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Member news: AMLHUB acquires CDD Outsourcing
AMLHUB Limited has acquired the anti-money laundering outsourcing company, CDD Outsourcing Ltd. The transaction settled in November 2022.
AMLHUB Limited, the award-winning anti-money laundering SaaS company, launched in 2018 and has expanded to 10,000 users who all use the AMLHUB platform and apps to manage their AML obligations.
The acquisition of CDD Outsourcing now provides additional services for users of the AMLHUB, and provides a complete solution to manage the AML obligations for companies captured under legislation.
The AMLHUB has recently launched innovative technology that has attracted new clients, all of whom are looking to automate their manual processes.
CDD Outsourcing welcomes the acquisition
All CDD Outsourcing staff have joined AMLHUB, and all existing outsourcing services have now become part of AMLHUB’s offering.
Director of CDD Outsourcing, Karen Jackson, welcomes the acquisition.
“We have worked closely with the AMLHUB team for a number of years as their outsourcing arm, so we are very familiar with both the AMLHUB platform and the needs of AMLHUB’s clients. By combining the knowledge and expertise of our teams under AMLHUB Services Ltd, users of the AMLHUB and the outsourcing function can access the latest in AML technology and consulting to achieve even more streamlined compliance.”
Giving NZ businesses choice in how they manage their AML
Richard Manthel, CEO of AMLHUB, says the acquisition is part of the company strategy to make AML as simple as possible to manage from one platform, giving businesses the choice to manage fully themselves or outsource parts when required.
“AMLHUB Group is on a growth trajectory in building software to empower our customers to seamlessly manage their AML obligations in-house. However, we recognise there are times when clients would like assistance with complex structures or higher risk clients. We are pleased to bring CDD Outsourcing into the AMLHUB to provide a complete AML offering to the NZ market.”
AMLHUB constantly evolving to meet business needs
Users of the AMLHUB will also experience a dramatically improved workflow for onboarding clients with its automated onboarding feature, and the new mobile apps.
For more information on AMLHUB’s acquisition or upcoming releases, get in touch with us.