Closing out the year with powerful upgrades to streamline your workflows and enhance compliance. We are excited to introduce two major enhancements to Vestlane’s AML Risk Assessment workflow, making investor onboarding and risk evaluation faster, smarter, and more secure. Let’s dive in! 🎉
New Features 🚀
1️⃣ Automated Name Screening with ComplyAdvantage
Why it’s a game-changer:
By centralizing screening within Vestlane, fund managers can reduce manual overhead, stay ahead of compliance obligations, and safeguard their funds with confidence.
- Assess investors with speed and accuracy: Instantly screen investors and related counterparties against extensive datasets, including sanctions, PEPs, watchlists, adverse media, and enforcement records.
- Focus on real risks: Automate the identification of high-risk investors, enabling your team to prioritize critical cases and allocate resources effectively. High-risk countries and jurisdictions (e.g., FATF, EU) are flagged automatically.
- Stay audit-ready: Align screening parameters with your risk tolerance, document decisions, and maintain readiness for regulatory scrutiny at any time.
On-demand activation:
This feature is currently available upon request. Contact us to activate Automated Name Screening in your organization.
How it works:
- Navigate to Name Screening:
- Access the AML Risk Assessment step within any investor’s subscription to find the Name Screening subsection.
- Review screening results:
- Each investor and related subjects (e.g., legal representatives, managing directors, etc.) is assessed, with results showing:
- No match: No risks detected.
- Potential match: Potential hits with identified risks requiring further review.
- Evaluate flagged cases:
- For potential matches, review the flagged data in detail.
- Mark the case as either:
- True Positive: Confirmed risk, increasing the investor’s risk profile.
- False Positive: Unrelated entity with no impact.
- Document your decision and upload supporting evidence as needed.
2️⃣ Enhanced Risk Assessment Workflow
We’ve upgraded the Customer Due Diligence process to help private equity fund managers streamline the risk assessment of potential investors in collaboration with their trusted advisors.