Solving real-time Know Your Customer (KYC) profiling, remediation & due diligence challenges.

An ongoing challenge for most Financial Institutions, their clients and regulators has been how to address the clunky & static nature of Know Your Customer (KYC) profiling, due-diligence, case processing and subsequent periodic (if any) reviews.

Financial services clients often face dated manual or semi-manual KYC processes and workflows, particularly when they are being onboarded for the first time. They can equally face such legacy processes, systems & applications (not to mention people) when their preferred Banking, Financial Services and/or Insurance (BFSI) provider needs to undertake yet another refresh of their KYC profiles & associated risk exposure levels.

Financial Institutions themselves also face an uphill (costly) battle to find an innovative way to move to real-time or near-time continuously updated KYC profiling, case review processes that will; clarify in a rapid, agile & cost-effective manner the ultimate risk profiles of their clients / counterparties and satisfy the requirements of their regulators.

All of the above is not easy to address and it takes a communinty response in many ways to solve it. In light of the above Fenergo is pleased the launch its' Digital KYC solution, which in conjunction with our partners addresses all of the above pain-points.

Fenergo Digital KYC enables financial institutions to be compliant by design with a digital, streamlined, managed by exception solution for perpetual KYC compliance. Fenergo is pleased to launch it's Digital KYC solution, which addresses the challenge of inadequate clunky and static Know Your Customer (KYC) profiling, due diligence, case processing and subsequent periodic reviews.

With this ground-breaking solution Financial Institutions can now undertake seamless perpetual KYC refreshes without having to overly burden their clients for more information or documentation. This is all done on a digital omni-channel basis leveraging current and future technology stacks by utilising the power of Fenergo’s award-winning platform and modules.

Some of its key features are listed below, however its output is what is key and why by using Fenergo Digital KYC can you solve your associated challenges, our latest whitepaper maps this all out for you.

Features and Capabilities of Digital KYC:

• KYC Managed by Exception: Reduces the need for manual intervention and outsourcing compliance to third-party offshore firms
• Automated Regulatory Rules: Regulations and cross-jurisdictional requirements dynamically managed
• API Integrations: Enable digital data and document management with out of the box eSignature, ID&V and OCR integrations
• Automated KYC Refresh: Event-driven approach enables real-time Perpetual KYC Refresh for high-tech, low-touch compliance

You may find the information points below to be useful, ultimately I recommend you speak to one of our many KYC, AML & CDD specialists to discuss your needs and see how we can help you, simply click here and reach out.

More Information:

• Digital KYC Explainer Video - understand in less than two minutes what the solution aims to solve
• Digital KYC Interview - Greg Watson, Global Head of Corporate & Institutional Banking at Fenergo outlines why this solution is needed and how it works.
• Digital KYC Brochure - learn more about the solutions ultimate capabilities
• Digital KYC website - research the solution yourself and choose the information points that work best for you