Author: ALSEGO (January 14, 2021)
The automatic functionalities of the solution are its key strengths. Not only is the entire reporting process automatic, but also the renewal of signing keys between your financial institution and the CSSF, as well as the obfuscation of production data for test environments. Moreover, the solution has a built-in validator in conjunction with the CSSF validation tool, to make sure that your reports are fully compliant. The solution also manages anonymous account identifiers with CSSF status report enrichment, protecting your sensitive data. Furthermore, recently established accounts that do not have all the require information, e.g. a VAT number, are managed with the help of configurable exclusion protocols. Finally, execution status emails are sent to relevant members of staff when a report is successfully submitted or when a report does not pass the validation phase.
ALSEGO's CSSF 20/747 reporting automation solution is the efficient way to submit your reports to the CSSF's CEDRS. AML reports are automatically generated, validated and submitted, thereby significantly reducing the burden on your organization's compliance team and allowing you to focus on your business operations.