Customer Due Diligence/Know Your Customer
The Detica NetReveal® solution for Customer Due Diligence (CDD) / Know Your Customer (KYC) enables an enterprise-wide approach to managing your CDD / KYC requirements – from initial on-boarding to ongoing due diligence (ODD). By automating risk scoring throughout the customer lifecycle and supporting the enhanced due diligence (EDD) investigation process for high-risk customers, Detica NetReveal® enables organisations to fulfil their regulatory CDD/KYC objectives in a cost-effective way.
Our CDD / KYC solution can be deployed as a standalone capability or as an integral element of the Detica NetReveal® Compliance solution suite including AML and Counter Terrorist Financing.
Detica NetReveal® addresses all the major steps in the CDD / KYC process, including:
- Customer information capture – with the flexibility to handle a wide range of customer and data types required in different jurisdictions.
- Validation – supports conducting watch list checks and call-outs to internal and external data and services providers to obtain a detailed view of the customer.
- Risk rating – compiles a risk score and automatically evaluates the associated risk level applying an open scoring model using risk characteristics such as customer type, geographic profile and product usage.
- Investigation – enables you to properly manage CDD / KYC cases, including specific sign-off for high-risk customers and manual risk level override.
- Regulatory reporting – automatically generating and filing reports to regulators saves vital investigative time and effort.
- Continuous monitoring (ODD) –changes to customer data trigger a re-evaluation of customer risk and highlight any deviation in customer risk profile.
- Risk-based approach - the Detica NetReveal® solution for CDD / KYC enables the implementation of an enterprise-wide consistent risk-based approach.
To learn more please browse the documents on the Detica NetReveal® Knowledge Centre.