Real time Counterparty Risk Assessment (CRA)

The ultimate peace of mind that data, both for newly on-boarded and previously approved customers, is perfectly in line with internal risk procedures, totally compliant with regulatory requirements and up-to-date at all times.

One of the biggest advantages that KYC Portal brings to the table is the peace of mind that your reputation is safe guarded. 

The most challenging aspect of compliance in today's day and age is ensuring that your organisation is not exposed to risk at any point in time. This is quite a feat as one has to ensure that all the on-boarded subjects over the past years are constantly up to date with today's regulations. Making it even worse, regulations and internal policies change constantly and one has to keep up with such ongoing aspects of compliance and due diligence.

KYC Portal addresses this challenge through automation. All the aspects, workflows, processes and alerts that are usually handled on a manual basis are fully automated. Based on the customisation that you would have defined within the system, KYC Portal will handle all the aspects of compliance and alert your team when something goes wrong. KYC Portal will also allow you to tweak the tool to cater for new requirements and market changes, instantly applying and re-assessing such tweaks across all of your past subjects.

Even if your team had to be so efficient that all your on-going concerns are up to date and checked, the period between the review obligation exposes your organisation to risk due to market changes. KYC Portal also automates such concern on a daily basis, reducing your risk exposure to the minute that you are exposed to risk.

KYC Portal allows you to build and manage your entire risk matrix with all the required categories, weights and band combinations across all of the data points that you decide to centralise in KYCP. From regulatory risk to reputational damage, ESG, responsible gaming, credit risk and any type of risk you might want to perceive. This risk engine is working in real time on all the risk factors you define into the solution allowing you to be in full control at any point in time to tweak and adapt the solution based on market happenings and changes in internal policy. The solution comes packaged with over 15 different risk algorithms addressing the needs and requirements of all our clients across the globe within various industries.

The solution boasts a fully tamper proof audit of all risk movements of a subject over time. A granular audit of any risk movement for each subject within a counterparty based on the data that is being updated in the solution (be it manually or through the integration of third parties). This automates the full customer risk assessment (CRA) in real time not only on the current view but also the ability to load any previous risk assessment snapshot for any party within KYC Portal. This ability to audit all historical movements allows users to even compare snapshots of risk, being able to quickly vet and verify what changes within the subject’s application have led to what risk movements between the two risk snapshots.

Due to the real time factoring of risk on all data points within the product as well as the real time trigger based rules engine of the solution, KYC Portal allows for the adoption of perpetual KYC. The ability to create rules that can alter the workflow, raise alerts, request documentation and more data as well as escalate based on the real time perception of risk per subject. This eliminates the risk in between periodical reviews as the solution would instantly act on the risk change rather than waiting for the review to detect what is necessary. This, combined with the embedded outreach modules of KYC Portal also helps in reducing the to-ing and fro-ing of onboarding counterparts. The outreach modules of KYCP are directly linked to the real time risk, so are the trigger based rules, allowing you tweak and improve your right first time process of onboarding complex counterparts.