Principles to Streamline, Integrate, and Automate the AML Process

By Justin Lanigan, Managing Director at Lavabox & 123 Online


When The TIC Co came to LavaBox to design, digitise, and streamline their end-to-end Customer Due Diligence (CDD) process, removing friction for customers and employees was at the forefront of their mind.


Getting AML compliance done right and getting it done quickly seem to pull in opposite directions. We were confident that by leveraging a combination of Salesforce CRM technology, digital forms and system integration, we could bring it all together to deliver a better experience for The TIC Co’s customers and employees.


Dalize Van Eden Salesforce Consultant

“TIC Co keeps looking for ways to improve the process. They’re always looking forward. The journey never ends. Every time there’s a legislative, business process or strategic change, the system can be enhanced to reflect it.

This enables their business to rapidly respond so they can continue delivering high levels of efficiency, trust and customer experience, no matter what the future holds."


- Dalize Van Eeden, Senior Salesforce Consultant at LavaBox



The journey we’ve been on with The TIC Co over the last year culminated in the work we’ve done together being awarded the Privacy Trust Mark. It’s a great achievement and also prompted us to reflect on the principles of applying technology to the AML process.


Here, I’ve shared a sequential progression of lessons that apply to the entire AML digital transformation journey. I hope these will help guide other businesses looking to take a digital-first approach to their AML processes:


Define your MVP (minimum viable product): what business processes should be designed first to deliver the most value to customers and employees?


Back the right technology: in our view, a Customer Relationship Management (CRM) platform forms the foundation upon which to build. All customer information, digital forms, databases and business processes should either integrate with, or be built upon this platform.


Work alongside a consulting partner who shares your values: technology alone won’t get you there. Align with a firm that doesn’t simply build what you ask them to. Look for a partner that understands how technology supports your strategy, and can take your ideas and translate them into innovative solutions. At their best, these relationships last for years, so you should enjoy working with them.


Start with security: when you’re dealing with sensitive information, trust is everything. Begin by clearly defining your policies for managing your data and system access. This is especially important if you’re performing AML compliance for multiple clients within a single database.


Leverage the power of digital forms: this enables you to enforce data validation, feed data directly into the CRM and show or hide fields dynamically based on a customer’s selections.


Use automation appropriately: AML compliance often involves highly-repetitive processes blended with human interaction and judgement. Leverage automation to manage mundane tasks, but ensure an appropriate level of oversight from trained analysts.


Integrate: leverage an Integration Platform-as-a-Service to build scalable, stable integrations between multiple systems, for example digital forms, CRM and verification databases. AML compliance is all about bringing data together so analysts can make the right determination.


Open it up in a portal: once you’ve built your processes for employees, empower customers to access their data to submit requests and collaborate with analysts through the process. This creates deeper levels of customer engagement, making it easy for them to understand the status of every aspect of their AML workflow.


Commit to continuous improvement: When any project goes live, it will never quite hit the mark. Ensure frustrations and feedback from employees and customers are translated into a prioritised backlog of system enhancements. Keep working to make the processes smoother, faster and more intuitive.


LavaBox Team Photo

Check out our Privacy Trust Mark awarded AMLOnline Portal to help streamline your AML requirements.


Want some tips to help your AML process? Check out our Resources page or sign up to our monthly ATTIC magazine to stay up to date with all AML/CFT developments.


7 views