As the majority of Galleries deal with clients they know well and have dealt with for many years, their priority is to ‘tick the right boxes’, to avoid fines, prosecution or losing a client by going about things incorrectly. Arcarta’s art-specific tools help you satisfy Anti-Money Laundering requirements, minimise any possible involvement from your clients, while workflows guide you through the Due Diligence process for private clients, companies, museums and more. Customer Due Diligence reports are created automatically and clients can send their documents to you securely, which are attached to your reports and risk assessments. In Arcarta, you’re also connected to other Galleries, Dealers and Auctioneers, making it easy for you to securely share or request Customer Due Diligence records, while Reliance tools permit client privacy which can be useful when dealing with or acting as an agent. As it is not uncommon for a Gallery to have had no prior experience in compliance, Arcarta’s ‘Virtual Compliance Officer’ provides access to insight and guidance during due diligence, to help you make smarter decisions. Arcarta will also tell you if a new or unknown client with whom you’re dealing has taken part in Due Diligence with another Art business, or has purchased Art or Antiques before making it helpful in qualifying any unknown enquirer. When you’re ready to invoice your client, secure invoicing tools keep you and your clients safe from cybercriminals and invoice interception where passwords fail, while the facility to accept card payments remotely allow you to transact with confidence, protecting you from chargebacks, international currency conversion and broker fees.
