Customer Case

K.A. Rasmussen - consolidated AML processes: increased efficiency, reduced risk

Streamlined processes and data consolidation empower K.A. Rasmussen's AML efforts. Unified approach enhances efficiency and risk mitigation

For several years, K.A. Rasmussen, a Norwegian company specializing in the manufacturing and purchase of precious metals, has relied on Verified's services for various signing workflows. Initially, the services were primarily utilized for personnel matters, handling agreements and documents requiring secure signatures and identification.

Approximately a year ago, discussions began to expand Verified's services to encompass anti-money laundering (AML) compliance:

"We were heavily involved in driving the project to adapt KYC forms and other processes within the system to align with our internal workflow,"

explains Anita Jørandrud Sveen, HR Manager at K.A. Rasmussen.

Before adopting Verified's AML solutions, K.A. Rasmussen employed a self-built system. However, implementing updates and modifications proved time-consuming and often required prioritization for development.

"Now, we can make most enhancements directly within the interface, saving time for those configuring the portal and ensuring that our improvements reach the organization and customer-facing users promptly,"

says Mette Pedersen, Quality Manager at K.A. Rasmussen.

Anita Jørandrud Sveen, HR Manager (left) & Mette Pedersen, Quality Manager (right).

Previously, K.A. Rasmussen conducted PEP and sanctions checks through a separate service and then manually transferred the information to the system handling the rest of the AML workflow.

"Now, we can initiate onboarding, generate KYC forms for signing, identify key personnel, and perform PEP and sanctions checks in a single, streamlined flow. Additionally, we can tailor the frequency of these checks based on the customer risk level we've assigned to each customer/supplier relationship,"

explains Anita Jørandrud Sveen.

Headquartered in Norway, K.A. Rasmussen maintains operations in Sweden, Finland, and across Europe, utilizing Verified's services throughout the Nordic region.

"We've saved significant time across all our markets, and the consolidated process, where everything is done and documented in one system, is invaluable in providing us with a clear overview and understanding of potential risks within our customer portfolio,"

states Mette Pedersen.

In addition to the 15-20 employees who regularly use Verified's services, a public onboarding workflow is also set up on their site. Customers wishing to sell their metals to K.A. Rasmussen can self-fill in their details and initiate a business relationship.

"The website form reduces our administrative burden. We ensure that we collect the correct information and data about the new supplier while simultaneously performing the necessary checks to initiate our collaboration. Everything is consolidated and documented within the AML portal,"

finishes Anita Jørandrud Sveen.

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