The on-boarding module within KYC Portal is called the
Customer Outreach Tool, an embedded module that is part and parcel of the
product which allows external subjects, be it corporate structures of
individuals, to be able to on-board themselves.
The importance of this module being integrated within KYC
Portal is critical as the data that the system presents to the end-user is
dynamically maintained by the organisation itself. Due to changes in
regulations, internal policy and market happenings the regulatory process
changes constantly. The perception of risk, the documents requested from the
type of entity being on-boarded, the data we ask for and also the type of forms
that are required are all factors that change constantly and the compliance
team within the organisation need to be able to implement these changes not
only in KYC Portal but also have them reflected to all the subjects being
on-boarded.
This is done seamlessly through the Customer Outreach Tool, whereby
the system always presents the user with a guided three-step approach to any
type of entity being on-boarded. An interface that was designed with the end-user in mind. All the information is presented to the user in a neat and simple
form, however, the engine behind it is doing all the leg-work.
Based on the data that the customer is filling in in the first step (forms) the system is in real-time calculating the risk being
perceived. Which risk is dynamically changing the requirements in the next
steps (documents and questionnaires) based on the defined enhanced due
diligence process set in KYCP. The user is also able to upload all the required
documentation, fill in the requested questionnaires (such as source of funds,
KYC forms, etc), and also be able to simply add related/involved parties
within the structure in the case of corporate applications.
Another very important feature within this module is the
ability to remove the dependence on email to communicate with subjects and
collect information. The Customer Outreach Tool comes with an embedded proprietary
module that allows the end-user to chat, conduct audio calls and face-to-face
calls through embedded video conferencing technology with the organisation in
question. All of these are stored in a tamper-proof audit with the ability to
playback any past audio or video recording.
This module is already live and being used by customers to
streamline the on-boarding as well as the ongoing aspect of KYC and due
diligence of their subjects in an audited and secure way.
If you would like to see the full feature deck
of the Customer Outreach Tool click
here.