Getting proper data management in place is important because the data your organisation creates is a very valuable resource. One must ensure they also have a proper understanding of the data, starting from the on-boarding and capturing of the data
, to the ongoing processing of the data
. The last thing you want to do is spend time and resources collecting data and business intelligence, only to lose or misplace that information. In that case, you would then have to spend time and resources again to get that same business intelligence you already had. KYC Portal provides the operational capacity to automate and manage
the entire process from on-boarding relationship management all throughout the automation of ongoing aspects of KYC such as risk-based approach, reporting, document requests, automated risk-based questionnaires etc. giving you a centralised, due diligence workflow solution.
Having everything centrally managed
so that you can serve the various regulations and requirements from a risk perspective, is a key requirement in order to remain compliant. It is also vital to make sure you have consistent reporting
and having a system in place where you can react to further and future requests that are enforced by regulators. This is where KYC Portal comes in, with its fully dynamic regulatory frameworks
. The KYCP module called programmes
, allows the compliance teams to be able to define anything from review processes, definition of the
risk-based parameters, the dataset collected on entities, document requirements, workflows, rules, questionnaires, and much more… practically the entire ID&V matrix for each service, giving you a secure end-to-end data management system so that you are always prepared for both current and upcoming requirements.
Another important feature within KYCP is the ability of having a
solid data foundation across all entities and a holistic view
of entity exposure across all relationships, giving you a single customer view
via a fully dynamic, on-the-fly company structure chart (organigram).
Having a complete and automated data management system in place, is not only beneficial from a risk perspective but also from an operational perspective. KYC Portal maximises your operational efficiencies
by streamlining the process, by removing input from internal resources and having the platform interact directly with the subjects ahead of on-boarding, triggering human intervention only in the event of specific triggers and risk alerts. In turn, this significantly impacts the duration of the acceptance process, reduces touchpoints to the barest minimum, and as a result allows for greater numbers to be onboarded simultaneously with no bottlenecks, at significantly reduced internal costs in acquiring new customers.