Navigating AML Compliance: A Guide to Choosing the Right Digital Provider

Our Member Benefits partner, Amiqus, discuss their new guide which looks at some of the key factors that need to be considered when choosing a reliable compliance partner.

With new developments in guidance around digital identity, sanctions enforcement, and Anti-Money Laundering (AML) compliance, UK firms are operating in an increasingly complex regulatory environment.

These shifts demand agility from firms operating in regulated sectors as they balance the need for efficient operations with strict compliance standards.

Challenges with Traditional AML/KYC Processes

Traditionally, Know Your Customer (KYC) and AML checks have been done manually. This approach relies on in-person client meetings, manual identity verification, and document exchanges over email—methods that can be time-consuming and resource-intensive.

These procedures also increase the risk of compliance errors. Non-compliance, whether due to oversight or insufficient processes, can bring severe penalties and reputational damage to your business.

The Rise of Digital Solutions for Compliance

Digital AML and KYC solutions such as Identity Service Providers (IDSP) offer an alternative by automating many of these processes, enabling faster and more secure client onboarding. However, with a wide array of providers now available, it can be challenging to know where to begin.

Selecting a Solution Tailored to Your Unique Requirements

Our new guide provides a structured approach to selecting the right digital provider. Inside, you’ll find key considerations that go beyond basic functionality, diving into the essential criteria that firms should evaluate.

From usability and integration with your existing systems to accreditation and data security, this guide explores what a robust AML solution should offer.

It also covers scalability, ensuring that the solution you choose today will continue to meet your firm’s needs as regulations evolve and your business grows.

Download the guide and access a comprehensive checklist to make your provider selection process easier.

Click here to get your free copy now.