A Guide to Anti-Money Laundering for Crypto Firms

Volopa reduced manual effort and time to onboard

AML Compliance Payments Customer Stories

The Company

Volopa is a London-based fintech company authorized by the Financial Conduct Authority (FCA) to carry out payment services and issue cards across the European Economic Area (EEA). Volopa operates multi-currency prepaid card programs and foreign exchange money transfer and remittance services for consumer and corporate clients.

Industry: Payments
Product: AML Screening and Monitoring

ComplyAdvantage’s solution helps to ensure that no suspicious entities slip through the net. It also provides the reassurance our compliance team seeks in our processes. Finally, it saves us the inordinate amount of time it would take to conduct such checks manually.

— Graham Smith, Managing Director, Volopa

The Outcome

The reduction in manual intervention of compliance staff when onboarding new clients allows Volopa to provide a seamless customer experience. Volopa can now onboard a large number of customers in seconds, compared to a previous average of 1½ to 2 hours per customer. Finally, adverse media checks allow Volopa to dive deep into their customers’ risk profiles to ensure high-risk entities are identified.

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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