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News

Legal RM gains sanction screening from dn:director

Datanomic : 09 July, 2008  (Application Story)
Anti money laundering measures now in place with risk management and compliance experts, Legal RM
Anti-Money laundering specialists, Datanomic has signed a Partnership Agreement with Risk Management and compliance specialists, Legal RM, to provide its dn:Director Sanctions/PEP Screening Solution to the legal sector in the UK, Europe and Australasia. Legal RM is already accredited in Datanomic's solutions, and will be providing the dn:Director Sanctions/PEP Screening Solution, in addition to our data quality suite, to legal firms for both anti-money laundering compliance, as well as an automated means of identifying conflicts of interest.

Legal RM specialises in providing business and technical consultancy, products and services around all aspects of Risk Management and compliance in professional services and law firms. In particular, Legal RM provides expertise around Anti-Money Laundering, Conflicts of Interest, Information Barriers, and Physical and Electronic Records Management.'

"Datanomic's dn:Director Sanctions/PEP Screening Solution provides an excellent anti-money laundering solution, as well as a convenient and automated means of identifying potential conflicts of interest for lawyers," said Christopher Giles, Managing Director of Legal RM. "In particular, Datanomic allows organisations to audit, cleanse and analyse data from internal systems as well as external sources. In today's legislative environment law firms require sophisticated tools to seamlessly screen their clients. We were very impressed with Datanomic's ability to integrate with external data sources alongside internal applications, such as document management, client relationship management and finance systems. It's ability to adapt to the culture and requirements of each and every firm ensures our clients' risk exposure and reputation are protected, whilst allowing them to take a strategic view during the client onboarding process.'

Dr Jonathan Pell, CEO of Datanomic Ltd, added, "We see enormous potential in our partnership with Legal RM to meet the demand from our increasing domestic and international legal client base. Legal RM brings both industry expertise and technical knowledge, and has over 50 years combined experience working with law firms, processes and people. We look forward to a successful partnership as Datanomic continues to expand its global presence."

Datanomic's Sanctions/PEP Screening solution enables organisations to rigorously and accurately identify heightened risk entities within their customer bases(s). It relieves the burden of manual or semi-automated monitoring of clients by enabling automated client screening in a cost-effective, easy-to-use/easy-to-implement solution designed specifically for compliance.

Inadequate, invalid or incomplete information exposes organisations to both financial and reputational risk. Datanomic facilitates KYC and includes best-practice rules templates for screening clients against a variety of different sanctions and PEP lists, including World-Check, and has worked with leading legal and financial institutions to deliver a highly intelligent automated client screening solution that is designed for ease of use by non-technical users.

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