What is Proofdesk?
Last updated
Last updated
Proofdesk is a software platform developed by Native Systems Limited that streamlines your compliance workflows while maintaining a signed and dated audit trail of all activities related to managing AML/CFT compliance. Proofdesk offers a high degree of configurability, adapting to processes and policies you already have in place.
The software acts as your compliance team’s smart filing cabinet, encompassing:
Manage and store essential customer identity information and documents.
Streamline customer risk assessments with custom templates, risk levels and criteria.
Manage the full compliance lifecycle from onboarding through reviews and reporting.
Implement and evidence approval workflows for engaging or terminating customer relationships.
Document the history of all evidence including policies, documents, assessments and approvals.
Instantly generate tailored reports on your compliance activities and the risks you face.
Generate your Statistical Return for the regulator in a matter of seconds.
Recent civil penalties from the FSA have demonstrated that the method you use to document your evidence is just as important as what you’re documenting. Even fully compliant firms aren’t safe from fines if they don’t have a sufficient paper trail to evidence their AML/CFT process to the regulator.
Compliance teams face unique challenges that spreadsheets or generalised “compliance modules” can’t adequately address. With increasing pressure from the regulator to keep accurate and accessible records, relying on manual processes can lead to inefficiency and costly remediation or fines.
“A relevant person’s record keeping procedures and controls must enable them to satisfy, within a reasonable time frame, any enquiries from competent authorities.
Furthermore, it is only through adequate record keeping that relevant persons can demonstrate compliance with AML/CFT legislation.”
The Handbook 2023 Section 6.4
We estimate that firms using Proofdesk see a benefit of £89 to £504 for each customer relationship on their books by:
Saving time on CRA and onboarding
Automating the Statistical Return
Unlocking billable hours
Avoiding remediation costs
Reducing their likelihood of penalties
Additionally, by using Proofdesk firms can:
Confidently present the regulator with accurate and up-to-date evidence.
Unlock business growth by onboarding customers more efficiently.
Treat every customer relationship consistently and in line with your stated policies.
Give board members more effective oversight of the risks facing their business.
Reduce the effort needed to process compliance data, allowing their team to focus on mitigation.
Securely store customer data within the IOM’s jurisdiction.
Our team of experienced software developers, compliance professionals, and cyber security specialists know what Isle of Man businesses need in order to stay compliant.
From day one, we provide hands-on support to help you adapt your existing workflows and fully leverage Proofdesk’s capabilities. Whether it’s migrating your data or setting up your processes, the team is here to make the transition seamless.
Proofdesk is rooted in the Isle of Man, updating constantly alongside legislation changes. We leverage the latest advice from local leading industry consultants to provide the best system possible.
Proofdesk’s infrastructure is built to exceed the requirements of our most demanding customers. Hosted at Domicilium, an Isle of Man data centre with a strong reputation for industry-leading security, our private cloud runs on secure and resilient dedicated hardware.
Proofdesk has been built primarily for firms on the Isle of Man who are regulated by the Financial Services Authority. We've taken care to ensure that our software conforms to the requirements set out by the Anti-Money Laundering and Countering the Financing of Terrorism Code 2019 (The Code) as well as the additional guidance found in the Anti-Money Laundering and Countering the Financing of Terrorism Handbook July 2021 (The Handbook).