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25 Most Promising Compliance Solution Providers

MitigateCRM: The Gateway for Financial Innovation into Israel’s Fintech Industry

Idan Levy,Financial Regulation Consultant & Founder

Digital innovation and emerging technologies such as Cloud, IoT and data analytics has enabled non-banking companiesto deliver faster, secure and agile financial services. Many fintech companies have offered new financial ideas to break the traditional banking system and increase profitability. However, the compliance and regulatory laws still pose serious challenges for these financial institutions. With the vision to become a bridge between the new financial industry and the traditional financial regulation requirements, MitigateCRM was founded in 2015.

Since new financial companies depend and rely on a regular commercial bank to perform simple operations, they come under constant scrutiny from Compliance and Reputational on boarding committees that cause delay. The scenario in Israel, the world’s newest technological hub resembles the general trend where major banks put the pressure on growing fintech companies to meet the regulatory requirements to avoid severe fines and even criminal charges according to the anti-money laundering and counter terrorist finance laws etc. As Israel’s foremost financial services organization, MitigateCRM helps clients target the relevant license that the company needs to obtain in order to provide its financial services to its prospective clients and the regulation it falls into, embed compliance processes into its operations and respond proactively to regulatory changes. In addition, MitigateCRM uses its team's extensive banking experience and knowledge to guide and support clients in the process of establishing a bank account.

Idan Levy, an acclaimed legal expert with over a decade of compliance experience heads the leadership team of the company. MitigateCRM uses its experience to script a tailor made company Anti money laundering Policy and adequate procedures that meet the relevant regulatory requirements, and improves their banking business. Idan says, “We strongly believe that financial compliance and financial technology can be incorporated together.

Technology is about to succeed where many legislators and protestors have been failing to do for years, revolutionizing and redefining banking.”
MitigateCRM’s deep understanding of financial compliance processes, guidance from a strong team of real compliance experts and end-to-end compliance solutions has made the company a formidable competitor in Israel’s financial market. MitigateCRM helps financial companies to put the best foot forward in the age of digital transformation. The company provides advisory services directly to the client's operational team to embed the local regulation requirements into their systems and tools, or connects them with software companies to design a tailor made technological solution. The company works in perfect collaboration with the client's existing legal counsel and/or accounting firm to achieve maximum results.

The rise in money laundering activities has threatened the credibility of financial companies worldwide. Hence, it becomes vital to smartly evaluate and acknowledge specific AML risks prior to operating and tackling relevant risks through innovative techniques. MitigateCRM builds policies and processes that address financial conduct, client risk classification methodology, enhanced due diligence, monitoring, reporting and exit management processes to insure that the company complies with regulation requirements, and that it will not be exploited by its clients for the purpose of money laundering.

MitigateCRM helps financial companies to put the best foot forward in the age of digital transformation

The future of the banking industry will depend on how the banks compete with the financial regulated technology companies who can clearly outperform them by managing customers’ requirements better. MitigateCRM has proven capable in keeping clients a step ahead during regulatory and technology changes. “In the years to come, MitigateCRM strives to play a significant role in the industry and become a prominent financial compliance solutions provider, being a gateway to Israel for financial corporations & investors from all over the world and a first grade partner in building the banks of tomorrow", concludes Idan.