The View from the 12th Annual Money Laundering Conference
Friday, March 23, 2007
Posted in: General
I am wearing the green here at the 12th Annual Money Laundering conference in Hollywood Florida -- green is the color of my name badge indicating to everyone that I am a vendor. The color green lets conference attendees—corporate attorneys, general counsel, risk and compliance officers, and law enforcement agents know that I am here to talk about my company and product.
Good news here is if an attendee talks with me they will probably really benefit from what we have to say because we can help them solve a signficant business problem. The chief compliance officers and AML professionals who are always on the look-out for new tools to keep tainted money out of circulation did stop to listen and liked what they saw and heard.
After I asked a few questions to understand their job responsibilities and specific AML challenges, I’d pose a question like “what if you could link your policies to regulations so that they were always in synch...what if you could assign people the tasks required to conform to a policy so that they, and you would always know if you were conforming with policy…what if you had the ability to continuously monitor and manage compliance?” That was usually enough to pique their curiosity to ask for a demo.
Now, I will be the first to say that product demos rarely catch somebody’s attention any more – especially at a conference or trade show. Not so here. When they saw the part of the demo where a policy is linked to a regulation I saw a light bulb go on nearly every time. I haven’t heard a “wow” in years, but there it was -- over and over again. Wearing a green badge didn’t matter any more. My gut says we will find genuine interest when we follow-up with a lot of the AML folks...we’ll see.