Know Your Customer (KYC & KYB)
Our KYC Solution is an end-to-end, global, customer on-boarding and identity veriﬁcation solution that can be used in different ways.
It is most used by clients who wish to meet their Know Your Customer (KYC) and Know Your Business (KYB) responsibilities and those subject to Anti-Money Laundering & Counter Terrorism Financing (AML/CTF) legislative obligations.
It’s reasonably easy to onboard individuals (which we do), however where we shine is in onboarding the more complicated customer types, such as companies, trusts, joint accounts and partnerships.
We help you to see through legal structures to understand complex legal hierarchies. We automate the process of identifying the directors, shareholder’s, and the Ultimate Beneﬁcial Owners (UBO's). Within seconds, you will understand how complex a structure is, exactly what’s in it, and how many layers there are (across and down).
All customers are checked against multiple PEP, terrorist and sanctions watch lists and for negative news.
Customer Life-cycle Management and Ongoing Customer Due Diligence
We make it easy for you to monitor your compliance obligations over the entire lifecycle of the customer and to meet your ongoing customer due dilligence obligations.
Know Your Supplier
The KYC Solution is also used by entities to see through their suppliers and counterparties. Companies need to engage suppliers that they can trust, those who will adhere to their compliance obligations and risk tolerances and which share their values and ethics. Companies need to know exactly who they are dealing with and whether they are bona fide.
Once you know who your customer is, you are also able to run a credit check and full credit history for the customer.
Automation is the Answer
It’s extremely difficult to manually onboard customers and suppliers. Manual processing is fraught with errors, it is costly, inefficient and very time consuming. Automation is the answer. Automation is quite simply the diﬀerence between complying and not complying, between getting a client and losing them.Adherence to the highest standards of compliance is inherent in our automated solution.