A critical process for all organizations
Our Client On-boarding solution addresses the inherent challenges of the onboarding process to save you time and money. We help you differentiate customer service and facilitate Know Your Customer (KYC) compliance with local, national, and global regulations.
Our Client On-boarding combines management technologies needed for proper onboarding, including data, document, rule, hierarchy, and workflow. It incorporates a well-structured data model capable of handling the complexity of capital market clients and business relationships, while simultaneously coordinating large numbers of activities occurring.
The information is structured so that it can be leveraged by multiple parties involved in client onboarding – from the front office through KYC, operations, risk, legal, credit, compliance, tax, and more.
Grow your organization. Stay compliant.
The design of Client On-boarding recognizes that the regulatory and compliance environment is ever-changing and adapts to new requirements with ease.
Our solution is an automated workflow process that is effective because it understands the structure and intricacies of the data it is designed to capture and process.
The specific goals of a client onboarding system are to collect correct client information; maintain data and documentation over time; ensure continuous adherence to policy; and provide transparency and accountability throughout the process. Client On-boarding achieves every one of these goals.
Client On-boarding includes the following core modules:
- Client request and onboarding framework
- KYC compliance
- Credit request approval
- Legal agreement approval
- Account setup.
Each of these modules can be deployed independently with the client request and onboarding framework. That allows an organization to begin with the implementation of one of the modules (typically KYC) and to broaden the scope of the deployment over time.
The political and regulatory focus on financial services firms continues unabated. While some of the big reforms - such as the wholesale recapitalization of banks - are beginning to draw to a close, many other cross-border regulatory changes still need to be developed and implemented.
This report looks at the cyber risks faced by investment managers, who handle strictly confidential data on a continual basis, whether they perform KYC due diligence on their own clients or respond to KYC requests from their banks.
Enhanced due diligence processes form part of a best-practice, risk-based approach as well as providing a critical framework during the anti-money laundering and know your customer on-boarding life cycle.
Meet changes in regulation with World-Check One, the highly adaptable KYC verification and third party screening solution.