The Arachnys 2021 AML/KYC Data Survey Report
Building on the great insights of our 2020 survey, we invite you to dig into our 2021 report. As well as compare data trends between years, we also introduced some new questions such as which near-term goals compliance professionals are
Leveraging STP in KYC
In KYC and AML, data forms the bedrock that important decisions are based on. Without uniformity in that data, it is very hard to move beyond the manual data processing that is undertaken in even the simplest of tasks,
How to accelerate onboarding and improve CX in business banking
The race to differentiate continues to put the banking sector to the test. As Fintech entrants push through barriers to create exceptional digital experiences, all banks are running a race to create innovative customer products and experiences. Part of
Advanced Adverse Media Screening & Monitoring for South African Banking Group
Challenge South Africa has strengthened its anti-money laundering (AML) regulations in recent times, but it is still losing between $10 billion and $25 billion a year in illicit financial flows. In 2020 inter-governmental regulatory body the Financial Action Task Force (FATF)
KYC Entity Enrichment
From initial onboarding for a new business account, through to the periodic review of that entity thereafter, all banks have challenges around validating new customer data, resolving the information, and maintaining that data over time. Onboarding a new fund slowly
Intelligent data for correspondent banking and payments AML
AML is hard at the best of times. When you are facilitating transactions on behalf of third-parties, it’s even harder. With no KYC context to draw on, and often poor-quality input data, numbers of investigations can overwhelm the best
How a European Corporate Bank achieved perpetual KYC
Challenge We’ve been working with a customer who year-on-year were struggling to get through their periodic review cycles. Whether done internally or through an outsourced partner, the KYC refresh exercise was putting a significant burden on the organisation. The process practically
Achieving Perpetual KYC
How close is the financial world to achieving perpetual KYC? Oliver Wyman shared with us their Global KYC benchmarking study on Global Banking & Markets KYC, which has found that the overall onboarding time for corporate banking customers is a staggering 90-120 days. In
CIP completion
Using the Rules API and the Unified Search API you can quickly set and implement policies to flesh out an entire complex KYC task, including network resolution and UBO buildout. CIP has three major components: Source discovery Search Data reconciliation Source discovery Source