mPASS™ Suitability and Appropriateness Checks

mPASS™ instantly answers the following question for the financial institution:

 “Can we offer this client product X with service Y in country Z?”

Muinmos mPASS

mPASS™

For Full Product and Services Cross Border Clearances, With Instant Suitability and Appropriateness Checks

mPASS™ -  the core module in Muinmos’ Regulatory Onboarding Engine –  is a unique, algorithmic AI-based product that enables financial institutions to categorise their clients correctly and instantly in accordance with the relevant legislation for differing jurisdictions.

mPASS™ keeps up to date with regulatory changes during the client’s lifecycle, ensuring that the financial products and services offered by financial institutions to their clients are suitable and/or appropriate for them, highlighting any cross-border restrictions and financial product limitations.

Discover how Muinmos' Regulatory Onboarding Engine helped a Global Financial Institution Onboard Its Clients in Less Than 3 Minutes

mPASS™  provides vital investor protection for clients and protects the financial institution from regulatory fines, reversals of trades and inadvertent mis-selling.

Instantly and globally validates whether a financial institution can onboard a client to trade with it in a particular service/product/country – including MiFID II client onboarding regulations.

Fast and accurate Suitability and Appropriateness checks including adherence to MiFID II client onboarding regulations.

Automatically updates regulatory changes to ensure ongoing compliance across multiple jurisdictions.

Increases new business opportunities by identifying which products and services you can sell to which clients and in which jurisdictions.

Cloud-based SaaS product, with quick and easy integration.

To Request a Demo of mPASS™

mPASS ™ FAQs

1. How does mPASS™ work?

Muinmos’ Regulatory Onboarding Engine maps thousands of regulatory parameters, legislation, permissions, rules and guidelines from around the world such as MiFID II client onboarding regulations. This enables us to deliver instant compliance results globally, with accurate Suitability and Appropriateness assessment, ensuring that financial institutions remain compliant throughout the client’s lifecycle, even as the regulations change.

We use algorithmic rule-based Artificial Intelligence (AI),  Machine Learning (ML) and Neural Nets to instantly and globally validate whether a financial institution can onboard a client to trade with it in a particular service, financial product and country.

2. Which jurisdictions and directives are covered within your product?

We have almost global coverage and connectivity to many regulators.

3. Why is client categorisation so key?

It is absolutely critical to categorise clients correctly from the outset in order to know which products and services to sell to them, to protect both the financial institution and the client, and to avoid significant fines for regulatory breaches.

4. Are the Suitability and Appropriateness checks linked to client categorisation?

Client categorisation has a huge impact on Suitability and Appropriateness assessments. Getting the categorisation wrong will impact the regulatory assessments which are triggered by the legislative framework based on the category of the client.

If the categorisation is wrong, the entire flow is wrong too, and the assessment of whether to enable the client to trade a financial product in a particular financial service in a given country will also be wrong, leaving the financial institution at risk of mis-selling and the client potentially without any regulatory protection.

Muinmos’ award-winning Regulatory Onboarding Engine delivers instant compliance results globally

Client Categorisation / Suitability and Appropriateness / Cross Border / Third Country / KYC & AML Clearances

In addition to mPASS™ Muinmos provides flexibility and choice to clients with two additional distinct and secure cloud-based modules, mCHECK™ (AML/KYC platform) and mRX™ (risk scoring module).

mPASS™ instantly validates your clients, from the onboarding stage and throughout their lifecycle with your financial institution, and covers key regulatory and legislative frameworks including MiFID II