Harmoney provides a digital platform that automates financial compliance through customizable risk models, AML screening, and KYC services, ensuring adherence to regulations across various jurisdictions. By streamlining client onboarding and due diligence processes, Harmoney significantly reduces administrative workloads and enhances data accuracy for financial institutions.
Funding
Funding not disclosed
Founders
Product
Problem
Financial institutions face increasing complexity in adhering to diverse regulatory requirements across different jurisdictions. Manual compliance processes are often time-consuming, error-prone, and struggle to keep pace with evolving regulations, leading to increased operational costs and potential compliance breaches.
Solution
Harmoney offers a digital platform designed to automate financial compliance processes, ensuring adherence to regulations across various jurisdictions. The platform provides customizable risk models, AML screening, KYC services, and UBO verification to streamline client onboarding and due diligence. By automating data enrichment, client outreach, digital signatures, and continuous risk monitoring, Harmoney reduces administrative workloads and enhances data accuracy. The modular architecture allows users to select and combine functionalities, such as identification and validation, document validation and fraud detection, transaction monitoring, and reporting and analytics, to meet specific compliance needs.
Target Audience
Harmoney primarily serves financial institutions, including banks, investment firms, and insurance companies, seeking to automate and streamline their financial compliance processes.
Features
- Customizable risk models for tailored compliance strategies
- Automated AML, PEP, sanction, embargo, and adverse media screening
- Digital onboarding and KYC remediation for efficient client lifecycle management
- UBO verification and confirmation to identify ultimate beneficial owners
- Document validation and fraud detection to ensure data integrity
- Comprehensive risk scoring engine for accurate risk assessment
- Case management and continuous risk monitoring for ongoing compliance
- Transaction monitoring to detect suspicious activities
- Reporting and analytics for compliance oversight and insights
- Client outreach module for seamless communication and data collection
- Digital signing capabilities for secure document execution
- Solution bundles for Counterparty Risk Management, Contract Risk Management, KYC/KYB, and End-to-End Compliance