KNOW YOUR CUSTOMER
Optimizing Your Business with KYC Solutions and Process Excellence
Services
KYC solutions are crucial for verifying customers' identities, understanding their financial activities, and assessing the associated risks. This process is an essential part of banking procedures. It is usually carried out before establishing a new relationship, opening an account, or changing signatories, mandate holders, or beneficial owners.
KYC is also essential for corporate clients. It is critical to have a comprehensive understanding of the client's legal entities, relationships and any negative news related to the corporate client.
Customer Identification Program (CIP) initiated where a new/existing customer’s information is collected and verified.
Risk Assessment, known as Customer Due Diligence (CDD), is carried out. Client is classified as low-risk, medium-risk, or high-risk.
If a client is identified as high-risk during CDD, Enhanced Due Diligence (EDD) is initiated and contract terms are modified accordingly.
Our teams guide telecommunication enterprises across TM Forum’s telecom application map (TAM), neutral architecture (TNA), business process framework (e-TOM), and information framework (SID). We have valuable experience and expertise across capabilities from gap analysis to master data consolidation.
Party Data Consolidation
KYC Platform provides a holistic view of a customer’s activity and risks. This translates to better risk management and an enhanced risk assessment, which enables the offering of multiple services or products to a particular financial entity and other customers affiliated to it.
Beneficial Owner (BO)/Ultimate Beneficial Owner (UBO) Identification
Identify BOs/UBOs for an entity and help curate and enrich the associated BO/UBO attributes for AML/KYC analysts.
Third-Party Data Integration
The platform has the ability to effectively integrate with external third parties to process and enrich KYC data for an entity.
Reaction to External Events
The platform has the ability to proactively respond to external news events (positive/negative) related to a client and use the same to re-calculate the risk score and recommend the overall impact of the news on the bank/financial institution.