Digital Insurance Agenda

Harmoney: a platform that provides instant compliance with complete peace-of-mind 

Written by Roger Peverelli and Reggy de Feniks - Founders The DIA Community on Aug 30, 2022

With continuously changing regulations, the onboarding processes and lifecycle management for clients of banks and insurers have become time-consuming, annoying and suboptimal. Both for customers and relationship managers of insurance companies.  

Harmoney saw this and started building solutions with the aim to improve repetitive and manual compliance tasks to digital and automated ones, streamlining onboarding processes and supporting continuous customer due diligence with its End-to-End compliance solution for banks and insurers.  

Perpetual KYC management is at the heart of Harmoney’s solutions, allowing insurers to reduce compliance costs by increasing straight-through processing (STP). Allowing insurers to manage by exception and minimize the build-up of out-of-date records. 

Harmoney offers its modular platform that enables banks and insurance companies subject to anti-money laundering obligations to optimise the management of their digital onboarding & KYC-related processes, files and data sets. By connecting systems, data and the main stakeholders of every KYC procedure (the end customer, the front office and the compliance department) on the same platform, the product helps firms to become truly customer and employee-centric. By bringing digital elements into KYC processes, from onboarding to KYC remediation and periodic reviews, financial institutions can become more agile and substantially increase the customer experience, reducing processing time and costs, while maximising their operational efficiency across the board. 

Harmoney is currently active in 6 countries with a key focus being to bring its solutions to banks and insurers. Harmoney serves more than 30 financial institutions, like Baloise, AG2R La Mondiale and SwissLife.  

How does it work? 

The platform enables financial institutions to create hyper-personalised, end-to-end client and employee experiences. Thanks to Harmoney’s modular design, clients can cherry-pick the components and modules they need in areas such as customer identification, sanction list screening or the electronic signature.  

Based on the financial institution’s needs, Harmoney can implement these ready-to-use components into its platform. By doing so, financial institutions design tailored, frictionless, and efficient digital compliant user journeys adapted to their specific compliance needs. The platform helps financial institutions offer smooth and digital compliance processes such as client lifecycle management, digital customer onboarding, KYC remediation campaigns, periodic KYC review, blacklist/sanction list checks, adverse media and business register/database checks and many others. 

Why did we select Harmoney for DIA Munich 2022? 

Harmoney is a RegTech solution for the insurance industry that enhances the quality of customer data for business and compliance purposes. Through its capabilities in KYC Lifecycle management, the platform gives peace of mind for all compliance and risk management needs.  

At DIA Munich 2022 Thomas Van Maele, CEO and Co-founder, and Thierry van Alphen, Head of Business Development, will present how the company’s way of connecting all relevant data sources leads to cost savings and operational efficiency while being compliant with all regulations and increasing the quality of customer data.  

Who is Harmoney? 

Harmoney was launched in 2016 and the platform started off in 2018. Today, the team exists of more than 30 people and is active in 6 countries with strategic partners in Luxemburg, France and Belgium. 

The team comprises domain experts with years of experience in banking, insurance and compliance, as well as skilled developers and delivery managers. With this dynamic combination, Harmoney delivers business value to the financial sector through technology.  

“With Harmoney, we increase the quality and completeness of customer data in such an efficient way that you can truly focus again on your customer relationship and on building trust. ”

Thomas Van Maele, CEO and Founder Harmoney

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