Prevent criminal and fraudulent customers from entering your client base and stay compliant with Anti-Money Laundering (AML) and Know Your Customer (KYC) requirements. By using top-tier forensic technology in your Due Diligence process you are activating targeted data from the Internet and turning it into unique risk information.
Traditional and current KYC and AML practices have proven to be insufficient and regulators do not accept cursory customer due diligence or a degree of willful ignorance. Banks now risk tremendous reputational damage, huge fines and even the possibility of having their license revoked when they don’t have thorough Customer Due Diligence and Anti- Money Laundering processes in place.
With the Bizz-IQ KYC-solution we bring top-tier technology from the world of Law Enforcement to the fraud-detection teams and systems of financial institutions. By using Open Source Intelligence technology, our solution makes all public available information actionable in order to find risk indicators like criminal activity, fraudulent behavior or any direct or indirect relation with people from sanction lists, pep-lists, and other watch lists from all over the world.
Especially in an increasingly competitive environment whereby the speed of bringing a customer on board is key, our solution can play an important role in facilitating and speeding up the client acceptance processes from several days to potentially just minutes.