CDDS Group announces a strong increase in sales for 2018
On the day of its 10th anniversary, CDDS Group announces an increase of nearly 30% of its turnover in 2018.
CDDS Group was created in Luxembourg in 2009 and today employs 13 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.
CDDS: from birth to international expansion
Philippe Lassine, CEO of CDDS “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. “
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.”
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 going to offer a facelift to some of our solutions and it goes without saying that the team will also continue to expand to ensure this growth. “
Want to know more about CDDS (AML made in Luxembourg) or about our solutions? [email protected]