Iluminai Intelligence
Iluminai is a continuous anti-money laundering compliance tool that automates FINTRAC and provincial requirements for real estate brokers, enabling efficient customer monitoring and suspicious transaction reporting. By reducing manual record-keeping efforts, Iluminai saves brokerages an average of 20 hours per week and approximately $70,000 annually in compliance-related costs.
- Enterprise Software
- Financial Technology
- Software Only
Funding
Raised to date
$180KRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Real estate brokerages face complex and time-consuming FINTRAC and provincial regulatory requirements for anti-money laundering (AML) compliance. Manual processes for customer monitoring, record keeping, and suspicious transaction reporting are prone to errors and create a significant administrative burden. This can lead to potential fines and reputational damage.
Solution
Iluminai offers a continuous AML compliance platform that automates FINTRAC and provincial requirements for real estate brokers. The platform streamlines customer onboarding, ongoing monitoring, and suspicious transaction reporting, reducing the risk of non-compliance. By automating these processes, Iluminai reduces manual record-keeping efforts, freeing up time for brokers to focus on their core business. The system provides risk visualizations and notifications, enabling brokerages to proactively identify and address potential AML risks.
Target Audience
Iluminai targets commercial real estate, residential real estate, and mortgage brokerages subject to FINTRAC and provincial AML regulations.
Features
- Automated customer onboarding and risk assessment
- Continuous customer monitoring for PEPs, sanctions, and adverse media
- Automated suspicious transaction report (STR) filing
- Risk visualizations and notifications
- FINTRAC audit readiness tools
- Compliance manual policies and procedures
- Data quality checks and validation
- Integration with back-office systems (e.g., Lone Wolf, NexOne) for data import
- Custom reports and data exports
- Secure record retention for compliance activities