KYC Portal is not
another data provider. KYC Portal is the most complete end-to-end KYC and due
diligence solution on the market. KYC Portal focuses on automating the
operational aspect of compliance and due diligence, both from and on-boarding
perspective as well as the on-going concern. What is usually done manually by teams
of staff in order to constantly ensure that all is in place is done by KYC
Portal in real time.
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. KYC Portal is an entire solution catering for all the steps in the process of on-boarding subjects and then all the functions that are needed throughout the on-going aspect of CDD. It hooks up
to almost any provider of data services that you might be using in order to automate the process of KYC in its entirety. The data services of validating documents, checking for PEPs, sanctions and similar services are only a very small fraction of the entire KYC process however.
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