The ultimate peace of mind that data, both for newly on-boarded and previously approved customers, is perfectly in line with internal risk procedures, totally compliant with regulatory requirements and up-to-date at all times.
One of the biggest advantages that KYC Portal brings to the table is the peace of mind that your reputation is safe guarded.
The most challenging aspect of compliance in today's day and age is ensuring that your organisation is not exposed to risk at any point in time. This is quite a feat as one has to ensure that all the on-boarded subjects over the past years are constantly up to date with today's regulations. Making it even worse, regulations and internal policies change constantly and one has to keep up with such ongoing aspects of compliance and due diligence.
KYC Portal addresses this challenge through automation. All the aspects, workflows, processes and alerts that are usually handled on a manual basis are fully automated. Based on the customisation that you would have defined within the system, KYC Portal will handle all the aspects of compliance and alert your team when something goes wrong. KYC Portal will also allow you to tweak the tool to cater for new requirements and market changes, instantly applying and re-assessing such tweaks across all of your past subjects.
Even if your team had to be so efficient that all your on-going concerns are up to date and checked, the period between the review obligation exposes your organisation to risk due to market changes. KYC Portal also automates such concern on a daily basis, reducing your risk exposure to the minute that you are exposed to risk.