Customer On-Boarding
Key Challenges
- To capture customer data comprehensively to assess the true potential of long-term business relationship, right at the customer on-boarding stage.
- To identify high & ultra-high risk potential customers, so that only better risk managed customers are accepted.
- To speed up customer on-boarding so as to ensure that unattended ones do not wander off to competition.
- To efficiently furnish all information and reports required by regulators in spite of limited customer profile data captured and frequently changing regulations.
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
KYCsphere's Customer On-Boarding tool allows you to capture the customer profile data comprehensively, making your institution straightaway KYC & associated regulation compliant. In addition to meeting your country's regulatory requirements through the intuitive processes of this tool, it enables you to identify risky customers and associated financial crime risks at an early stage of customer acceptance.
On the flip-side you could run additional analytics to be able to assess the true business potential of customer relationships and recommend products & services suitable for them. Thus the tool serves as a gatekeeper to protect your institution against fraud, money laundering, corruption induced & other financial crimes, financing of terrorism etc. 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
- Avoid manual processing of new customer application process, thus adding to agility of your business.
- Build centralized customer master data to be shared by your other business applications to avoid duplications & errors. You could further run a host of analytics including customer suitability for products offered, quantifying business relationship potential over the customer life-cycle, etc.
- Proactively, protect your institution from extreme risk of criminal activities and from reputational damage.
- In conjunction with KYCsphere's Screening Tool, conduct regular checks against sanction/watch-lists initially during customer acceptance and subsequently over the ongoing customer due diligence process to better manage high-risk customers such as High Net Worth Individuals (HNI), Non Residents (NR), Politically Exposed Persons (PEP), while denying access to ultra-high risk individuals & entities including defaulters, fraudsters, criminals and terrorists.
- Along with KYCsphere's Due Diligence Tool capture & screen sources of funds, ultimate beneficial owners and other individuals associated with legal entities.
- Monitor actual customer behavior against initially captured expected behavior, based on profile data, frequency & size of transaction. This would help in identifying suspicious customer behavior to be further investigated.
- Manage your jurisdiction based documentary proofs to be captured for each category of individuals & entities. Further maintain customer furnished ID & Address proofs and other documentation along with verifiable audit trails in a central repository that is instantly accessible during due diligence and regulatory inspection.
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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