Mokka is a financing service operating in Romania, specializing in providing flexible payment solutions for online and offline shopping. Through the Mokka platform, customers can purchase products and services from various partner stores, with the option to pay in interest-free installments over a predetermined period. Mokka aims to simplify the purchase process, offering a convenient and accessible alternative to traditional payment methods.
Mokka identified an urgent need to improve the management of its significant portfolio, reduce operational risks, and streamline processes to comply with the strict legal requirements in the financial industry. Before implementing the dMonitor platform, Mokka faced challenges related to a large volume of manual work, a high risk of human errors, and the considerable time needed for efficient portfolio management. These issues affected operational efficiency and increased operational risk.
To address these challenges, the dMonitor platform was chosen due to its capabilities for automated scanning and mass alert verification. Implementing the quarterly portfolio scan through dMonitor included a detailed portfolio analysis, automatically identifying and verifying relevant alerts. Moreover, a dedicated account manager ensures secure data transfer and performs the necessary checks, minimizing false positive cases. Additionally, this account manager works closely with the Mokka team to conduct further analyses when needed, facilitating prompt and precise interventions.
Besides these benefits, the dMonitor platform focuses on verifying alerts related to AML, risks concerning politically exposed persons, internationally sanctioned individuals, and compliance with KYC and AML rules. Thus, the Mokka team receives real-time notifications and can act immediately to investigate and resolve identified issues, ensuring compliance with legal requirements and reducing associated risks.
Regarding the impact of the implementation, dMonitor has significantly reduced operational risk by automating checks and eliminating human errors. Regular scans and precise alerts enable the Mokka team to quickly identify and address any issues before they become critical. Moreover, the dMonitor platform and services keep pace with Mokka’s business growth, being a reliable partner that meets ever-changing needs.
This automation has led to tangible benefits, such as a 40% reduction in the time needed for portfolio checks and a 30% decrease in operational costs. These significant savings allow the company to reinvest resources into other strategic areas. In addition to operational efficiency and cost savings, Mokka has noticed an improvement in team morale and a reduction in stress associated with repetitive manual work. Customer relationships have also improved due to faster and more accurate responses.
“Implementing the quarterly portfolio scan and alert verification through the dMonitor platform was a crucial step in our automation strategy to reduce operational risk. By automating these processes, we have almost completely eliminated manual work, allowing us to focus on value-added activities such as strategic analysis and product development. This has not only significantly improved operational efficiency but also increased our ability to respond quickly and accurately to any issues. dMonitor has become a vital tool for our efficiency.”
– Alexandru Balaci, CEO of Mokka Romania
