Fund Channel, a business-to-business fund distribution platform jointly owned by Amundi and Caceis, on 8 July 2024 that it had enhanced its KYC/AML (know your customer/anti-money laundering) capabilities through a partnership with the Luxembourg-based fintech startup Finologee. This collaboration led to the joint development of a digital onboarding tool, which aimed to complete the oversight services offer.

Finologee’s KYC manager is a compliance platform designed for digital client data and risk management and its integration is expected to streamline and automate the onboarding process, optimise connectivity with end customers, front-office and compliance departments and ensure regulatory adherence through a personalised customer experience.

Regis Veillet, head of business development and executive committee member at Fund Channel, stated, “We are glad to collaborate with Finologee as we are always looking to reinforce our KYC/AML capabilities.” He noted that the integration of KYC manager exemplifies a proactive approach to strengthening the platform’s single-entry point for AML/KYC and distribution due diligence. Veillet mentioned that the aim was to digitalise the service for the benefit of clients and ultimately simplify the process with a secured operational flow.

Jonathan Prince, chief sales officer and co-founder at Finologee, mentioned that Finologee’s KYC manager simplified internal processes and assisted in efficiently meeting regulatory obligations in fund distribution. Prince added that this cooperation enabled Fund Channel to potentially offer a “KYC managed services” in the future.