Until one gets to see the product working, you instantly
assume that KYC Portal is yet another screening service system that provides
you with the data relating to PEPs and sanctions. If you work in this line of
business, most probably you are already using a service provider as such and you
don’t plan on changing them (unless you are really not happy with the service
they are giving you).
KYC Portal does not provide such data services. It hooks up
to almost any provider in order to automate the process of KYC in its entirety
and not only focus on a small step of the entire life-cycle.
KYC stands for Knowing Your Client (customer, supplier,
business etc.). What is crucial here is the “ing” in Knowing. KYC is a journey
that starts from the first day the subject contacted you, through on-boarding,
through risk evaluation, all the way throughout the years that subject will
remain your client. An ever-evolving process that takes time and resources.
Having a supplier to check the status of such subject is only a fraction of the
entire cost and workflow of the entire KYC process.
KYC Portal is the most complete end-to-end KYC solution on
the market. Catering for all the steps in the entire process and centralising
the entire process flow involving all parties into one communal portal.