integration allows KYC Portal to automate the monitoring and automated
searching of entities on an ongoing basis. Clients can configure KYC Portal to
define daily monitoring on all of their entities that expose them most to risk,
whilst limiting other subjects to periodic screening. This leads to more
efficiency in internal processes whilst reducing risk exposure. Such an
integration also allows customers in automating the lifecycle of the
counterparty based on the type of MATCHES that are happening. Each MATCH could
have different aspects of risk based on it being a PEP, Sanction, Insolvency or
any other category that the third party provides.
feature in KYCP now retrieves VESSEL information from third parties that
provide this data. There are various providers who provide vessel data. This is
now returned within the searches relating to the entity one is searching or
results of type ORGANISATION and INDIVIDUAL, VESSEL related results will show
up as a separate entity clearly showing the associated risk relating to the
subject you are searching. The user can view the detail of each result
allowing them to decide if it is a MATCH or NO MATCH.
searching of such information can be done in KYC Portal both if one creates an
entity of type VESSEL in the structure chart of the solution, as well as if
there are vessel results in the third party that are associated to the
organisation or the individual that one is searching.
feature gives more context and detail to the risk exposure of parties within
your structure in KYC Portal CLM. This aspect of risk has increased further
over the past months due to the sanctions that are being imposed due to the
current economic and political climate in Russia and Ukraine.