Are you set up for success when it comes to compliance with the many safety regulations that moderate the finance and banking sectors? If your institution is lagging when it comes to KYC and AML processes, it’s time to invest in proven compliance assets that are designed to protect your bottom line, give your customers peace of mind, and give your business a competitive edge.

iComply is pleased to partner with leaders in the finance, banking, and related securities-focused industries to provide world-leading Know Your Customer (KYC) technology that makes the process of monitoring risk assessment, upholding compliance standards, and enhancing your AML procedures straightforward and dependable.

Below, we’ll take a closer look at the world of KYC practices, particularly with regards to the banking and finance sectors, and why it’s so crucial to partner with the right solution in your marketplace. Read on to learn more!

Exploring KYC

If you’re in the banking, capital markets, or financial services sectors, you’ve no doubt dealt with some form of KYC protocols. Financial institutions around the world are subject to increasing levels of regulations when it comes to having safeguards in place to accurately identify and verify the individuals and legal entities interacting with an organization. KYC and eKYC (Electronic Know Your Customer) processes and programs are designed to uphold these standards by:

• establishing a valid customer identity;
• evaluating and vetting a customer/prospect’s activities and associations for alignment concerns (e.g. do they have known ties to terrorist or illicit organizations?); and
• assessing a multitude of risks including background details, risk of money laundering, risk of sanctions and judicial orders, previous fraudulent activities, and more.

Electronic KYC technology simplifies compliance procedures and dramatically reduces the risks associated with onboarding new clients and forming partnerships with unknown third parties.

Introducing iComplyKYC

As an essential asset to the banking industry, as well as the finance, employment, and several other markets globally, eKYC platforms like iComplyKYC transform outdated and inefficient manual KYC practices and add multiple additional security features you can trust. iComply’s platform uses edge computing to process sensitive user data before it leaves their device – a game changer for data privacy and protection regulations such as GDPR, CCPA, PPIA, etc..

Using iComplyKYC allows you to dramatically cut the costs of your KYC operations (by up to 80%), reduce client onboarding times, remove the risk of human error, and perform real-time risk assessment that keeps your organization mobile and efficient. iComplyKYC is an intelligent, modular compliance platform that can be set up in minutes, allowing you to configure workflows by jurisdiction for maximum efficiency.

Simply put, if you’re looking to make a strong investment in your security protocols and compliance procedures, iComplyKYC is the all-in-one asset designed to work with your team to guarantee success.

Get to Know iComply Today!

iComply Investor Services is proud to partner with organizations to ensure you have a trustworthy solution when it comes to Knowing Your Customers. Our platform can be set up in minutes, allowing you to configure compliance workflows by jurisdiction and focus on the next stages of development while our tech does the heavy lifting on verification. With multiple layers of KYC algorithms and programs at work within our system, you can screen for risks like AML, conduct Enhanced Due Diligence, and conduct Daily Ongoing Monitoring to minimize your risk, all in one easy platform.

Book a demo with our team today to learn more about iComplyKYC and how our platform can be used for your specific needs and applications.