The Luxembourg proptech has collaborated with the local law firm KLEYR GRASSO to support real estate players in complying with the latest KYC/AML/CTF/BO regulations.
With real estate regulations and requirements constantly changing, it can be difficult for real estate players to stay on top of the newest developments. Following the latest changes in the AML Law, real estate actors are required to perform a risk assessment and implement AML/CTF policies and procedures.
“Compliance with the new regulations is a daunting task for property developers which is why our solution aims to substantially simplify their compliance process,” explains Felix Hemmerling, CEO at kodehyve, adding: “We believe that our solution will have a positive impact on the real estate industry and will contribute to increasing transparency across the ecosystem.”
To support them in these endeavours, kodehyve is working with KLEYR GRASSO, a law firm which helps real estate players comply with the newest regulations and perform their due diligence on customers and beneficial owners.
“This collaboration is a prime example of how legal expertise and technological innovation can come together to make an entire ecosystem benefit.”Renata Jokubauskaite, Partner at KLEYR GRASSO
Available as part of the kodehyve OS, the proptech’s flagship proptech, and as a standalone compliance platform, the new solution aims to alleviate the struggles of property developers and real estate stakeholders alike.
Together with KLEYR GRASSO, kodehyve has addressed the major compliance issues within real estate and streamlined and automated KYC and AML checks. The collaboration was led by Renata Jokubauskaite and Delphine Tempé, both partners at KLEYR GRASSO, who worked closely with kodehyve’s chief product officer, Véronique Ziliotto, and CEO Felix Hemmerling to ensure a smooth integration of legal and tech.
“The recent amendments to AML laws in Luxembourg have created new challenges for property development organisations, and we understand the importance of providing them with the necessary tools to comply with these regulations in a secure and user-friendly environment. This collaboration is a prime example of how legal expertise and technological innovation can come together to make an entire ecosystem benefit,” commented Renata Jokubauskaite, Partner at KLEYR GRASSO.