Funding Knight Case Study

The Challenge

• Confirm the identity of individuals, and check for political links and financial sanctions
• Identify risks and deliver further adverse information where necessary
• Offer comprehensive support on a start-up budget

Our Solution

Our AMLLite and AMLEnhanced check offered Funding Knight a robust approach to countering money laundering risk and cost them nothing to implement. The business only pays for the services that they use, and we are able to introduce further bespoke offerings where required, as the company continues to grow.

Outcomes

The ComplianceAssist approach to pricing made it a perfect fit for a start-up business. As well as gaining access to a comprehensive AML service for no initial outlay, Funding Knight received discounts as their volume of transactions grew to fund more than £18m in loans.

The fully-hosted service, with training and support included, provided them with the benefits of an in-house offering without the associated costs.

As the business grew, Funding Knight were able to make use of the application interface for automated data interchange at no additional charge. When crowd lending began to be regulated in 2014, the company’s rigorous approach was rewarded, leaving them fully prepared to gain their authorisation.