A safer Fintech industry with Lex Gielen
Lex Gielen is an entrepreneur and the owner of the Gielen Group. In The Gielen Group, you will find several FinTech companies. The goal of the Gielen Group is to create a Fintech Ecosystem that is ready to meet futureproof financial needs of consumers. Being an investor or active in the finance industry, you deal with certain risks. After all, doing business and investing is never risk-free.
In 2013 Lex founded his first company Atlantis Financiers. Atlantis Financiers is an alternative finance provider. As a finance provider, you have to take risks into account that your customers entail. Over the years, Lex has developed several techniques to map out the risks. These techniques worked so well that he converted this competence into a new company called Paylex. Now other companies can use these techniques to do business more safely.
Paylex specializes in estimating the financial health of a company. Using financial algorithms and several databases, customers can quickly check creditworthiness. The goal is to provide and combine relevant information to make well-considered decisions. Lex understands that a financial health check can look different for each company. By combining the best techniques, databases, and algorithms, Paylex can service companies, individuals, and governments. Two products of Paylex are:
iRisk:
With iRisk, you gain access to your (potential) business relationship’s financial health. Within minutes you will know whether that particular business is financially healthy. iRisk calculates finance calamities and payment behavior. In addition, you can immediately see who is authorized to make decisions on behalf of your business relationship.
Paylex scores your business relationship in real-time on more than 400 indicators and provides you with advice on how much you can do business safely.
MarketScan
Paylex can also use the information to discover business opportunities. With MarketScan, you will find business opportunities to grow your company. You have the option to filter and specify by sector, age, location, etc. Use these filters to find the right business opportunities that match your goals. The power of MarketScan is efficient and effective targeting.
Integrity risks
In addition to financial health, integrity risk has become very important lately. After all, companies do not want to do business with companies or people with links to criminal activities, money laundering, or terrorist financing. To protect the credibility and integrity of the financial industry, we all need to take measures. Credibility and integrity are crucial for a good brand name, retaining and attracting customers. In practice, this investigation is a time-consuming activity. Lex found a way to combine data and technology to make this investigation easier and more time-efficient. And thus, Customer Diligence was founded.
With Customer Diligence, Lex offers companies the opportunity to screen their customers online for links to money laundering or terrorist financing. You can perform this investigation manually. However, Lex understands better than anyone that time is money. When investigations are performed quickly and correctly, companies and entrepreneurs can spend more time on business operations. Customer Diligence offers the following services:
Anti-Money laundering and terrorist financing screening
A company can perform a search on person and company level. Dozens of databases are consulted at once. These databases contain lists of sanctions, political status, and criminal law information. By combining different databases, a thorough search is performed in one go. A database that is expanding and updated every day with new information. After a search on a personal level, for example, you instantly see a quick overview of possible risks. If necessary, you can do a deep dive into the specific database to see the details.
Finding the ultimate beneficial stakeholder
The ultimate beneficial owner(UBO) is the most crucial person in the business relationship. Correctly identifying these persons can be troublesome. Customer Diligence collects various information and offers tools to find the UBO of companies. When a company is involved in money laundering or terrorist financing, the UBO will be aware of this and enjoy the benefits. Identifying this person is therefore crucial.
A safer Fintech industry
Estimating the risks that a customer entails is crucial when doing business safely. With Paylex and Customer Diligence, Lex wants to offer companies the possibility to grow their business safely. A safer financial and investment sector benefits everyone.
