

IT Security and Data Protection

We integrate with your business unit IT system. Your company is the sole admin of the data. We follow not only our own strict internal IT security and privacy information policies but also apply yours. Our company keeps controls in place prohibiting saving the data on the computer hardware, printing any documents out and using social media applications.
In order to evidence the work delivered, we use a dedicated system that captures only the number of working hours and type of tasks we complete, without using any sensitive data. The collaboration is secured, monitored, quantified and controlled at all times.
Alternatively, we are able to provide the outsourced services through our information security platform.

Experienced Professionals

We bring together experts to make sure you feel your back-office services are at good hands. The project managers have a customized and unique operational experience and regulatory knowledge last but not least in AML, CDD, KYC, FC, QA and MIS mastered in the financial institutions based in Switzerland such as: JP Morgan (Suisse) SA, Barclays Bank (Suisse) SA, Deutsche Bank (Suisse) SA and Edmond de Rothschild (Suisse) SA. Our pro-active approach, transparent communication and knowledge of your business, its corporate culture and Swiss & EU regulatory expectations are available for you at your table.

Individually Calculated Fee

We deliver holistic service or single project assistance. Let us help you decide how many people you need for specific project to meet required deadlines or buy-in all human resources of our organization for specific period of time. Verify if SLAs and KPIs meet your requirements. We are open for negotiations as long as we can build our collaboration on trust and crystal-clear arrangement.

Our mission and values
Accountability

We believe that the pillar of the outsourcing is a customer trust. Brand name, reputation and consumer trust are at stake when the business does not ensure it is compliant with regulations that includes privacy program framework, cross-border rules and contractual safeguards.
We do not take any risk in engaging in the business that we are not able to adequately protect and deliver.

Awareness

We are proud to have in our professional experience corporate culture insight that have imprinted the core value in the way we conduct the business. Awareness is a baseline for daily duties we perform. „If people are not aware of what they are processing, they are also unaware of the consequences and liabilities that result from not knowing."

Our mission is to constantly train people on the awareness of the sensitive tasks they are entrusted to complete. With tone from the top, we hold employees accountable for following internal policies and procedures that make the organization integrated engine with clearly defined mission and values.