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 ‚Äď 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 Objectives

Lemonway handles a high volume of transactions and payments from a wide range of sources and was looking for a screening solution that provided all the functionality the compliance team needed to support the company’s growth goals. Lemonway’s primary objectives were to reduce the number of false positives generated when screening entities and to have a platform capable of centralizing the processing of alerts.

The Solution

The screening solution, integrated in just one month, provides a single, centralized platform, allowing their compliance team to better focus their analysis and reduce the number of searches.

The two-way RESTful API provides real-time alerts on changes in the status of sanctioned entities or PEPs. These are sent directly to the team responsible for processing and remediating the alerts.

In addition, the tool allows a detailed audit log to be kept, serving as evidence to regulators that customer due diligence has been exercised and that their obligations with regard to the freezing of assets and politically exposed persons are respected.

ComplyAdvantage has provided us with a professional solution that can easily adapt to the requirements of regulatory authorities.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.