TGS Baltic is a top-tier commercial law firm that has won various awards in Europe. With over 1500 local and international clients, TGS Baltic uses their expertise and experience to aid in the development of their clients’ businesses.
Ondato’s work with TGS Baltic
As a law firm, TGS Baltic must verify the identities of its clients. Therefore, in 2020, it turned to Ondato to provide them with a comprehensive Know Your Customer (KYC) process. This process allows TGS to quickly and accurately confirm client details and obtain all relevant documents. This information is stored in Ondato’s central hub, allowing additional checks and periodic client data monitoring.
When the war in Ukraine broke out, TGS Baltic faced the urgent need to check Sanctions lists. Ondato stepped in with a solution that improved their process. Now, TGS Baltic can verify their clients against global Sanctions lists with a single click, thanks to Ondato’s database that updates every 3 hours, 24/7. This real-time update ensures the information is always accurate and up-to-date, providing TGS Baltic with the confidence they need in their compliance efforts.
Additionally, TGS Baltic can request business registry data and receive verified information on all business clients, both local and global. This ensures that all provided data is double-checked for accuracy.
Ondato’s Solutions
Identity verification: Our identity verification system uses AI technology to streamline the onboarding process. Verifications are completed in seconds with remarkable accuracy. This eliminates the need for potential users to endure lengthy verification waits, reducing the likelihood of onboarding abandonment. Furthermore, we uphold the strictest standards of AML compliance in accordance with the latest KYC, GDPR, and AML regulations.
AML screening and monitoring: Ondato simplifies sanctions screening and monitoring, enabling companies like TGS Baltic to monitor the dynamic watchlist encompassing businesses, organizations, individuals, and governmental bodies. This proactive approach protects against fraud and financial crime. By transforming AML requirements into a business asset, we aid in identifying and preventing financial crime while also enforcing restrictions on business deals with entities that violate international laws.
Business reports: We provide a comprehensive database of global and local business reports, offering diverse sources to ensure the accuracy of your data. Our database includes shareholder information from 105 countries, and reports accessible from 195 countries providing unparalleled coverage and insight.
Results
TGS Baltic are pleased to utilize the services of such a cutting-edge, an innovative and reliable service provider, known for its user-friendly solutions and top-notch services. As a client, we greatly value the efficiency and quality that Ondato team consistently delivers.
Žygimantas Stankevičius, Partner and Head of Finance industry group at law firm TGS Baltic
