Banking

Know Your Customer (KYC) – Enterprise Solution for Anti-Money Laundering

Amidst increasing competition Financial Services companies face increasing regulations which are un-abating in their demands. Following the events of September 11th regulators have stepped up their focus on Anti-Money Laundering. The first step in addressing AML is to “know you customer”, in this way regulators want Financial Services Companies to put in place stringent due diligence procedures to identify and report potential money launderers.

edgeKYC, (developed using edgeConnect), provides the benefit of an efficient, fully automated KYC process from beginning to end through packaged templates, combined with a highly configurable platform that provides the flexibility and openness usually associated with a bespoke system.

Our holistic approach enables business user involvement in configuring the data capture elements and risk profiling rules, enabling rapid implementation of a ‘right first time’ KYC solution.

To handle the vast array of regulations being introduced at a national and international level you have to change the way you work. To enable this change, edgeKYC provides a single solution that allows you to standardise KYC processes across the enterprise whilst providing flexibility for local country regulatory requirements. Each jurisdiction can therefore follow a consistent way of working, regardless of location, language and business function/business role whilst enabling regulations for each jurisdiction to be seamlessly integrated into the system to ensure compliance with local and international guidelines.