The end result is enhanced compliance with AML regulations, fraud prevention and faster response to fraud incidents to help financial institutions protect their customers and businesses and reduce their operational risks. risks leveraging our advanced fraud analytics and identity intelligence data. In the context of KYC screening processes, FACEPOINTs picture intelligence. Each solution can be integrated within your KYC program and identity data. Use that data to conduct advanced KYC-program-risk analytics for a competitive advantage. which launched an industry-leading biometric risk screening engine. Put in place a disciplined data-management practice that leverages automatic and dynamic data feeds from external and internal sources. In addition, managers can view a wide range of risk reports for regulatory reporting and efficient management of monitoring operations. Manage your KYC obligations such as KYC screening, risk assessment, record keeping and ongoing due diligence. Apply data and KYC-program-risk analytics. ![]() Risk analysts are able to analyze data and search for new AML and fraud patterns. Intelligent Document Processing Automate large volumes and varieties of documents with industry-leading intelligent document processing (IDP) solutions. The CGI HotScan360 case management tool enables incidents to be investigated and next steps determined. Know Your Customer (KYC) compliance is a critical function to assess customer risk to comply with global Anti-Money Laundering (AML) laws, but many institutions may be missing crucial information that should be influencing risk management decisions. With CGI HotScan360, financial institutions can scan all of their customer transactions, activities and behaviour in real time, score them and identify possible money laundering and fraud. While a bank is under a potential compliance investigation, its activities might be suspended.CGI HotScan360 is a comprehensive and versatile risk management platform that provides real-time fraud detection, payments filtering, know your customer (KYC) and customer due diligence (CDD) capabilities, along with anti-money laundering (AML) transaction monitoring. Opportunity cost of losing new business. ![]() financial services industry $25.3B to manage AML.Įnforcement actions related to AML have been on the rise - up to about $6.2B in 2018.Ĭompliance staff must have multiple touchpoints with a customer to gather and verify information, which means a longer deal cycle that might lead to customer churn. Most AML activities require significant manual effort, making them inefficient and difficult to scale. In addition to the ongoing fears of potential damage to a bank’s reputation and continuously evolving threats, poorly executed AML operations create a number of other challenges: In cases when higher-risk customers are involved, Enhanced Due Diligence (EDD) procedures must take place- for example, if a customer in question might be a Politically Exposed Person (PEP), or there are suspicious transactions. As part of their anti-money laundering programs, banks must conduct a large number of Customer Due Diligence (CDD) checks when going into business with new customers and on a regular basis. contains a fully customisable risk model and segmentation engine to help risk.
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