Recent Discussions
pKYC: new blog alert!
We recently shared an article on Perpetual Know-Your-Customer (pKYC) covering 7 lessons taken from real-world deployments of Quantexa. No spoilers on the big 7, but you can expect content covering Graph Analytics, Data Accuracy and Automation. My favourite parts of these deployment-focused articles are when we back up our assertions with real client stories. For our loyal Community users, I’ve added a little more detail below: One bank incorporated 9 different data sources into their pKYC offering – both internal and external – achieving a 95% match rate between customers and external data. Another bank are automatically generating entity profiles that link existing customers to new applicants, rapidly assessing the overall entity against KYC metrics. This increased efficiency is leading them to roll out the Quantexa-based system to thousands of users. Have a read of the article here: pKYC: 7 Lessons Banks Can Learn - Quantexa If you would like more information on these case studies or need advice on embarking upon a KYC adventure of your own, please feel free to reach out!
New blog on various journeys to KYC transformation - tell us how you are approaching it!
While there is no "one-size-fits-all" journey to pKYC, the same foundations are critical to success for banks. Discover our latest blog on 'Pathways to pKYC: Different Journeys, Same Foundations' and let us know how you are intending to take on this transformation. https://www.quantexa.com/blog/pathways-to-pkyc/Upcoming Webinar on Unlocking the Power of pKYC: Dec 5th & 7th (EMEA & APAC)
Join Quantexa’s Delphine Masquelier, Thomas McNally and Carl Ottman for two webinars that demystify the pKYC transformation journey. We'll share insights gained from real-world pKYC deployments, representing some of the earliest implementations. Register here: https://community.quantexa.com/events/115-unlocking-the-power-of-pkyc-smarter-kyc-processes-emea https://community.quantexa.com/events/114-unlocking-the-power-of-pkyc-smarter-kyc-processes-apac
Perspective: Addressing SEC-Identified AML Program Deficiencies at Broker-Dealers
In this article, analyses and highlights key themes in AML compliance shortcomings identified in a July 2023 Risk Alert published by the U.S. Securities and Exchange Commission (SEC) Division of Examinations. The article goes on to explore the meaning of a 360° Client View and how you can use Quantexa's KYC offering to create and maintain a 360° view of clients using internal and external data, support robust due diligence and provide accurate and timely information to maintain up-to-date profiles and an informed view of client risk. Read the article in our Community Library: Perspective: Addressing SEC-Identified AML Program Deficiencies at Broker-Dealers Don't forget to leave questions or comments for Andrea below!Work your way through an Enhanced Due Diligence use case in Quantexa's AML Investigator course
Just like AML investigators, analysts specialised in Enhanced Due Diligence (EDD) cases are required to master the art of detecting the risk within a customer's profile or activity. This program teaches individuals how to combine many of the key components of the Quantexa platform that they have learnt about in the Quantexa Foundations program in such a way as to facilitate their ability to conduct an EDD themed Investigation. (Duration: 4 days) Having completed the program, learners will understand the relevant core concepts and how to use the key UI components of the Quantexa platform based on a Know Your Customer (KYC) use case. Modules include: Quantexa User Foundations Program - Introduces the core concepts of our platform, including Networks, Documents, Entities, and Entity Resolution. This Program also introduces Search, Investigation and Task components of the Quantexa platform’s UI. Quantexa Investigations Series: AML Investigator - Teaches how to combine many of the key components of the Quantexa platform that you have learnt about in the Quantexa Foundations program in such a way as to facilitate your ability to conduct an AML or EDD themed Investigation. Outcome: On successful completion of the program and its associated Knowledge Check, learners will be awarded the Quantexa Investigations Series: AML Investigator completion badge. Read more about the courses we offer and how to sign up in our Introduction to Quantexa Education Services and the Quantexa Academy For more Financial Crime updates, discussions, and events why not join our Financial Crime User Group?
NextWave and Quantexa - Discuss KYC and why it's so important!
Please take the time to listen to this valuable Partner interview by Outlook Series, Michael Lippis, Tony Clark, NextWave and Alexon Bell, Quantexa on Decision Intelligence and Supply Chain Transformation. Knowing your customer (KYC) has never been more important. To gain an edge, you need improved operational efficiency, agility and speed, better threat protection, and enhanced customer experiences. However, processes are often periodic and do not provide a near real time, complete and dynamic view. Evolving regulations, tight budgets, and changing client behaviors have prompted the need for advanced technologies to improve current methods and provide detailed insight into both high and low risk customers. Unfortunately, current KYC approaches still largely rely on manual data captured from multiple systems. These inefficiencies and increasing regulatory requirements are directly affecting the need for a more advanced and technologically led approach. Consequently, leading firms are leveraging financial industry expertise combined with Decision Intelligence Technology to bring context to billions of records, faster. Bridging the data decision gap enables your understanding of customers, ecosystems and supply chains.Listen to ABN AMRO, BNY and HSBC talk all things KYC and transformation
As the pKYC transformation topic is still top of mind for most FIs, we have asked three banks to talk to us about their journey and how they are approaching the future of due diligence. Listen to the webinar here: [Webinar] KYC _ Transforming approaches with new technologies - with ABN AMRO, BNY Mellon & HSBC.mp4 [Webinar] KYC _ Transforming approaches with new technologies - with ABN AMRO, BNY Mellon & HSBC.mp4 How are you approaching the transformation? Do you agree with our panellists?Moving to Continuous KYC Monitoring to Reduce Risk & Improve Compliance
These are incredibly interesting – and challenging – times to be working in financial services or risk management/compliance in virtually any industry. A lot of Financial Institutions are feeling the urgent need to make changes in their current KYC and risk management practices. More and more companies are concluding that it’s time to move to a more proactive KYC approach, transitioning away from the traditional practice of doing regular periodic KYC reviews and towards continuous KYC monitoring. Do you agree with the above? Are you feeling the same pressure within your practice? If you are on the journey, do not hesitate to get some inspiration through our blogs: Moving to Continuous KYC Monitoring to Reduce Risk & Improve Compliance Learn how continuous KYC monitoring can result in reduced risk, improved AML compliance - while keeping you one step ahead of criminals.Thriving for more effective Customer Risk Assessment - The impact of adding context
Lately, the topic of Sanctions circumvention (and Controls more generally) has been top of mind for a lot of Financial Institutions. With businesses and individuals being more and more innovative in finding ways to maintain business continuity, FIs are expected by regulators to show the same level of innovation within their controls using technology at hands. In many cases, the answer has been in the bigger picture! Adding context using state of the art entity resolution and networks has demonstrated great results in detecting Money Laundering activities across the years, so why not apply it at the root as part of customer on-boarding and due diligence? Watch our webinar on The Impact of Adding Context, discussing how adding context from the get go can support more robust controls and business continuity for FIs and helping with challenging regulatory compliance. Let us know your thoughts on the impact of context within the KYC space! [webinar] KYC_The impact of adding context.mp4 [webinar] KYC_The impact of adding context.mp4
