0 Shares The Covid-19 pandemic has boosted demand for digital client onboarding in the alternative asset management industry, in addition to continuing regulatory pressure. Meredith Moss, Finomial Meredith Moss, co-founder and chief executive of Finomial, told Market Media: “Covid-19 has been a watershed event in the industry. However the need for digital client onboarding is also driven by the regulatory push for anti-money laundering and addressing offshore tax evasion.” For example, one of the last pieces of regulation of the previous US administration was the Corporate Transparency Act, which requires firms to disclose their beneficial owners. Finomial was founded in 2014 to provide a cloud-based software-as-a service offering to automate investor servicing including client on-boarding, due diligence, such as anti-money laundering and know your customer checks, and global regulatory reporting for alternative asset managers. By using the cloud, Finomial gives the buy side, fund administrators and custodians a single view of transactions and data so they can automate the hedge fund subscription and redemption process and reduce risk.