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Step into the future of regulatory compliance with PASS

PASS is a cloud-based technology using algorithmic rule-based artificial intelligence (AI) to instantly and globally validate whether a financial institution can onboard a client from any part of the world. PASS categorizes clients, conducts suitability and/or appropriateness testing, conducts cross border and third country clearances, and delivers results instantly. PASS can be used as a stand-alone system or integrated into existing systems via API, enabling the automation of workflows with a full audit track. PASS automatically notifies financial institutions of any regulatory changes, ensuring continuous compliance for onboarded clients.

How PASS Works

PASS generates a powerful and intelligent digital assessment that captures and assesses all relevant and necessary facts about the client based on the given regulatory framework; including all applicable regulatory parameters taking into account the client’s knowledge and experience, financial situation and investment objectives. Client’s unique inputs and the relevant regulations (MiFID II, EMIR and as equivalent) of the applicable jurisdiction(s) are automatically analyzed through our regulatory engine in real time to assess all relevant facts about the financial instruments and services offered to instantly categorize clients and test for the suitability and/or appropriateness on a per product, per service, per country basis. Results are shown in a traffic light rating system, with a full detailed breakdown of the results.

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With PASS financial institutions can:

  • Systemize and streamline client onboarding while delivering a compliant, faster and more efficient client onboarding experience
  • Expand business opportunities with compliant client categorizations (e.g. retail clients that can be opted up to professional within the limits of the regulations)
  • Mitigate regulatory risk and reversal of transactions by ensuring clients are categorized correctly and the financial products and services offered are suitable and/or appropriate, thus ensuring investor protection throughout the client lifecycle
  • Facilitate global opportunities with instant cross border and third country clearances
  • Deliver full service offering by testing tri-party relationships where a fund manager/advisor is involved
  • Ensure continuous compliance 24/7 through the PASS regulatory engine

Streamline and systemize client onboarding with the PASS regulatory engine

Streamline and systemize client onboarding with the PASS regulatory engine

PASS Workflow Configurations
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Client Categorizations: PASS enables clients to be correctly and instantly categorized in accordance with the relevant regulations (MiFID II in Europe and as implemented by each member state and as applicable in the rest of the world) by ensuring the required quantitative and qualitative assessments are conducted in accordance with both the domicile of the financial institution and the client.

Suitability and Appropriateness Testing: Client's knowledge and experience, financial situation and investment objectives as applicable are thoroughly assessed, and the suitability and/or appropriateness testing is conducted. PASS automates the mandatory assessments based on type of investment service, the type of financial product involved (complex or non-complex with applicable conditions) and the type of client. It is conducted in an efficient, accurate and client-oriented manner and in compliance with the prevailing regulatory requirements and guidelines. Financial institutions are provided with a full detailed report which includes clearance status and risk score breakdown. Assessments, including scoring and thresholds, which can be customized in accordance with the financial institution’s internal compliance policies and procedures.

Cross Border/Third Country Clearances: PASS enables compliant cross border and third country selling by securing the regulatory clearances of the financial institution’s clients from any part of the world, thus securing the products and services offered are permitted in the relevant jurisdictions at all times.

AML/KYC Checks: PASS conducts all relevant AML/KYC checks including; PEPs, Sanctions, ID verification and adverse media.

Copenhagen Office:

+45 4029 9002

London Office:

+44 (0)74 1491 7380

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