Fatih Coşkun of Sanction Scanner tells us about transaction monitoring software that provides cost-efficient AML solutions that all-size businesses can use.
First of all, how are you and your family doing in these COVID-19 times?
Fatih Coşkun: My family and I never got the virus. Of course, we are affected negatively, especially psychologically, but we see ourselves as lucky for the health side.
Tell us about you, your career, and how you founded Sanction Scanner.
Fatih Coşkun: I am a computer engineer. After my graduation, I worked in global companies for several years. Then I decided to start my own business to produce software for financial companies. That is how Codevist Technolgy was born. After two years, we launched the Sanction Scanner.
How does Sanction Scanner innovate?
Fatih Coşkun: Sanction Scanner is an anti-money laundering solutions provider established in 2019. We aimed to provide cost-efficient AML solutions that all-size businesses can use.
How does the coronavirus pandemic affect your business finances?
Fatih Coşkun: The coronavirus has changed the financial sector considerably. AML crimes and penalties in this context have increased, as fully online-contactless payments have been introduced and cash usage has decreased significantly. Regulations have become stricter, and companies have had to invest more in AML solutions. With the transition to remote work, the company’s systems were negatively affected, and the decision-making speed slowed down. However, we can say that the process did not adversely affect our company in general.
Did you have to make difficult choices regarding human resources, and what are the lessons learned?
Fatih Coşkun: During the pandemic process, we did not make layoffs. On the contrary, our team is growing day by day, and we are pleased with it.
How did your customer relationship management evolve? Do you use any specific tools to be efficient?
Fatih Coşkun: Since we do business globally, our customer relations were generally online, and it continued in the pandemic. We carried out our offline programs online, but this did not cause a big problem. The tool we use for customer relations is Hubspot. We run our marketing and sales activities from here.
Did you benefit from any government grants, and did that help keep your business afloat?
Fatih Coşkun: We did not receive any government grants or incentives. We grow entirely with our resources.
Your final thoughts?
Fatih Coşkun: Finally, the most important thing we learned during the COVID-19 was the importance of health. We are all in this together.
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