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Your Partner in Risk Compliance
Lemonaide began its journey in 2016 when its founders exchanged the comfort of the corporate world for the uncertain life of a start-up. The timing of the journey coincided with the promulgation of the FIC Amendment Act in South Africa.
A niche was identified in the market by the founders for a technology solution to cater holistically for the new regulatory framework. Combining their joint experience in the Financial Industry and Technology worlds, the founders enjoyed early success in the venture, onboarding Blue Chip anchor clients in the form of Banks, who to this day make use of our digitized data services.
The start-up has grown from strength-to-strength, steadily expanding its service offering and humbled by the growth of its client base locally and beyond the borders of South Africa.
To ensure that we remain on top of latest and emerging technologies, we undertake bespoke software development on select projects with a preference for start-ups (we love start-up culture) with short to medium term timelines.
We are, at our core, an information technology business with a chosen specialization in the realm of Compliance. The global transition from a KYC to KYD approach is well underway, underpinned by a fundamentally datacentric mindset. We are well-versed in a variety of latest technologies, operating systems, networks, and databases. We have used this expertise to develop a Big Data platform and an associated Case Management System to help financial industry customers master the rigors of regulatory compliance. This makes us the ideal RegTech partner to all types of Accountable Institutions regardless of size.
Years of identifying and accumulating datasets with direct relevance to AML/TF and associated criminal legislation, have seen us arrive at a stage where we are fulfilling the function of a risk bureau in the context of CDD/EDD.
Subscribers to our software have access to our flagship risk screening outcome - our Digital Footprint is a single view of a customer's risk profile based on publicly available crumbs across the digital world. Every node of data is referenced to source to ensure veracity, validity and accuracy.
The impact of compliance on customer acquisition cost has escalated over the past decade as customers have transitioned from a rules-based to a risk-based approach to KYC. Do you spend most of your resources on collation of data instead of analysis of risk screening? An efficient and effective process for the collection, formatting, management and analysis of gathered data, significantly reduces the cost of onboarding and ongoing due diligence, so that you can focus on what you do best-running your business.
The world of technology can be fast-paced and scary. The regulatory framework in which you operate is ever-evolving to keep pace with shifts in the risks facing global financial systems. Our products evolve perpetually to ensure their relevance to changes in both spheres. Our goal is to maintain that balance in order to provide an experience that feels tailored to your company's needs. No matter your size, we pride ourselves on providing professional customer service. We guarantee you will be satisfied with our work and our service.
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