Regcheq provides software for automating anti-money laundering compliance through risk assessments and transaction monitoring, ensuring adherence to UAF and economic crime regulations. The platform enhances operational transparency and minimizes the risk of financial penalties by streamlining KYC processes and managing supplier and client risks.
Funding
$3.6M raised to dateRaised 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
Many organizations struggle to efficiently manage and automate their anti-money laundering (AML) compliance processes, particularly regarding risk assessments, Know Your Customer (KYC) procedures, and transaction monitoring. This can lead to increased operational costs, potential regulatory fines, and difficulty in adhering to regulations such as those set forth by the Unidad de Análisis Financiero (UAF) and economic crime laws.
Solution
Regcheq provides a centralized compliance platform designed to automate and streamline regulatory compliance, specifically for AML and economic crime prevention. The platform automates the entire regulatory compliance cycle, from KYC and list screening to automated form submission. It also facilitates risk management by identifying and managing risks associated with suppliers, collaborators, and clients, while also offering features such as conflict-of-interest management and a regulatory-compliant whistleblowing channel. Regcheq's solutions extend to compliance with Law 19.913 and Laws 20.393 and 21.595, offering tools to manage potential conflicts of interest and integrate a whistleblowing channel as required by regulations.
Target Audience
Regcheq targets companies and organizations that are obligated to comply with AML regulations, economic crime laws, and other regulatory compliance requirements, including those in Chile, Brazil, and Mexico.
Features
- Automated KYC (Know Your Customer) and customer due diligence processes
- Sanctions list screening and monitoring
- Automated form submission for regulatory reporting
- Risk assessment and management tools for suppliers, collaborators, and clients
- Conflict of interest management
- Integrated whistleblowing channel for regulatory compliance
- Commercial and credit risk reports for collaborators, suppliers, and clients
- Compliance with UAF regulations and economic crime laws
- AI-powered features for compliance with new economic crime laws