"Documentation for money laundering shouldn't be rocket science"
- Mette Quottrup, Accountant & owner of mq-revision
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"The brief answer is laziness. In more detail, it was an outsourcing
of the completely tedious paperwork and routine tasks".
These are the reasons given by the Accountant and Owner of MQ-revision, Mette Quottrup, for why she automated her KYC and AML processes.
An accounting event with auditing firms, along with the monotonous credit assessment work that she was thoroughly fed up with, marked the beginning of Mette Quottrup's collaboration with Visma Creditro.
"It was about outsourcing that completely tedious paperwork and routine tasks," says Mette.
The easiest money
The tedious work involved often required her to spend 1-2 hours per client—sometimes more when the final responses needed reminders. It was both time and resources that Mette preferred to allocate to something other than anti-money laundering checks.
"It's the easiest money for me," says Mette and continues:
"I only need to enter a few details: a name, a CVR number, maybe a CPR number, an email address, and a phone number, followed by a brief five-line description, and then it's done. I don't have clients with major issues because they are such small clients."
The clients already have the answers
Mette Quottrup has previously used other systems, but her experience was that she had to input a "long spiel," even though it was the same information she provided repeatedly. She sees an advantage in having questionnaires sent directly to the customer.
"Somewhere along the line, it's actually better for them to answer the questions. They are the ones who know the answers. It's really not us, no matter how we look at it," says Mette, elaborating that if you explain the premise to the customer beforehand, you often receive their response within an hour.
"I have a lot of rental properties, and it's just a small side business, so money laundering shouldn't be made into rocket science," she emphasizes, concluding with: "This is simple, straightforward, and it goes quickly."
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