Benefits of integrating Xama (coming soon)

A fundamental aspect of AML compliance is maintaining a thorough understanding of your client and continuously monitoring for any changes in their financial circumstances that could alter their money laundering risk profile.

Once Xama’s FreeAgent integration is live, you’ll be able to seamlessly connect to your client’s accounting ledger, pulling profit and loss as well as balance sheet data directly into your AML records.

This will enable straightforward comparisons with prior financial performance and ensure this information is automatically logged as part of your client risk assessments.

Improved and automated documentation of your client’s financial status streamlines the risk assessment process, enhancing both its efficiency and effectiveness. This approach will allow you to demonstrate compliance and reduce risk across your firm with no additional effort.

How Xama works with FreeAgent (coming soon)

Once the integration is live, profit and loss as well as balance sheet data will be imported from FreeAgent into a client record within the ‘Financials’ tab. This will provide an overview of a client's financial position and any changes to that position within Xama.

The data collected within the ‘Financials’ tab will also be saved as part of the client's risk assessment. This means that a history of financial snapshots will be available when reviewing a client's record for the purposes of AML compliance.

As each client record is connected to a different FreeAgent ledger, a connection option will be provided within each client record.

How do I get started with Xama? (coming soon)

Once the integration is live, you’ll be able to connect to FreeAgent directly from any client record in Xama by following these steps:

1. Go to the ‘Financials’ section and select the option to connect FreeAgent.
2. During authentication, you’ll be prompted to grant access to your FreeAgent practice account and select the relevant client.
3. Once connected, you can specify the period for extracting profit and loss and balance sheet data, as well as set comparative periods to analyse trends in the client’s financial position.