Personr launches unified AML/CTF compliance suite

Until now, many businesses have relied on fragmented, manual processes and fragmented systems to manage their obligations, the technology company said.

Co-founder Nick Ahrens said Australia's financial system is only as strong as its weakest compliance link.

“Tranche 2 entities have historically sat outside the AML/CTF net, and that gap has been exploited. By making genuine, ongoing compliance accessible and affordable for small professional services firms, we raise the floor for the entire sector," he said.

Personr said its compliance suite has been designed with usability at its core, making compliance accessible to businesses without dedicated compliance teams.

"The platform eliminates the need to interpret complex legislation independently, instead guiding users through what they need to do and continuing to work for them long after initial setup," it said.

The Compliance Suite introduces a range of features to simplify and automate compliance, including an obligations register which translates complex legislation into clear, trackable tasks.

The suite also has a controls engine to automate compliance actions based on risk triggers, an AML compliance calendar to track all critical deadlines tailored to each business and an evidence pack to automatically record and compile audit-ready documentation.

Ahrens said the launch marks a significant evolution for Personr.

"We are now the only platform in the Australian market that covers the full AML/CTF lifecycle, from program management and risk assessment through to controls automation, staff records, training evidence and audit readiness, in a single product built specifically for Tranche 2 businesses."