Client onboarding and AML review process
Financial institutions are required to conduct a thorough review of a new customer before accepting that customer as a new client. Institutions must ensure that they have sufficient procedures in place that list the relevant documentation and information that should be obtained from each customer.
Manual KYC processes can result in delays, loss of business, non-compliance with the regulatory requirements and inefficient organizational processes. This can be eliminated by using an automated system.
Leading financial services brands choose Global RADAR®
As the overall landscape of the finance and trade world markets continue to evolve, the need for constant monitoring of individual activity has become increasingly necessary.
Customer Onboarding & KYC
Accelerate customer onboarding by easily obtaining information during the account opening process.
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Customer Due Diligence
Collect sufficient information to develop a full understanding of normal & expected activity.
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Risk Rating
Automation ensures that the correct information is collected and automatically uploaded.
Get In TouchDue diligence solution that has you covered
Global RADAR® is a comprehensive solution for client onboarding, KYC and customer due diligence. Using our software you can obtain information during the account opening process. We assist you with identifying the client and collecting sufficient information to develop an understanding of normal and expected activity.
- KYC – Linked to multiple databases to verify the provided ID: Passports, driving licenses and national ID Cards
- Customer Due Diligence – built-in questions are provided as part of the onboarding process
- ID Verification – Validate an identity in real-time to drive customer acquisition, deter fraud and meet compliance requirements
- Photo ID Scan – Scan & validate a photo ID where documentation review is required
- Electronic Signature – Obtain required signatures and approvals in hours—not days—from anywhere and on any device, in any time zone.
- Dynamic risk rating – the system observes transaction activity and adjusts client perimeters in real-time
- Periodic risk-based monitoring of the customer relationship to determine whether there are substantive changes to the original CDD information
- Annual review alerts for reviews based on the anniversary of the relationship
- Customized questions just for annual review process
- Build workflows between relationship managers and compliance entities
- Customizable reports (what’s coming up in the next 90 days)
- Enhanced reporting capabilities based on status (approved / pending)
- Management reports that allow the institutions to identify the work stream and create an efficient process