The same challenge for every company
Dealers who sell or lease goods, cars, machinery and so on usually work with several finance companies. Under the Anti-Money Laundering Act, each finance company must be able to document that sellers of financing have completed annual anti-money laundering training. In practice, this could mean the same seller having to take this training with two, three or four different finance companies every year.
With the shared digital portal, a seller of financing only needs to take the course once a year. The result is recorded and made available to every finance company the seller is affiliated with – even if the seller changes jobs. At the same time, the finance companies get secure, quality-assured and automated annual distribution of the courses. An administrator at each finance company can easily log in and get reports on their sellers.
