OrangeCubes

Controlling your client integrity risks

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Controlling your client integrity risks with OrangeCubes

OrangeCubes provides a proven web-based business process management software application to facilitate WTT, WFT and WWFT regulated companies adhere to the mandatory regulations with regard to Client Due Diligence, Transaction Monitoring and managing their client integrity risks (AML/CTF/Sanctions). The web-based (flexible) architecture ensures that your business is ready for a future that will see professionals work more often remotely instead of from the office.

Our flexible web-based architecture allows you to use the application from any pc regardless of the operating system as long as you have an internet connection. Also our mobile app allows users who are not at their computers or visiting clients to follow up on their tasks in a workflow ensuring that company protocols are followed without any delay in the process.

Through OrangeCubes integrated workflow, different parts of your organisation can easily work together and delegate tasks to the responsible officers for approval. This ensures that the Managing Board is always fully in control, limiting their liability exposure.

The OrangeCubes environment creates a verifiable execution trail of CDD and Transaction Monitoring actions in line with today’s legal obligations and business practices.

Solution

Client Due Diligence

  • Client Due Diligence in line with the requirements of the respective legislation through a clear and intuitive user interface.
  • Business process management set-up separates the preparation, inspection and approval tasks with “four eyes” principle.
  • Easy and understandable review feature with integral review and automatic upload of previously stored information resulting in short review times.
  • Simplified, standard or enhanced client research.
  • The option to include company specific policies.

Transaction Monitoring

  • Swift and efficient recording of approval for cash and non-cash transactions fitting the Transaction Profile.
  • Allow maximum control on the transactions while ensuring that obligations under the Sanctions Act (SW) are met.
  • Transaction monitoring compliant with guidelines of supervisory bodies.
  • Separation of tasks enforcing company’s policies.
  • Easy monitoring and audit of Transaction Monitoring through exporting of files with transactions by compliance officers, auditors or managing board members.

Integrity Risk Management

  • Managing integrity risks in client service files via a transparent systematic client research.
  • Efficient and effective risk management, the mitigation of risks and the acceptance thereof.
  • Ease of executing spot checks.
  • A workflow based system with segregation of duties and powers.

Management Tools

  • Client lists with relevant data, (Representatives, Ultimate Beneficial Owners, etc.).
  • Exporting transaction data by compliance officers, auditors or managing board members for analysis of transaction patterns.
  • Audit trail for acceptance, transactions and other processes.
  • Ease of executing spot checks.
  • Possibility of extracting data for further analysis.

Sectors

  • Trust offices in the Netherlands (WTT 2018, WWFT and SW)
  • Investment funds and asset managers (WWFT and SW)
  • Banking institutions and Payment service providers (WFT, WWFT and SW))
  • Crowdfunding platforms (WFT, WWFT and SW)
  • Accounting and audit firms (WWFT and SW)
  • Law firms, notaries and tax advisory firms (WWFT and SW)
  • Real estate agents, real estate valuators and traders in valuable goods (WWFT and SW)

FAQ

If your question is not among what we have answered for you below, you can contact us.

Do I need to download anything to my computer?

No all tasks can be performed via a browser connection (web-based homeworking)

Is implementation of OrangeCubes difficult?

Implementation of OrangeCubes does not require any installation of software. Existing client and relation data is uploaded in the system from spread sheets and pdfs existing client acceptance forms can be uploaded to show the history.

Does the Transaction monitoring in OrangeCubes meet the legal requirements?

The Transaction Profile in OrangeCubes is a pre-set framework of expected transactions, counterparties and bank accounts. This is in line with the guidance of supervisory bodies.

Is it possible to get training?

In order to benefit from all the possibilities of the application, OrangeCubes provides we can supply a remote or on the job training