Automated KYC solutions for CIB
Global penalties for non-compliance with Anti-Money Laundering (AML) and Know your Customer (KYC) processes have hit and all time high for financial institutions. Regulatory pressure combined with cost cutting means corporate and investment banks are required to reduce financial crime, improve customer onboarding whilst simultaneously reducing overheads and increasing efficiency across teams.
Arachnys have deep domain expertise in working with corporate & investment banks to provide cloud-based solutions that align with their risk policy and reduce the burden of manual, laborious and inefficient processes.
Backed by unparalleled global data sources, we provide the tools to help you automate and accelerate manual effort in supply chain due diligence, customer and vendor onboarding, monitor adverse media and mitigate reputational risk.
Industry Problems
The average onboarding time for corporate banking customers is a staggering 90-120 days (Oliver Wyman's Global KYC benchmarking study on Global Banking & Markets KYC).
Global penalties have reached USD $36 billion for non-compliance with Anti-Money Laundering, Know Your Customer and sanctions regulations since the financial crisis.
KYC teams are having to perform laborious, repetitive and highly manual processes, across siloed data, to keep up with a backlog of traditional KYC periodic review cycles.
Arachnys Solutions
Automated AML & Investigations
Automated KYC & Onboarding
Automated Enhanced Due Diligence
We channel data into your ecosystem
We act as a single lens, accessing and enriching the best KYC & AML data from global sources, which connects your compliance ecosystem to the data you need to make more confident compliance decisions.
Benefits
Features
How we helped a tier 1 investment bank avoid $100M of remediation costs
One of the world’s largest investment banks needed help with ‘top up’ research; their clients expanded across new geographies, and their KYC files needed to meet new country-specific regulatory requirements across more than 150 jurisdictions. Learn how Arachnys helped them achieve complex customer profile enrichment, reduced from days to hours in a single working environment.
Follow our AML & KYC Blog
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2022 Financial Crime Market Outlook | Africa & Middle East
In this part of our global anti-money laundering outlook, we are delving into Africa and the Middle East and what is to come this year. The Middle East and Africa anti-money laundering market is projected to register a CAGR of
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2022 Financial Crime Market Outlook | Latin America
Welcome back to our 2022 outlook on the AML industry across different parts of the world. In this part, we’re looking at Latin America, where there is a dire need for compliance teams to step up their AML efforts to
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2022 Financial Crime Market Outlook | APAC
Our next foray into the complex financial crime compliance industry is looking into APAC. In a report published by Business Market Insights, the APAC anti-money laundering market is projected to grow from US$377m in 2019 to US$1.7bn by 2027, as