1. KYC Solutions

Introduction

The solutions we sell for KYC are summarised below.

This list is subject to change as we uncover new applications of our technology through our client and partner engagements.

Formal descriptions for licence can be found here: Quantexa use cases descriptions

For new client engagements our strategy is to lead with the overall KYC solution suite capability to deliver the most value to the client. The lead with solutions pKYC, Remediation or EDD can be sold as individual solutions as an initial deployment to get a customer on the Quantexa contextual KYC journey. Additional use cases such as CRR/CRA and offboarding need to be added to one of the lead with solutions to ensure enough value is delivered to the client.

Solutions

Solution	Description	Why Quantexa
Perpetual KYC (Event driven KYC) - Transformation journey Shift from reactive to event-driven regulatory reviews for proactive risk and cost management and reduction of customer friction	Transition from periodic to event- driven and save time and improve customer risk management by automatically monitoring profiles Use multiple data sources to monitor for changes against current KYC profiles including ownership structure Integrate with downstream systems for optimized treatment of triggers Automatically recalculate risk profile by identifying new direct and indirect material risk Integrate transactional activity monitoring into the KYC process or for account activity review	Market leading entity resolution enable efficient change detection across multiple data sources as well as consolidation of triggers from various points and enable false triggers or duplicates detection (backlog management). Allows a holistic approach to even based KYC monitoring (multiple trigger points) for relevant risk detection (risk behaviour) in a manageable manner thanks to triage capabilities and integration with downstream workflows.
Remediation KYC remediation is the process of cleaning and updating client's data to ensure compliance with the latest regulations	Automate remediation for more effective KYC Deduplication of cases to remediate Pre-build a KYC and risk profile of customer Automatically assess the quality and completeness of an existing profile for remediation, prioritization and automatic resolution	Entity resolution is key to reduce the backlog by removing duplicated customers and creating a single customer view with available information. Network can be used for ownership structure unwrapping and reduce the manual effort of remediating profile and scoring to triage and prioritise remediation cases based on either and/or quality. Enables a more automated and efficient way of remediating KYC backlogs while setting up the foundations for a more future proof due diligence process.
Enhanced due diligence Enhanced Due Diligence is the process of performing additional risk investigation on customers presenting a high level of risks	Single tool for customer investigation Integrate with upstream systems to consolidate information or screening results from various engines Intuitive UI for network investigation and expansion Pre-set investigation networks for analysts per internal policy Transactional activity for risk detection or account activity review	Our market leading software uses entity resolution and network analytics to create a single view of a customer from internal and external sources to help analysts perform complex due diligence investigations looking at holistic risks and behaviours more efficiently and effectively.
Onboarding (more of an expand license)	Connect to existing CLM or other process to understand prospects before they become a customer Identify current exposure to prospect within the bank [direct or indirect] Pre-build a KYC and risk profile for pre assessment Integrate with upstream systems to consolidate additional information collected during onboarding and enrich with third party tools	Our market leading software uses entity resolution and network analytics to create a single view of a customer from internal and external sources to help pre-populate KYC profiles reducing analyst and customer effort as part of on-boarding while providing a high level pre assessment of network risk exposure.
Customer Risk Assessment (Dynamic risk assessment) [Currently not a standalone license, add-on use case]	Go beyond classic direct risk identification Risk scoring framework leverages networks and enriched data to automatically detect direct and indirect risks Optimize the risk rating model across customer segments by automatically highlighting risk factors of interest Customer Risk Rating is a key part of the KYC process and optimization through analytics is embedded as part of onboarding, remediation and the pKYC licenses	Leveraging the power of network risk scoring Quantexa enables to move away from traditional customer risk assessment and address behavioural and counterparty risks in an efficient and effective manner.
Offboarding or Client Declination Management [Currently not a standalone license, add-on use case]	Ensure all aspects of a client are properly offboarded and ensure they don't come back into the bank through other channels. Entity resolution across all lines of business and internal systems to ensure all aspects of the client are identified and offboarded properly. Maintain the list of offboarded clients and all related parties Resolve parties at time of onboarding against offboarded list to identify any attempts at creating new relationships	Market leading entity resolution to properly identify clients at offboarding and identify any ID manipulation at onboarding to evade basic list checks.

Solution

Description

Why Quantexa

Perpetual KYC

(Event driven KYC) - Transformation journey

Shift from reactive to event-driven regulatory reviews for proactive risk and cost management and reduction of customer friction

Transition from periodic to event- driven and save time and improve customer risk management by automatically monitoring profiles

Use multiple data sources
to monitor for changes against current KYC profiles including ownership structure

Integrate with downstream systems for optimized treatment of triggers

Automatically recalculate
risk profile by identifying new direct and indirect material risk

Integrate transactional activity
monitoring into the KYC process or for account activity review

Market leading entity resolution enable efficient change detection across multiple data sources

as well as consolidation of triggers from various points and enable false triggers or duplicates detection (backlog management).

Allows a holistic approach to even based KYC

monitoring (multiple trigger points) for relevant risk detection (risk behaviour) in

a manageable manner thanks to triage capabilities and integration with downstream workflows.

Remediation

KYC remediation is the process of cleaning and updating client's data to ensure compliance with the latest regulations

Automate remediation for more effective KYC

Deduplication of cases
to remediate

Pre-build a KYC and risk profile of customer

Automatically assess the quality and completeness
of an existing profile for remediation, prioritization and automatic resolution

Entity resolution is key to reduce the backlog by removing duplicated customers and creating a single customer view with available information. Network can be used for ownership structure unwrapping and reduce the manual effort of remediating profile and scoring to triage and prioritise remediation cases based on either and/or quality.

Enables a more automated and efficient way of remediating KYC backlogs while setting up the foundations for a more future proof due diligence process.

Enhanced due diligence

Enhanced Due Diligence is the process of performing additional risk investigation on customers presenting a high level of risks

Single tool for customer investigation

Integrate with upstream systems to consolidate information or screening results from various engines

Intuitive UI for network investigation and expansion

Pre-set investigation networks for analysts per internal policy

Transactional activity for
risk detection or account activity review

Our market leading software uses entity resolution and network analytics to create a single view of a customer from internal and external sources to help analysts perform complex due diligence investigations looking at holistic risks and behaviours more efficiently and effectively.

Onboarding

(more of an expand license)

Connect to existing CLM or other process to understand prospects before they become a customer

Identify current exposure to prospect within the bank [direct or indirect]

Pre-build a KYC and risk
profile for pre assessment

Integrate with upstream systems to consolidate additional information collected during onboarding and enrich with third
party tools

Our market leading software uses entity resolution and network analytics to create a single view of a customer from internal and external sources to help pre-populate KYC profiles reducing analyst and customer effort as part of on-boarding while providing a high level pre assessment of network risk exposure.

Customer Risk Assessment

(Dynamic risk assessment)
[Currently not a standalone license, add-on use case]

Go beyond classic direct risk identification

Risk scoring framework leverages networks and enriched data to automatically detect direct and indirect risks

Optimize the risk rating model across customer segments by automatically highlighting risk factors of interest

Customer Risk Rating is a key part of the KYC process and optimization through analytics is embedded as part of onboarding, remediation and the pKYC licenses

Leveraging the power of network risk scoring Quantexa enables to move away from traditional customer risk assessment and address behavioural and counterparty risks in an efficient and effective manner.

Offboarding or Client Declination Management

[Currently not a standalone license, add-on use case]

Ensure all aspects of a client are properly offboarded and ensure they don't come back into the bank through other channels.

Entity resolution across all lines of business and internal systems to ensure all aspects of the client are identified and offboarded properly.

Maintain the list of offboarded clients and all related parties

Resolve parties at time of onboarding against offboarded list to identify any attempts at creating new relationships

Market leading entity resolution to properly identify clients at offboarding and identify any ID manipulation at onboarding to evade basic list checks.

Share your thoughts

If you have any feedback on this playbook, there are any playbooks you'd like to see, or want to share how you got on with your latest pitch head to our dedicated KYC Playbook thread:

Published 2 years ago