KYC/KYB Knowledge & training What is KYB (Know Your Business)? In most global jurisdictions, the Know Your Customer (KYC) process is a foundational component of AML/CFT regulations. KYC requires banks and other financial services providers to establish and verify the identities of their customers in order to assess the money […] 5 minute read
Transaction monitoring Lending Customer stories Finiata significantly reduced manual workload and time spent managing alerts. The speed and ease of integration allowed Finiata to start managing their risks more quickly and efficiently. 1 minute read
AML compliance Reports Customer Screening: Maximizing Effectiveness and Efficiency Report Customer Screening: Maximizing Effectiveness and Efficiency A Balancing Act If companies aren’t strategic in their approach to customer screening and monitoring, they risk being overwhelmed with alerts. Those companies face high operational costs, a nearly-impossible-to-clear backlog of alerts, longer remediation […] 1 minute read
KYC/KYB Reports A Guide to KYC Solution Providers - Celent 2020 A Guide to KYC Solution Providers Celent 2020 – Analyst Report Know Your Customer (KYC) compliance is attracting increasing scrutiny from regulators, making it one of the most complex and fast-growing fields in the AML compliance value chain. This report […] 2 minute read
KYC/KYB Knowledge & training Challenges of Remote Working and Client Onboarding Remote working presents unique problems for due diligence in general and client onboarding in particular. Firms will need to address and codify new guidelines so as to ensure consistency and effectiveness of any temporary internal know your customer (KYC) processes. […] 6 minute read
KYC/KYB Knowledge & training What is customer due diligence (CDD)? In order to understand the money laundering risks that they face, banks and financial institutions, and obligated financial service providers must verify the identities of their customers, and the nature of the business in which they are involved. The process […] 7 minute read
KYC/KYB Knowledge & training What is know your customer (KYC)? Know your customer (KYC) is the process financial institutions (FIs) use to verify their customers’ identities and inform compliance risk assessments. KYC is a foundation of anti-money laundering and countering the financing of terrorism (AML/CFT) compliance in jurisdictions worldwide. Given […] 7 minute read
KYC/KYB Knowledge & training KYC: 3 Common Pitfalls and How to Avoid Them When people talk about conducting KYC checks, they’re probably referring to the process that takes place at onboarding, i.e. identifying your customer and verifying that identity. But the problem for most businesses, is that a quick identity check isn’t going […] 5 minute read
KYC/KYB Knowledge & training How a KYC risk rating can help your ompany If you are involved in the financial or business sectors, it is important to know both what a KYC risk rating is and how you can calculate yours. KYC, or “know your customer”, is an important process that allows financial […] 4 minute read
KYC/KYB Knowledge & training The importance of KYC remediation If you are familiar with the financial industry, you have likely heard the phrase “know your customer”, which is often referred to as KYC. KYC is an important practice in business and finance, as it allows institutions to ensure that […] 3 minute read
KYC/KYB Knowledge & training How electronic identity verification helps fight financial crime As criminals develop increasingly sophisticated methodologies to launder money, commit fraud, and fund terrorist activities, demand for effective AML/CFT software grows. Financial crime is a global threat meaning that banks and financial institutions must ensure they are able to accurately […] 4 minute read
