KYC
Compliance
Solidify important banking relationships, limit risk with authorities and safeguard channel relationships through the process of Knowing-Your-Customers.
Eliminate Errors, Reduce Biases and Accelerate Cycle Times
Know Your Customer, alternatively known as know your client or simply KYC, is the process of a business verifying the identity of its clients and assessing their suitability, along with the potential risks of illegal intentions towards the business relationship. 319 InSight has been designed from the ground-up to be a fully reconfigurable, customizable environment. This allows each client to maintain the right business policies and procedures for them centered around KYC Compliance and automate them fully in an end-to-end solution.
KYC Compliance Highlights:
- Fully Customizable Customer Intake Forms and Questionnaires
- Embedded Screening
- Automation of Enhanced Due Diligence Processes
- Logic to enforce the proper channels for review & approvals
- Cycle time accelerators such as auto-approvals, reminders and exception processes
- Easy to use interfaces, multi-language availability for global support
- Connection to systems such as Salesforce.com to enable higher levels of automation and data integrity
- Routing to enterprise-wide departments to establish credit lines, account setups, and feedback forums
Key Benefits of
KYC Compliance with 319 InSight
Unmatched Agility to
Support Changing Regulations
Flexibility to Automate
Any Exception Process
Unparalleled Precision of
Data Collection & Analysis
Compliance business processes are becoming more complex each year
Mengqi Sun of the Wall Street Journal summarizes this phenomenon brilliantly in his piece, "Changing Role of Corporate Compliance Calls for Communication". He notes:
"The traditional tasks of compliance—minding sanctions, defending against bribery and money laundering—are increasingly complex. Corporate culture and executive conduct are testing compliance officers in new ways. At the same time, the geopolitical backdrop is ever more treacherous."
"As a result, compliance departments are taking on new responsibilities or working more closely with other departments to determine how to monitor and mitigate emerging risks..."
As a result, it is a must that your compliance platform is reconfigurable. A reconfigurable platform allows for quick, easy and continual modifications to its data capture, users, portals, dashboards and reports as needs evolve, without interrupting business operations whatsoever. Its unique architecture provides for configuration rather than development; significantly reducing the cycle time to deploy, update and enhance its functionality.
319 InSight is the market leader in reconfigurable technology, and prides itself on its ability to automate any compliance business process across the enterprise.