Ongoing AML regulations require financial institutions to have appropriate controls to review and monitor customers who pose a high risk of financial crime. One of the key challenges is to identify, verify and monitor customer information, especially for those customers that were on-boarded before the new risk models were developed.
We have designed, developed and implemented automated financial crime solutions based on data intelligence and smart business rules, enabling automated KYC reviews for the majority of business customers.
With a bespoke build, feeds from any legacy systems can be combined with approved external data sources to monitor the full portfolio. High risk events and triggers are automatically identified for manual review, allowing resource to focus on high risk activity, while low and medium risk customers can be processed automatically, in line with a defined risk based approach that meets regulatory approval.
Automated identification of high risk customers and events in a timely mann
Accurate adverse media, PEP, sanctions and fraud screening with automated intelligence-led matching to significantly reduce false positives
Prioritisation of reviews to align to risk appetite and resource constraints
Automated KYC reports covering internal policy requirements
Automated identification of customer data alignment/discrepancies
Automated monthly monitoring of the portfolio and risk rating of events to automatically prioritise customers who need to be reviewed urgently
Enables an assessment of risk at a customer, portfolio or typology level