Knowing your customer is NOT an option
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process 2


Integrated Risk Classification for New and Existing Customers
Know Your Customer (KYC)

Customer acceptance is the first step. Due to statutory requirements (e.g. U.S. Patriot Act, Bank Secrecy Act, EU money laundering directive)

Banks are obliged to gather audit-proof information for natural and legal persons along with their beneficial owners and use this data for risk classification. If the risk incurred through the customer relation is too high the bank must reject the customer.

ACCEPTANCE

Flexible integration with existing customer acceptance processes

COMPLIANCE

Compliance with statutory due diligence for risk-based customer acceptance

QUESTIONNAIRES

Designer to create dynamic customer acceptance questionnaires

DUE DILIGENCE

Customer information is matched with sanction and watch lists to identify criminals, and with PEP databases

LEGAL ENTITIES

Automatic retrieval of the beneficial owner for legal entities

RISK

Real-time risk classification through default and customizable rules

SECURITY

Interface to research systems to detect deviations from the initial "intentional" description and the actual behavior of the customer

BANKING

Standardized data interface to the core banking system to check existing customers

START KYC COMPLIANCE

Knowing your customer is not an option.