Many firms conduct KYC/customer due diligence (CDD) using outdated systems that require substantial manual effort and produce a high level of false positives resulting in added operational expense. Firms also face increased regulatory pressure through new requirements and expectations of lowering false positives.
Goals and Objectives
Verify institutional and retail investors and meet and exceed regulatory requirements for more detailed customer information and detailed information about beneficial ownership of corporate accounts.
Real-time data analytics to analyze new client applications, AI/ML, Natural language processing, Robotic process automation, Scenario modeling
Use Case Summary
Digital KYC onboarding of institutional and retail investors use current technologies and solutions to streamline compliance processes and eliminate manual interventions, lower false positive rates, and improve customer experience.