WARSAW, Poland, July 25, 2023 – Kyndryl (NYSE: KD), the world's largest IT infrastructure services provider, today announced its selection by Graś i Wspólnicy, a leading law firm in Poland, to implement an anti-money laundering platform from Kyndryl. The new platform will help the company enhance and streamline its identification and verification process for its customers’ identities, and assess the risk of money laundering and financing of illegal organizations.
Anti-money laundering compliance is a crucial requirement in the national and international legal sector, as well as other regulated industries, such as banking and financial services. Organizations are mandated to conduct Transaction Monitoring (TM) and Know Your Customer (KYC) due diligence processes in order to assess customer risk and ensure adherence to anti-money laundering laws.
TM and KYC entail repetitive and labor-intensive processes. Due to their manual nature, they are prone to human error and can take several months to complete, which impacts customer satisfaction and the organization’s ability to stay up to date with the rapidly changing regulatory landscape. As a result, Graś i Wspólnicy turned to Kyndryl to implement its anti-money laundering solution, Kyndryl AML Platform.
"We take anti-money laundering laws very seriously and are constantly striving to enhance our level of compliance in all aspects of our operations, while delivering excellence to our customers," said attorney Bartosz Graś, Managing Partner at Graś i Wspólnicy Kancelaria Prawna. "Kyndryl AML Platform truly stands out among all other offerings in the market, and we have full confidence that it will transform our daily operations, ensuring greater efficiency, productivity, and accuracy in our due diligence processes."
By harnessing transformative technologies, organizations are able to intensify efforts to combat illicit activities and ensure compliance with laws and regulations. We are delighted to witness companies like Graś i Wspólnicy embracing innovation to drive operational transformation and enhance customer service.
The Kyndryl AML Platform will enable Graś i Wspólnicy to automate and digitize the collection and analysis of customer data in line with KYC. It offers real-time and retrospective monitoring of transactions and patterns, enabling the detection of suspicious or fraudulent activities and providing a comprehensive view of their activity. Additionally, it extends to the domain of cryptocurrencies, allowing for real-time tracking of significant currency movements and the association of a specific wallet with an individual customer.
Upon implementation, Graś i Wspólnicy will leverage extensive customization capabilities to accommodate industry-specific scenarios and regulations, ensuring the ability to meet the unique requirements of each individual customer.
“By harnessing transformative technologies, organizations are able to intensify efforts to combat illicit activities and ensure compliance with laws and regulations,” said Pawel Raczynski, Managing Director of Kyndryl Poland and Baltics. "We are delighted to witness companies like Graś i Wspólnicy embracing innovation to drive operational transformation and enhance customer service. We are confident that the Kyndryl AML Platform will enhance their due diligence procedures, elevating their ability to meet compliance requirements with unparalleled efficiency and effectiveness."
"As a technology leader, Kyndryl is continuously innovating to provide unique solutions that address the evolving customer needs,” said Robert Pakla, Senior Lead, Application Consulting, Anti Money Laundering, Kyndryl. “Proudly developed in Poland, Kyndryl AML Platform is already delivering noticeable benefits to our customers, such as Graś i Wspólnicy, and enabling them to tackle more complex areas like cryptocurrencies.”
Kyndryl's AML Platform was developed in Poland by a team of engineers, developers, and experts, and is now available globally.
Kyndryl (NYSE: KD) is the world’s largest IT infrastructure services provider, serving thousands of enterprise customers in more than 60 countries. The company designs, builds, manages and modernizes the complex, mission-critical information systems that the world depends on every day. For more information, visit www.kyndryl.com.
About Graś and Partners Law Firm
Graś and Partners Law Firm offers comprehensive legal services for individual clients and business entities. Founded in 2014, it now has 60 qualified lawyers and 30 people comprising the administration department. In addition, the Firm is a co-founder and partner of a global network of law firms located on 5 continents, in 57 countries around the world, operating under the name CATHAY Associates.