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KYC AND ONBOARDING

Build, Enrich and Maintain a Singular View of your Clients

The regulatory scrutiny to create and maintain precise KYC data drives investments in today's KYC and AML efforts.  The only effective way to meet these requirements is to automate the collection, verification and enhancement of customer data. Valuable time, cost efficiencies and time to revenue result.

 

Use Cases:

  • KYC CIP assembly
  • Client data verification
  • UBO analysis
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Addressing KYC/Onboarding Complexity

Onboarding processes are becoming increasingly complex, as a result of heightened regulatory expectations (4th MLD) and increased sophistication of financial products and services. This complexity is compounded by the potential from not adhering to regulatory requirements, the cost of such processes and the negative impact on the customer experience. 

As a result, many KYC teams don’t even bother trying to follow a KYC process, but just demand their front-office acquire the needed information. 

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Comprehensive KYC & Due Diligence

Arachnys /Spotlight delivers a complete solution for KYC and onboarding.

  • It generates entity relationship determination & verification via externally sourced data
  • It enables interrogation & determination of entity relationships
  • Performs entity beneficial ownership verification
  • Entity list management
  • KYC/Onboarding CIP profile assembly
  • Entity profile sanctions list screening 

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Firm Benefits

  • Beyond revenue acceleration, which is important, /Spotlight provides a level of understanding of risk to determine how gain more market share
  • Enables transparency of previous decisions in order to justify rationale to regulators
  • Manual effort reduction through an automated search process, which adheres to your search policy
  • Search quality is improved by ensuring that primary sources are used whenever possible
  • Complete process audit and traceability
  • Cost savings via automation, QA and QC Management savings, more controls and reducing the likelihood of remediation projects
  • Integrates directly with Arachnys solutions for Risk Assessment/EDD and Periodic Review, providing an end-to-end risk management solution, driving uniformity, efficiency, operational cost savings and improved time to revenue BOX

SECURE

Able to avoid being harmed by any risk, danger or threat

AUTOMATE

Methods for automatically controlling processes, especially online

TRANSFORM

To make a thorough or dramatic change in form, appearance, or character

COMPLY

To act or be in accordance with wishes, requests, demands, requirements, conditions, etc.; agree