Advanced Know Your Customer (KYC) Solution
For Compliance with Anti-Money Laundering (AML) and Counter Terrorism Financing (CTF) Regulations.
KYC/AML Challenges for Financial Institutions
KYC/AML compliance requirements are placing huge toll on financial institutions.
Average bank spends $40M a year with large banks spending up to $300M.
Long On-boarding Time
30 days on average for new client on boarding. Up to four months for high risk customers
Human errors in manual KYC and AML checks lead to 99% of all fines.
Global financial institutions are struggle to understand and comply with complex global AML regulations.
AuditXPRT Advanced KYC Solution
AuditXPRT’s Advanced KYC solution uses Artificial Intelligence (AI) technologies to address the specific challenges and opportunities inherent in our market. Our model of deployment, expertise in driving adoption, zero up-front infrastructure and project management costs, flexible usage-based fee structure and approach to partnering with our clients, allows AuditXPRT to offer a unique value proposition which exceeds the requirements of most regulators and institutions.
Automated customer data & documents collection and verification.
Understanding and change management of global AML/CTF regulatory requirements.
Unstructured Data Analysis
Adverse Media, nature of business, source of funds Analysis.
Automated Qualitative Risk Assessment.
UBO Link Analysis
Intelligent Link Analysis of complex corporate structure to identify Ultimate Beneficial Owners (UBO)
Intelligent Link Analysis for Adverse Media and PEP to get rid of false positive matches
Integrated with major Distributed and Decentralized ledger technologies (DLT) to provide real-time KYC checks.