Ermi for startups: Prepare for a licence with straightforward transaction monitoring.

Ermi offers the perfect system for start ups who need to show the FCA that they’re ready to play. Keep your costs down.

You don’t need to pay unnecessary fees for something you’re not ready to use yet. Ermi starts small and simple, and grows with you in time.

Get started with our £6,000 set-up package, with no time limit.

Let’s get started. Speak to an MLRO

Easy to get set up

Ermi is perfect for start ups as she’s easy and fast to integrate. She just works with basic spreadsheets. We could even have you up and running within a day.

Generous advice

You don’t need to be an expert. We’ve helped dozens of firms go through this process. We’ll give you training, resources and support along the way.

Fixed at a low price

There are no extras, no add-ons and no hidden costs, so you get to keep your capital (and your data). It’s just a simple and yet sophisticated system that’s built to be fit for the stage you’re at.

We grow with you

You can’t outgrow us. We’re tested up to 100,000,000 transactions a year (which Ermi analyses in minutes), with more in reserve if you need it. We can keep up, whatever you do.

What we give you.

Everything you need to get ready to play:

  • Letter of confirmation The letter confirms that you have a monitoring system in place. This assures the regulator that you have access to the right tools.
  • The due diligence pack Use our template as part of your licence application to get you started. We provide you with a base template that can be amended to your business.
  • A policy template Use our template as part of your licence application to get you started. We provide you with a base template that can be amended to your business.
  • A fit-for-purpose ruleset, out of the box. We give you every rule you might need, ready for you to get started. You might even want to customise them as you grow.
  • Support from a top-tier MLRO Get your compliance model validated. We talk you through the process and find the best fit for you.
  • Let’s get your data flowing Get insights into your data from day one. Ermi gives you insights into what's happening by providing you with management information, such as who your highest payers are.

Our rulesets

Ermi has rules perfect for Startups:

New payer rules: As a new firm, you will have a lot of new clients with limited trading histories. Monitor these more closely with our specialist New Client rules to ensure your business gets off to a good start.

Outlier Payments: Even without established history, our outlier payment rules can detect exceptionally high transactions. Split out by Individuals and corporates, and tuned based upon your clients AML risk scores.

Country Risk Rules: Out of the box high risk country rules designed to flag exposure to countries with poor AML controls as specifically designed under FATF AML guidance

Pricing

Practical and affordable transaction monitoring to help you get your licence.

We made Ermi because you don’t need to pay over the odds for a tool you’re not fully using (yet).

£6,000 + VAT.

Speak to an MLRO to find out how to get started

Have you already got a licence?

If you’re ready to move to daily or weekly running, or want to explore ways to customise your ruleset, then you’re ready for the next level.

Explore the ways that Ermi can grow with you.

Being a startup can be tough. The FCA wants you to submit your application and be “ready to play”. That means you need to get systems, policies and procedures in place to give them evidence that you’re ready to start.

In my own experience in a startup, this has meant entering into contracts with vendors and paying sizeable setup fees to integrate with their systems. They knew full well that I wouldn’t use them until a licence was granted, which could take years.

Vendors often provide little or no support. They expect me to customise their platforms and build out my own policies and procedures, all whilst having no access to a working platform to help me.

So we’ve developed our own process to help startups reduce their costs and give them the support they need to get up and running.

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