KYC checks can be a long, drawn-out process; especially if it is being done manually. Many companies will have a team of people checking potential clients, and even with some dropping off due to risk, you will still lose those hours of labour. Not to mention this will also, in addition, hit your bottom line. If your know your customer policies are slowing down the onboarding process, finding a way to streamline the workload to make it more efficient and cost-effective may be the best answer for you.
Creditsafe’s Risk and Compliance tool streamline the KYC process, alongside ID verification, UBO verification, running PEP & Sanction screenings and AML screenings; it also offers news reports regarding the company in question from raw data. Matching data to various sources including Lexis Nexis, Creditsafe’s compliance reduces the manual hours of your on-boarding process by managing multiple policies for multiple jurisdictions, thus also reducing human error.
Our tool has a single view of a customer from multiple data sets. Complete with a full dashboard to manage your portfolio, get a click by click, time-stamped audit trail on all your compliance checks.