CDDS was created in Luxembourg in 2009 and today employs 16 people in Luxembourg. Its main objective was to fill the gaps in the Anti-Money Laundering and Terrorism Financing (AML) solutions market, at the time exclusively focused on large companies within the financial sector.

The idea of CDDS was launched in 2008 to help smaller players, SMEs, implement affordable solutions to meet their legal obligations. Today, we offer an array of solutions ranging from the complete Compliance Solution, AMLspotter, to mass screening solutions. Our international development has led us to incorporate more and more screening lists, so that we are able to propose a catalog of "blacklists", "watchlists" and PEPs, equivalent to the one proposed by world AML leaders. 

Philippe Lassine, CEO of CDDS 

Since 2012, CDDS has launched its international expansion by opening subsidiaries in Switzerland and Malta. This expansion continued with the signing of strategic partnerships with resellers in Cyprus, Singapore and Mauritius.

"The end of 2016 was a key moment for CDDS," says Philippe Lassine, "we signed a partnership with one of the world leaders for which we created white label versions of our software. This partnership has projected us into another dimension, as subsequently our client-type changed. In 2 years, we passed from the SME client which we continue to serve with great attention, to the international firm obliged to screen several million names against "watchlists" daily.” Philippe Lassine is delighted: "Today, we serve an international clientele from Helsinki to Johannesburg north-to-south and Singapore to Sao Paulo or the Caribbean east-to-west, out of Luxembourg, and this saga was made possible thanks to the strong involvement of the team."

Another major development of the last months is the addition of a large number of sources to the CDDS List catalogue, adding many international and national sanctions lists. This has been made possible due to the strong involvement of the list team of CDDS.

What about the future?

Philippe Lassine believes that "the market is bursting with the emergence of new players in the field of KYC, the RegTechs. The multitude and diversity of the offer makes the choice of professionals more complicated, especially since many new players are start-ups with few resources and track-record as we were, ourselves, 10 years ago. On the other hand, however, financial professions are evolving, and many new opportunities will open up with new types of companies, such as those active in cryptocurrencies or mobile payments. Owing to the recognition of our solutions through the market, we continue to build on our international expansion and do not rule out backing strong new partners or even acquiring companies active in our field in the next few years. 

As for CDDS, we are currently working on a facelift to some of our solutions and it goes without saying that the team will also continue to expand to ensure this growth. " This facelift started with the development of a new “browser based” BatchNameCheck that will be released during the autumn 2019. This new BatchNameCheck will be more user friendly with several new functionalities.

For 2020, we will investigate the possibilities to offer BatchNameCheck as a SaaS solution to the market due to many requests from clients and prospects and we will work on the facelift of AMLspotter, which we expect to release early 2021”.

Want to know more about CDDS (AML made in Luxembourg) or about our solutions? [email protected]