Smart KYC Remediation
Complete KYC profiles faster, reuse data across teams and reduce onboarding costs
Regulatory pressure to clear KYC and AML backlogs has long created a huge burden for financial institutions. Remediation work is typically deemed expensive, lacking in quality, difficult to forecast and control, and hard to reuse.
The Problem
Financial institutions need to be able to quickly screen, verify, and identify complex business customers as part of their remediation process or face severe penalties from the regulator.
Rapidly changing regulation can lead to bulk de-risking of entire customer segments due to the manual and time-consuming remediation process required.
Banks need to vastly accelerate the validation and enrichment of entity profiles for onboarding, periodic review and transaction monitoring alert clearing.
The Arachnys Advantage
Faster entity resolution
Leverage existing data
Reduced manual effort
Identify UBOs
Rapid deployment
Easy integration
Features

White Paper: 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 this white paper, , we look at how banks can reduce onboarding times, KYC refresh costs and improve the customer experience by leveraging better technology and automation across the three pillars of data:
- Driving efficiency with self-reported customer data
- Using automation to capture & screen external data
- Reducing risk through monitoring transaction behaviour
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