The new cleversoft division was founded in 2009 under the name Customer Due Diligence Solutions (CDDS), by Philippe Lassine and has become a market leader in the Luxembourg GRC (Governance, Risk & Compliance) sector. The software specialist offers, now under the name cleversoft, anti-money laundering software that automatically runs official sanctions lists and politically exposed persons (PEP) lists and checks media for negative reports on individual clients or databases . Automating these types of checks ensures compliance with various AML and KYC compliance regulations while providing risk classifications for each individual.
In addition to its software solution, the new cleversoft unit (previously CDDS) maintains and updates a comprehensive database for conducting name checks and is therefore not dependent on a third-party vendor. With the latest cloud solution “cleverKYC”, all known CDDS functionalities are extended i.e. by an end customer portal. This allows KYC information to be captured digitally.
The unit currently serves over 700 clients in the financial services industry and related industries (e.g. banks, asset managers, trust service providers, etc.) in over 40 countries, including Luxembourg, Monaco, Switzerland, France and the Netherlands.
“We are today completing our integration with the cleversoft Group and are very excited to be able to offer our clients an even broader range of innovative financial crime solutions. Our name change is a clear signal that together we will drive our strategy for further sustainable growth.”
“The name harmonisation is representative of the next stage of our company’s development. As cleversoft, we want to focus on what we have been working on for the last 15 years: innovative technology that makes it easier for the financial industry to fulfil the constantly changing requirements of regulatory obligations.”
Founded in 2004, cleversoft Group is a leading cloud-based RegTech provider for financial services. The company is headquartered in Munich and has offices in Amsterdam, The Hague, Frankfurt, Nuremberg, Luxembourg and Sofia. cleversoft provides digital solutions to more than 1.000 financial institutions worldwide to support business processes for regulatory documents, marketing materials as well as commission payments, including regulations such as MIFID II, 6AMLD, PIFI2, Solvency II, IFRS 17, PRIIPs and IORP. Another key area of focus is the Financial Crime Prevention division, which was expanded extensively through the acquisition of CDDS in July 2021.