At face value, compliance is a pretty straightforward process - at the end of the day, conducting correct due diligence is but a set of repetitive actions, based on pre-defined documented steps, both internal to the organisation and driven by regulatory requirements.
At face value, once again, one would safely conclude that the entire process is but a speed bump, a minor but required headache for both businesses and their customers alike.
The Aqubix KYC Portal is the industry’s most advanced CDD and AML data collection and collation platform that centralises and simplifies the customer due diligence process, reducing costs, customer touch points and overall duration – increasing efficiencies by over 60% across the board.
Integrating fully via web services with any data source, be it internal systems, such as CRMs, core systems and existing onboarding tools, as well as external 3rd party platforms such as screening services, KYC Portal allows for:
o The ability to identify uniqueness of subjects across the entire operation and its services
o The creation of one single record view per customer collating all the data across the entire aspect of the organisation into one consolidated risk view
o Creating a common compliance benchmark against which you could cross-research and anonymously query your processes
o The ability to standardise your regulatory processes across all the jurisdictions that you operate within, whilst still maintaining the single subject view
o Allowing you to automate internal risk appetite as part of the onboarding and ongoing process, totally eliminating human bias
o The automation of ongoing checks on subjects resulting in making reviews a formality – reducing the cost by 60% and your exposure to risk to mere days
o The instant application of changes within risk policies as well as mandated regulatory changes across all subject data
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