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Lemonway reduced the time spent managing alerts and false positives.

Sanctions Payments Customer Stories

The Company

Lemonway is a payment solution that specializes in processing payments on behalf of third parties on marketplaces and participatory financing platforms in Europe.

Financial institutions like Lemonway must adapt quickly to increasingly stringent regulatory requirements under the Payment Services Directive 2 (PSD2) and the AML/CTF standards in particular.

Industry: Payments
Products: Screening – Sanctions and Politically Exposed Persons (PEPs)

Why Lemonway chose ComplyAdvantage for screening PEPs and Sanctions

The Challenge

Lemonway was dependent on an internal compliance tool developed within the company. This internal tool had suited their needs initially; but the company had grown considerably, and the tool was no longer able to meet the business’s needs. In particular, Lemonway wanted to reduce false positives and refine searches to ensure they received relevant and actionable alerts. Unfortunately, the internally developed tool offered a decentralized view and only limited audit functionality. Therefore, it could not be used as a true case management tool.

ComplyAdvantage’s compliance and deployment support is unique in the market.

— Pauline Heitz, Chief Compliance and Internal Control Officer, Lemonway

The Outcome

The methodology for processing alerts has been improved thanks to the centralization of reliable sanctions and PEPs data. The advanced search capabilities and the consolidation of data into single profiles have enabled Lemonway’s financial security department to optimize its workflow by reducing the time spent processing alerts and managing false positives.

ComplyAdvantage’s customer success team provides up-front recommendations and advice and is always on hand to support its customers’ compliance functions, a key differentiator when the CEO of Lemonway selected the solution.

Disclaimer: This is for general information only. The information presented does not constitute legal advice. ComplyAdvantage accepts no responsibility for any information contained herein and disclaims and excludes any liability in respect of the contents or for action taken based on this information.

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