Throughout the development of the actual tool, we sat through a number of workshops with a number of banks to gather the requirements within this sector. This helped us in creating a platform that allows for all the due diligence processes across the various arms of a bank.
KYC Portal is built to allow a bank create various programmes catering for the various services it offers such as personal banking, business banking, investment and fund services, wealth management and international clients. Each of these programmes have specific requirements each of which dictating their own type of entities, scoring mechanisms, questionnaires, document types and related material.
One of the most powerful features for the banking sector is the automated generation of a relationship organigram per entity in your application. No matter how complex the relationship is, KYCP can generate the relationship of a specific entity across all the programmes of the bank.
KYCP adds a lot of value to the banking sector considering the volume of transactions that banks handle every single day. The automated notification system allows the bank to focus on the actual handling of the due diligence process whilst the system automatically alerts on the actions that need to be tackled such as expiry of documents, alerts of screening services and also the upcoming review dates for verified applications.