Case Management
Key Challenges
- Ability to consolidate at one location all the customer information, documents, review comments, findings pertaining to a case of a suspicious activity.
- Seeking opinions from relationship managers, operation managers, senior management, before deciding to file regulatory report for an investigated case.
- Establishing disciplined case management process through well defined workflow that is not limited to the compliance team alone.
- Responding to regulatory investigation requests quickly by furnishing all the information & documentation that is requested for.
Please fill-in your name along with email & press the button on the right and we would explain why these & many other challenges need to be addressed.
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KYCsphere Solution
If a single or a group of alerts need to be escalated for further investigation, these could be converted into a full-fledged case within KYCsphere's Case Management tool. Such a case would automatically pull together associated transactions, entity profile and submitted documentation. Additionally the case could be manually enriched with case review comments from managers across the institution, additional documents and scanned images obtained during the investigation process. The tool allows for seeking review comments and authorizations from senior management prior to generating regulatory reports for submission. In addition to a well defined work-flow, audit trail of every user action, including regulatory reports filed on the basis of an investigated case, is maintained.
The KYCsphere Case Management tool therefore is suited to automate manual investigation policies and procedures. It automatically queues and distributes investigation tasks, sends reminders for delayed tasks, maintains history & audit trail and monitors the entire process until completion. It makes the investigative process comprehensive, timely and efficient, while substantially enhancing the productivity of the compliance team. This feature-rich tool can give your institution market agility and regulatory flexibility without any capital expenditure and with the least of IT intervention.
Please fill-in your name along with email & press the button on the right and we would showcase to you how this could be achieved.
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Key Benefits
- It offers centralized electronic repository of all the information & documents pertaining to a customer's suspicious activity including customer profile & proof documents captured with the Customer On-Boarding tool; screening performed through Screening against Watch/Sanction lists & Adverse Media Research tools; risks calculated & due diligence performed with the help of Risk Management & Customer Due Diligence tools; alerts generated & past cases created by Alert Management & Case Management tools; associated transactions & look-backs of previous transactions monitored by Transaction Monitoring tool and suspicious transactions reports filed that are generated by Regulatory Reporting tool.
- Allows you to further enrich the case with review comments from managers from other departments, additional documents and scanned images obtained during the investigation process, customer interaction, audio & video clips, customer activity in other lines of businesses, customer specific regulatory investigation & government orders received.
- Seek review & authorizations from multiple senior management team members through a well defined workflow, prior to taking a decision to file a suspicious activity report.
- Create, assign and manage investigation-related tasks, create case ownerships, capture end-to-end audit trail and case history to ensure that the resolved case stands most severe of regulatory scrutiny & criminal investigation against any of your customers.
Please fill-in your name along with email & press the button on the right and we would help you to arrive at substantial cost savings by using Microsoft® Azure Cloud based KYCsphere.
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