Know Your Client Services
Partnering with you during the onboarding journey
Know Your Client (“KYC”) requirements are increasingly gaining attention by supervisory authorities and regulators, as part of the wider, collective efforts to ensure proper counterparty identification. Stricter obligations are being imposed on organizations globally, as part of the broader Anti-Money Laundering (“AML”) regulations, and industry players are nowadays expected to implement a comprehensive and strategic KYC operational model.
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Your challenge
As part of this model and considering the number of counterparties onboarded every day, executing the KYC operational procedures internally can increase the cost of ownership (technology infrastructure, procedures, manpower) as well as the administrative burden for your organization. In addition to this, the associated regulatory framework is complex and is constantly evolving so maintaining the execution internally results to extra costs from the need to employ specialized resources.
Our response to your challenge: Know Your Client Services
On behalf of your organization and for each of your prospective counterparties, we will:
- Collect the KYC data
- Review for completeness
- Store the data in market leading sophisticated software solutions
- Perform real-time screening, utilizing well known, market leading databases and covering 240 countries
- Monitor the screening results overnight and update relevant profiles and scoring in real-time
- Monitor and review the documents collected
You get a completed Counterparty Onboarding Checklist, assisting you in relation to the decision making for accepting the counterparty.
Maintaining decision making in relation to counterparty onboarding.
Key benefits for you
- Peace of mind in relation to KYC operations
- Free up resources, allowing them to focus on business needs
- Centralize KYC operations, allowing you to have an oversight role
- Achieve regulatory and operational compliance
- Improve KYC data management and traceability
- Significant decrease of “false positive” alerts
- Reduce administrative burden
- Minimize operational costs
- Optimize customer experience
- Minimize operational risk
Our Added Value
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