Europe’s leading gaming company selects CumulusPro Straatos BPM to meet EU Money Laundering Directive
Luzern, Switzerland, 18 September 2018 - CumulusPro is pleased to announce that a gaming and entertainment operator in Italy has selected Straatos BPM platform as a digital transformation solution to meet EU Money Laundering Directive.
On the 25th May 2017, Italian regulators implemented the Fourth Anti-Money Laundering Directive (also known as “4MLD”). The directive requires italian gaming operators to implement technological and organisational procedures that mitigate and manage the risks of money laundering and terrorism financing. One of the main requirement of the 4MLD dictates that gaming operators (the Italian gaming operator) exercise robust customer due diligence and Know-Your-Customer (KYC) process for transactions higher than € 2,000, or when transactions are suspected of any money laundering or terrorism financing activities.
The Italian gaming operator has selected CumulusPro Straatos for the following reasons:
- Quick and cost-effective deployment to more than 1000 outlets in Italy in less than 2 months.
- Flexible and agile workflow capabilities in modifying checking rules.
- Improved customer service experience and satisfaction from shortening of customer servicing.
- Increased employees satisfaction from lightened workload.
- Increased employees productivity by removing mundane document validation tasks and letting them focused on customer service activities.
- Compliancy to current legislative regulation in a short time.
- Improved due diligence and risk mitigation processed.
“Increasing weight of new anti-money laundering legislation from regulators, coupled with the increasingly diverse risks to which businesses are exposed, means businesses like the gaming operator needs to ensure that no risks fall between the cracks.” said Giulio Battistini, CEO CumulusPro. “Using Straatos BPM platform and CumulusPro multi-channel input infrastructure in their 1000 retail outlets, we have quickly put in a place a solution that automates the processing, data extraction, and filing of thousands of betting tickets and personal identification documents; which is one of the key requirement of the new directive.”
CumulusPro helps businesses to rapidly transform into digital enterprises by Connecting People, Process and Application. CumulusPro’s cloud-based Business Process Management (BPM) Platform, Straatos, is designed to revolutionise how organisations and public institutions digitally communicate and collaborate with their customers, citizens and partners. Digital enterprises typically improve their customer experience, increase customer’s satisfaction, business efficiency and productivity while reducing cost and time to market.
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