Effective September 1, 2020, Yes-co and SCOPE FinTech Solutions have entered into a partnership to integrate the CDD On Demand platform into Yes-co’s software for real estate agents. This makes Yes-co the first provider to offer real estate agents an integrated solution for complying with the AML and the Sanctions Act.
Easy compliance with Wwft and Sanctions Act
Just like other so-called gatekeepers, real estate brokers also have obligations under the AML and the Sanctions Act. By entering into this partnership and implementing an integrated solution, Yes-co can expand its software with a new module that helps clients comply with the obligations under the AML Act and the Sanctions Act. This offers clients the advantage of being able to, in a very user-friendly way, directly from their trusted Yes-co software:
- Be able to enter and/or update relationship data based on current Chamber of Commerce data
- Screen and verify clients in accordance with the AML and Sanctions Act and archive the results as a certified PDF document in the client records
- Conduct UBO investigations for business clients, including underlying Chamber of Commerce extracts, resulting in a certified UBO investigation report that presents the findings.
From its focus and specialism, SCOPE Fintech Solutions takes care of continuously improving the delivered product, developing new product components and features, monitoring laws & regulations, and implementing necessary adjustments for this, so that Yes-co can focus on the core of its own software for brokers.
Broad collaboration
In addition to integrating software components, Yes-co and SCOPE Fintech Solutions will also work closely together to educate and support customers in implementing and using the software. Various firms in the market have expressed strong interest in the new module; however, there is still a great deal of work to be done to raise awareness and provide clarification throughout the entire market segment regarding compliance with the AML and the Sanctions Act and what that entails. To this end, Yes-co and SCOPE will launch a campaign once the technical integration of the software is complete and the module is available to customers via the Yes-co App Store.
If you’re a real estate agent and are interested in this new solution or would like to use it, stay informed by adding yourself to the AML watchlist. Yes-co will then make sure to contact you when the product becomes available.
