Company Monitoring
Automated Continuous Company Monitoring
By using the Oomero API (or SaaS) solution you will be able to continuously monitor each company after you have onboarded them. Any change to the company structure, shareholding, directors or beneficial owners and much
more will be notified to you as it is updated.
Our solution allows you to check on companies both local and global all from
one place and simultaneously ensure that all Director and Beneficial Owners information is also available.
The result is:
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Better understanding of your customer
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Continuous Credit Score (this is normally updated once every 1-2 months)
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Reduced business risk
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Reduced reputational risk
Why do you need to do continuous monitoring of your customers?
The new compliance updates in the 4th Money Laundering Directive (MLD) and the 5th MLD, which will come into force in 1st January 2020, both mandate that you continuously monitor your customers for any changes
to their company or any status changes.
Customers rarely remain the same. Companies change their factual position as they can become bankrupt, insolvent, receive investment or even be bought out. Our solution helps you tackle these changes as they happen and often before you know they have occurred. Even though you have done all the KYB checks on your customer and the KYC/AML checks
on the individuals and the business you need to ensure the continuous side is maintained as otherwise you could be providing facilities to a bankrupt company or one that no longer exists putting you at serious risk and increasing your exposure.
Oomero will be able to tell you who the new directors or beneficial owners as they change, something many of our competitors are unable to do.