now starting to get used to the “new normal” lifestyle, as social distancing
has become part of the way we live and the way we expect certain things to
happen. We will now start to choose contactless transactions in everything we
do, from something as simple as online shopping to a more serious task such as
opening a bank account.
previously mentioned, we are seeing a new spike in demand for advanced
technology and digital transformation, that allows the on-boarding and on-going
process of KYC and AML to continue seamlessly and remotely. KYC Portal focuses
on giving clients the ultimate customer experience through the many innovative
features within the system.
Our main feature is the Customer Outreach Tool (COT), the on-boarding module within KYC Portal
that allows external subjects, be it corporate structures or individuals, to be
able to on-board themselves. The system presents the user with a guided
three-step approach, all the information is presented to the user in a neat and
simple form, which is dynamically maintained by the organisation itself.
Another very important feature within this module is the ability to remove the
dependence on email as a form of communication, allowing the end user to chat,
conduct audio calls and face-to-face calls through the system itself, in case
they encounter any problems during the on-boarding process or have any queries
regarding their application.
Customer Outreach Tool not only benefits the customer, however also the
organisation itself; as clients are filling in the questionnaires and uploading
all their relevant documents, KYCP is doing all the leg-work in the backend.
Based on the data that the customer is filling in in the first step of the
guided KYC approach (forms), the system is in real-time calculating the risk
being perceived. According to the risk perceived in the first step, the system
dynamically changes the requirements for the next steps (documents and
questionnaires), based on the defined enhanced due diligence process set in
KYCP. When a client submits an application; all the data, forms, documents and
related material is passed on to your KYC Portal with the risk already
calculated. Upon receipt of such applications, KYCP then allows you to automate
the next steps using the workflows engine based on risk and data supplied.
As you can see, KYC Portal streamlines and simplifies the on-boarding process to be done 100% remotely and at the same time being automated and controlled in the back-end of KYCP, increasing the efficiency of your compliance team.
KYC Portal is one of the most complete end-to-end lifecycle management solutions, catering for all the steps in the entire process and centralising the entire process flow involving all parties into one communal portal. Not on-boarding new clients during this pandemic is not an option for most, and on-boarding new clients without proper due diligence is too much of a risk, so get in touch with us today to learn how we can collaborate during these challenging times.
Schedule your live online demo with our team today.
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