Wallman & Co improves compliance with Finago Control

Accounting firm Wallman & Co has implemented Finago Control software to enhance its internal processes, particularly in managing client agreements and Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures.

As its client base grew, Wallman & Co identified a need to streamline and improve efficiency in these critical areas. Previously, information was scattered across multiple systems, hindering oversight and creating challenges for audits. With Finago Control, the firm can now consolidate all necessary data into a single platform.

Alexandra Andersson, an Accounting Consultant at Wallman & Co, described the new system as significantly more efficient. "If there is an audit, it’s very easy to retrieve what we already have. We don’t need to stress or go searching through folders or other systems since it’s just there. Everything we need is gathered in one single place," she stated.

The Finago Control system provides an integrated solution for managing service agreements, digital signatures, and KYC/AML checks. It automates documentation and facilitates ongoing monitoring of client risk profiles, reducing the potential for manual errors and saving considerable time. The company reported that creating a service agreement now takes approximately ten minutes, down from a previous three hours.