CrossLend, the Berlin-based FinTech providing technology-driven end-to-end solutions for loan asset transactions, has become a member of Germany’s Federal Association of Money Laundering Officers (BVGB). Representing and promoting the interests of money laundering officers within corporations, the BVGB helps companies navigate the rapidly evolving and increasingly complex regulatory landscape.
The association’s work is closely aligned with CrossLend’s business imperatives. As a partner to loan originators and investors at a pan-European level, working for more flexible, transparent and connected capital markets, CrossLend is deeply involved with and impacted by money laundering legislation at both the national and supranational level.
Of the new membership, CrossLend’s Compliance & AML Officer Jennifer Kohn says: “Being at the heart of the conversation around anti-money laundering measures is important to us, given the special sensitivities in our area of operation. The BVGB asks all the right questions: what pitfalls should the industry be aware of? What needs to be done to improve the legal framework in Germany as well as across Europe? How can legislation be constructively shaped to enable efficient and successful engagement in the future, particularly in terms of digital transactions? We are excited to bring our own experience and insights to the table and we are confident we are in the right place.”
Daniel Schmedding, Chairman of the BVGB observes: “In recent years, the deepening complexity of the legal regulations and obligations to prevent money laundering and terrorist financing – resulting from an increasingly networked society – have presented enormous challenges to both long-standing financial institutions and FinTech innovators such as CrossLend. By creating a space for intensive exchange with legislative and executive authorities on current topics and amendments to the law and by exerting influence on the development of legislation and questions of interpretation, we are working to ensure that all voices are heard. It’s our goal to ensure regulation keeps pace with the rapid evolution of the industry and that money laundering officers are both fully informed and fully supported as a professional body.”
CrossLend is a FinTech company providing a digital platform for end-to-end private debt transactions. Leveraging the power of technology and data, CrossLend facilitates interactions between originators and institutional investors through data analytics, a distribution platform and a streamlined digital settlement process. The company’s pan-European client base includes banks, alternative lenders, pension funds and insurance companies. Supervised by BaFin, the CSSF and the FCA and backed by an array of prestigious investors, including Mouro Capital (formerly Santander InnoVentures), ABN AMRO Ventures and Lakestar, CrossLend is headquartered in Berlin, with offices in Frankfurt, London, Vienna, Luxembourg and Lisbon.
Founded in 2020, Germany’s Federal Association of Money Laundering Officers (BVGB e.V.) represents and promotes the interests of money laundering officers, in companies or as individual members, at all levels. The aim of the Association is to strengthen both the development of the industry and the professional field, while taking into account both the specific requirements of companies and clients with regard to legal regulations and developments and the special sensitivity and importance of the topic as a whole. Through its work, the Association strives to actively help shape this increasingly complex and ever-evolving professional field.
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