FINTRAC compliance isn’t optional or easy, and REALTORS® need to be confident in their anti-money laundering procedures and reporting processes. 

That’s where FINTRAC compliance tools come in. 

To help you find the right tool for your business, we recently asked a selection of companies offering tools designed to support you in meeting your FINTRAC obligations three simple questions: 

• Give us an overview of your company - who are you and what makes you unique? 
• What is the strength of your compliance tool and what sets it apart from the competition? 
• Is there anything else about you or your compliance tool that our members need to know? 

We’re sharing these interviews with you as part of a new article series. While GVR doesn’t endorse any of the tools we feature here, we believe there’s value in giving you direct access to the information so you can make your own decision. 

The second in our series is Iluminai. 

Give us an overview of your company  

In 2022, two UBC classmates, Friedrich Klaus (PoliSci) and Jesse Latham (Physics), created a new platform aimed at lowering operating costs for small and medium sized businesses.  

Both came from compliance and reporting solution backgrounds, and they teamed up after investigating the real-world performance of existing legacy tools at the brokerage level.  

Iluminai released its first tool in Beta in early 2023 at E&V Vancouver and launched as a full end-to-end solution in late 2024 at Canada's largest independent brokerage Right at Home Realty in Toronto.  

Iluminai is the fastest growing brokerage solution in Canada and is used by over 12,000 Canadian agents and their brokerages and launches internationally this fall. 

What is the strength of your compliance tool and what sets it apart from the competition?

Iluminai is the only true end-to-end FINTRAC AML/KYC solution for brokerages large and small. It eliminates 80 per cent of the wasted effort from FINTRAC Compliance at the brokerage and admin level. Founded in 2023, Iluminai is today the national compliance partner of The Sutton Group, Royal Lepage, Engel & Völkers and CBRE. 

Is there anything else about you or your compliance tool that our members need to know?

Iluminai’s compliance suite automates laborious compliance tasks like KYC, reporting, and business relationship monitoring, reducing the burden on agents, brokers and admin teams.  

Our dashboard provides an overview of present and future compliance needs, evolving risks while at the same time guiding the user through common workflows to produce mandated compliance outcomes.  

Iluminai streamlines FINTRAC audit prep while at the same time integrating with FINTRAC’s web filing platform to file STRs directly.  

It seamlessly integrates with major Canadian back-office platforms like NexOne, RealDesk, DealManager, and is compatible with common legacy American platforms

Website: www.ilumin.ai  

Email: sales@ilumin.ai