AML Risk Manager helps ensure critical customer information is captured efficiently and accurately to meet KYC requirements such as customer due diligence and enhanced due diligence (CDD/EDD) during the complete customer life cycle. AML KYC enables organizations to identify unusual behavior that could indicate money laundering, tax evasion and fraud. Financial organizations without proper AML KYC functionality in place miss the full picture of each customer’s behavior pattern and financial activity.
User-friendly tools help organizations create and maintain KYC due diligence questionnaires. The ability to create, complete, store and view KYC questionnaires directly in the solution eliminates the need to create and track paper forms.
This questionnaire functionality in AML Risk Manager, along with watch list filtering and customer risk rating, offers a holistic and integrated approach to knowing customers’ behavior and risk. This functionality ensures required KYC data is collected for high-risk customers and customers in high-risk industries that require enhanced/specialized due diligence.
AML KYC capabilities enable organizations to realize the following benefits: