Straightforward transaction monitoring.
Ermi helps you comply with anti-money laundering (AML) regulations to keep you safe and protect your customers.
Ermi is easy to use and affordable, so that it is accessible to everyone. It also comes with a great deal of human care.
The key features of ERMI
Fast to set up
Ermi is perfect for people who need transaction monitoring straightaway. We can even have you up and running in a day.
Human friendly
The output is a spreadsheet, so pretty much anyone can use it. We are also always here to help, if you do need any help.
Fixed price
Ermi is surprisingly uncomplicated so it’s surprisingly affordable. We don’t charge per transaction and the data is yours to keep.
Lightweight
Simple on the outside, and sophisticated within. Built by MLROs for MLROs so it knows exactly what you need and what you don’t.
Mercury wanted to work with a firm which had real-world experience in our sector. Ermi is the ideal fit. Mike is one of my financial compliance heroes, so we knew that his product would fit our firm, keep the regulators happy and help to keep our clients' money safe. They're unbelievably fast to respond, always happy to accommodate our requests and helpful wherever we need it.
How Ermi works
More intelligence, less artificial. Ermi uses the tools you already know how to use (like Excel and Google Drive). Get started with minimal setup. We also have the power tools your IT department needs, including straightforward integration with AWS S3 & Azure.
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1 Your IT team upload data to Ermi and sets to work
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2 Ermi does the maths and flags any issues
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3 Ermi sends a spreadsheet report straight back to you
The benefits of ERMI
The rules are built in
Ermi comes with a complete set of rules built in. We can help you customise it when you’re ready.
We’re always updating
We're always finding new ways to detect crime. New rules are auto-applied, we adapt to new legislation and keep the country risk lists (FAFT) up to date.
Get incredible insights
Ermi gives you insights into what's happening by providing you with management information alongside transaction monitoring.
160+ currencies
Ermi converts all transactions to a home base currency for monitoring using the EBA or the Bank of Canada rates for the day.
Meet the requirements
Including the Fifth Money Laundering Directive and EU, Canadian, UK and USA requirements.
Get an auditable trail
Prove you’ve done the monitoring. Get a folder of reports to share with the regulator. The reports stay with you and you have a copy of the data you own, and the output at all times.
Pricing
Ermi is perfect for organisations at many different stages. We support startups (and other users who don’t have a licence yet). We serve and support licenced firms with ongoing monitoring and can even act as a backup for existing systems. What do you need?
Let’s prepare to get a licence.
Ermi has been built for you because you don’t need anything all-singing-all-dancing at this stage.
As a startup, the FCA will expect you to be “ready to play”. We help you get set up and give you the documents you need.
You don’t want to be paying unnecessary fees for something you’re not fully using yet.
£6,000 + VAT The set up package requires a 1 year commitment. It doesn’t include monthly running.
You've got a licence. Let's go.
If you don’t have a system in place, or you need to switch, we can get you up and running straight away.
We’re also ready to help you with any customisation or new rules that you might need.
You get everything for one monthly price. Our pricing is solely based on daily or weekly running with no per-transaction fee.
£600 + VAT Per month for weekly automation.
£2,000 + VAT Per month for daily automation
You’ve got a system. You need backup.
We help you hit DORA requirements (Digital Operational Resilience Act). We’ve got your back (up).
£3,000 + VAT fixed price for the first year, then £200 per month thereafter.
We love anomalies.
I’m Mike Southgate, I’ve been an MLRO for over 20 years. My co-founder Jamie is a former BBC R&D engineer, we make a great team. We’ve even build kit cars together.
We built Ermi because I was frustrated by the options available out there. I needed something that was fit for purpose.
I just wanted a simple tool for transaction monitoring—something that didn’t involve awkward demos, sales calls, or huge overheads. Most tools seemed built for big firms, not for people like me. Instead, I was thinking “Just give me a spreadsheet of flags. That will do nicely”.
A few years back, while we were fixing up a car together, I told Jamie all this. He said, “Why not build something that just does what we need?” So we did.
It turns out we were right to do so. We’ve now processed billions of dollars across millions of payments worldwide.
Now Ermi might not suit everyone, but for those firms who don’t want to spend £100k just to get setup, we’re here for you.
We like sticky problems and calls for support.
You won’t get through to a sales team. We’re Money Laundering Reporting experts who actually like hearing from you, whatever the question might be.
hello@ermitm.com