KYC & AML
$2.1 Trillion
90%
31%
Enhanced due diligence
A strong KYC / AML program – the process to confirm your customer’s identity and accurately predict the potential risk of that customer conducting illegal activities, including money laundering through their account – is critical for all organizations making or receiving payments over the internet, not limited to banks, crypto exchanges, and digital merchants.
KYC and AML laws were enacted in the US almost 20 years ago, and in most other countries, over a decade ago. Since then, there have been enormous shifts in how data is captured, organized and analyzed. Don’t be left behind.
Recommended Products & Solutions
A user-friendly case management portal that allows you to set your own rules and review transactions efficiently and accurately.
Machine learning models are expertly engineered with the nuances of your business and industry already built in.
Visualize your real-time data to extract actionable insights, isolate risk and improve your business processes.
Shield serves as your early warning system by detecting malicious bots, fraudsters and other bad actors as they arrive on your site.
Monitor third-party data sources to benchmark your company’s performance including risk intelligence on payment methods, dark web data, IPS vulnerabilities and marketing channels.
Confirm users credentials through login scoring, multi-factor authentication or out-of-band applications.
KYC & AML Non-Compliance is Getting Very Expensive
A KYC program generally includes 4 components: 1) customer acceptance, 2) customer identification, 3) monitoring of transactions, and 4) risk management. Fines for non-compliance have reached existential levels (i.e. $8.9 billon for BNP).
Fraud.net’s unified new application service, bringing together proprietary data, 3rd party vendor data and artificial intelligence to make sense of a completed application. You set the policies, and we can help with the rest. Your team can continue to use business rules to manage workflows, but with an ‘augmented intelligence’ assist, you won’t spend as much time on each anomalous application, you will see fewer of them, and you will have more time for bigger issues that only human intelligence can solve.
Unlock Extraordinary Opportunities
Deep in the terabytes of data your organization produces every day, there are hidden, potentially game-changing, insights.
Unifying data and extracting intelligence is now possible using modern technology. Deep dive into your business with more granularity than you thought possible. Innovations will become clearer and strategies will become more obvious.
