Meet the Team

The team behind InScope-AML is driven by our main message: “Compliance Made Easy”. In this article we look at how we go about ensuring that InScope-AML assists firms simplify their Anti-Money Laundering (AML) processes.

Ask any Anti-Money Laundering compliance practitioner to tell you what the most difficult part of AML compliance is, and you are bound to hear stories of complex processes riddled with paperwork, endless spreadsheets, and multiple sources of information to manage. And when you think that you have everything under control, new regulations are announced, countries are added to blacklists, documents expire. And more.

Sensing an opportunity in the market for a software solution that would help manage the AML compliance process, InScope-AML was born more than five years ago. The team behind the product consists of experts in AML and software development. Marcel Cutajar, Matthew Rizzo and Matthew Scerri all run their own, very successful software companies while Victor Rizzo is an AML consultant with over 20 years’ experience.

Victor set the context: “The fight against money laundering and the funding of terrorism has an international dimension, with all financial institutions and DNFBPs in the UK and the EU having to comply with the relevant directives. This international dimension is reflected in our customer base, as today InScope-AML supports customers in eight countries, both within and outside Europe.”

“Alongside the international aspects of AML, the local dimension in every jurisdiction is equally important, with each country’s AML supervisor entrusted with managing the processes to combat money laundering and the funding of terrorism. And here lies the strength of InScope-AML; it’s ability to be aligned to the stringent requirements of international regulation but also flexible enough to be adapted to each jurisdiction’s local requirements, in each and every country that the solution is offered.”

So, what is InScope-AML?

Matthew Rizzo, the CEO describes the solution. “InScope-AML allows you to bring together in one place all the scattered information and processes associated with a manual or spreadsheet-based system, providing you with a centralised and complete view of the status of your AML risk processes and the risk classification of your customers, based on your own risk rules, policies and procedures.”

“InScope-AML’s intuitive, browser-based interface also provides you with the ability to generate ad-hoc or regular reports for management and authorities. InScope-AML allows you to leverage automation beyond the standard KYC screening solutions available in the market since it provides a comprehensive AML solution.”

For Marcel Cutajar, director at InScope-AML, adaptability is another very important feature of the solution. He explains. “From the beginning of the journey we realised that organisations differ in the way that they handle AML compliance, so our product had to fit within their way of doing things. We understood that a ‘One size fits all’ approach would not work, and that we would take time to understand the customer’s requirements and support them throughout their journey.”

“Moving to InScope-AML from an existing solution which is not serving its purpose, or from a laborious manual or spreadsheet-based system is straight-forward. After understanding and analysing the client’s internal risk policies and procedures, we will configure the system specifically in line with these parameters. We also assist in migrating existing data, and at the same time provide training on how to get the full potential of the solution. The focus remains on the alignment of InScope-AML to the client’s own specific risk appetite framework.”

For Matthew Scerri, director at InScope-AML: “What we achieved with InScope-AML was only possible due to the expertise all four directors and the other team members bring to the project. The solution is backed by the combined power of two software development houses; Cleverbit Software and Agilis IT Business Solutions. With a combined team of over 70 developers, as well as our experts in anti-money laundering regulation, we have created a solution which can be adapted to the needs of any operation, at a price which businesses of any size can afford.”

Victor concludes: “Already after the first few weeks our customers understand why InScope-AML’s main message is Compliance made easy”.

For more information about InScope-AML, please download our eBook here.

If you are interested in scheduling a one-on-one discussion with one of our consultants, you can book a call here.

Or schedule a demo for an in-depth look into InScope-AML.