7. KYC Customer FAQ's

Frequently Asked Questions	Potential Reverse Question	Answer
What proof points do you have for your KYC solutions?	What are your strategic initiatives for KYC?	75% of customer key KYC fields populated 20m+ company ownership records ingested 68% less false positives in name screening 95%+ successful match rate
We currently have a timed KYC review process, why should we consider a perpetual model?	Are you comfortable your KYC customer risk is accurate with actual client behavior? Are you confident your KYC Profile is up to date?	You may be lacking a complete picture of risk review. Are you looking to move away from periodic reviews? Are you comfortable that you are not missing any risk in your customer base which haven't been refreshed in years?
We already are performing ongoing due diligence, how is pKYC different?	Is the ongoing due diligence process driving efficiency by assessing materiality and risk of data changes?	pKYC is a complex solution with state-of-the-art ER and NG which is required to reduce the noise of immaterial changes. Do your analyst find that the results of ongoing due diligence are always relevant? Could you drive more efficiency with improved ER and materiality logic? Are you also monitoring both internal and external data including client behavior for a full view of risk changes?
This change feels big, how can we take the journey without disrupting our existing processes?	Do you have a few top priorities that could addressed initially?	pKYC Implementation can be incremental, focused on priority challenges to start Many of our customers take a phases approach based on their priorities of either increased risk monitoring or efficiency. Phases can be based on which triggers to implement first as well as which segment of customer population to start monitoring.
Our data is poor quality - do we need to sort this out before we engage?	What plans do you have in place for improving the quality of data?	Quantexa ER was designed to work with poor quality and sparse data well and has proven time and time again in bake offs to be much better than traditional matching approaches. With an incremental approach, Quantexa capabilities can be used to support data remediation projects and serve as foundational technology for further development to support the due diligence process
We have a timed and manageable KYC review process - why can you help with this?	Are you looking to move away from periodic reviews?	You may want to look into the power of ER and Networks to create a more complete picture of risk for reviews and enrich traditional risk approach (product, geographies, industries,...) with detection of risks linked to the customer behaviour and its counter-parties
I have pressing remediation need and I will lose time switching systems - how could I start without disrupting this?	What is approximate time per customer for the medium to high remediation activities? What percentage of this time is spent on data collection and aggregation?	Leveraging Quantexa to improve the due diligence process can be done incrementally for quick time to value to solve most challenging pain points then implement further integration with existing systems This technology is complementary and brings performance to existing systems without replacement We have completed PoCs for pKYC in 8-12 weeks
This sounds like an expensive solution which we can't afford. How could I start to demonstrate value?	How many analysts do you currently use for onboarding and remediation on a 1-3-5 year basis? How much time do they spend on data collection and aggregation of data? What is the impact on customers of current KYC process?	Leveraging Quantexa to improve the due diligence process can be done incrementally for quick time to value to solve most challenging pain points then implement further integration with existing systems or deploy additional capabilities
I already have a single customer view. What will this give me?	What does your current single view provide and are there any issues you have with it around data quality?	Even where our clients already have a system in place to provide a single view of customer, we have still provided deduplication rates of up to 20% To support due diligence automation, networks combines with ER allows to easily build ownership structures and detect UBOs (or any changes in UBO Beyond single customer view, network risks enable to monitor and detect risks beyond the traditional KYC risk attributes using the real risk linked to customer activity
My operations teams are already doing this work (data collection, account activity review, CRR) - why do we need this?	How much time are your operations team spending on data collection and aggregation?	We are not trying to replace the work your operations teams are doing, but to enhance it with automation and intelligence We can provide a richer view with networks that they can use as inputs to their models to drive better risk detection and automate ownership structure building We have an open architecture which means they can continue to use the tools they are using today (e.g. CLM, Risk model, Python, R)
I already have a CLM system and do not want my analysts to change system - what will Quantexa provide?	What CLM system do you currently use? Do you have any data quality or enrichment issues with the CLM system?	The output of Quantexa can be integrated within existing systems – including CLM or in-house developed tools Quantexa capabilities can be applied in the background of other technologies and outputs being fed to enrich and enhance the existing process
The network UI is too confusing for operations and business users - can this be simplified?	What information does your current team require?	Yes, the network UI does not need to be presented to the users – a simplified view with only the pertinent information can be integrated within existing systems (i.e CLM)
I already have [insert external data source eg Orbis, D&B, Dow Jones], why do I need Quantexa?	How do you currently use the third party data in the KYC process? How do you match the external data with your internal customer and transaction data?	Quantexa can provide better match rates of the external data to your internal view of customer Quantexa can match across many external sources and internal sources Quantexa can operationalise new network insights from these data sources e.g. ownership structures, supply chains, counterparty risk and more