Meysan Partners transforms client onboarding with AML software

AML compliance is a very time consuming, but essential process to undertake wherever you are operating in the world. The key, is to undertake the compliance procedures efficiently, effectively and speedily to ensure that clients are not excessively billed and their cases are handled within a reasonable time frame. Meysan Partners, an international law firm headquartered in the Middle East with a burgeoning presence in the United Kingdom, has undertaken a transformative journey in client onboarding

Meysan Partners has always stood at the forefront of legal excellence, boasting a team of leading professionals dedicated to delivering exceptional outcomes in deals and disputes. However, like many firms navigating the complexities of global regulations, they faced challenges in the onboarding process, particularly concerning anti-money laundering (AML) compliance.

Before the adoption of AML software, Meysan Partners grappled with a fragmented onboarding system, characterised by manual workflows and disparate tools. The need for a comprehensive solution that could seamlessly integrate with their practice management system became increasingly apparent as the firm expanded its footprint, culminating in the opening of its London office.

The impact of this transformation cannot be overstated. Ghassan Badran, Meysan Partners' MLRO, emphasises the significance of meticulous customer due diligence and the demand from international clientele for robust compliance measures. 

The AML software, equipped with corporate structure visualisation and bespoke risk assessment tools, empowered Meysan Partners to standardise AML risk approaches across all jurisdictions seamlessly. This was particularly crucial in navigating the unique KYC challenges prevalent in the Gulf region, where certified document collection is imperative due to the absence of comprehensive public registers.

The supplier of the AML software, highlights the importance of education on customer due diligence and KYC in the Gulf region, a sentiment echoed by Meysan Partners' commitment to compliance excellence. Together, they are pioneering compliance standards in the region, freeing up valuable time for Meysan Partners to focus on value-adding tasks while ensuring peace of mind with the AML solution.

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