Multiple profiles in AML Screening

July 24, 2023

One of the most crucial elements in the orchestration of data within KYC Portal is the ability to integrate the third party sources that provide screening data for PEPs, Sanctions and Adverse Media. The new feature is focused on allowing even further flexibility in the integration with such providers to achieve further benefit in internal efficiencies.

When setting up a screening service provider in KYCP, one would need to configure the setup of the chosen third party (such as Refinitiv, Dow Jones, Acuris or Lexis Nexis). The settings are done at third party level (such as the threshold of accepted open matches as well as the categories listed by the provider. The settings also include elements such as setting up the monitoring daily, when the search has to happen (such as on first save only or when the screening fields are changed), as well as the ability to set recurring auto searching based on number of days.
KYC Portal CLM
Separate from the above the solution then allows you to define how KYC Portal CLM should act on such screening based on complex rules or type of entity. As for the latter, the customer can decide to place entities of type UBO and Shareholder on a daily monitor but all other entities to be searched once every 90 days, for example. The rules are more complex and allow for very specific detail such as the ability to differentiate on the risk of the application or fields within the entity.
KYC Portal CLM 
The new feature allows for the application of multiple screening profiles even using the same third party supplier. Within a screening profile one can add the following: 
  • Selecting the third party provider and the account given
  • Assigning a profile name
  • Setting the search threshold for a Legal Entity
  • Choosing the categories that you want to include for a Legal Entity in this profile
  • Setting the search threshold for an entity of type Natural Person
  • Choosing the categories that you want to include for a Natural Person Entity in this profile
 KYC Portal CLM
This level of flexibility is beneficial as it leads to greater flexibility when it comes to setting the parameters. One can set legal entities to be searched only for specific categories whilst natural persons on others. One can setup the profile with all categories only for HIGH risk subjects whilst LOW risk subjects are only checked for Sanctions. The benefit of such flexibility is that of increasing your risk control measures whilst reducing the operational cost of maintaining such risk.
KYC Portal CLM 
IMPORTANT to highlight: the above settings of profiles is only applicable to the SEARCH (manual and auto). To apply similar settings on the monitoring side of KYCP we would need to assist technically to add the configuration at server level.
For more information, contact us directly on or schedule your live demo with us today. If you are an existing client and you would like more information about this feature, please contact our CRM Team.
Targeted For Compliance teams and managing their counterparts
Status LIVE
Keywords screening, AML, KYC, real time monitoring
Direct Benefits Ability to run real time monitoring of subjects based on the results from a different number of sources and criteria