In today's complex business landscape, are you truly certain you know your business partners, clients, and suppliers inside out? KYC verification is not merely a procedure, but a fundamental pillar for identifying high-risk clients and ensuring anti-money laundering compliance. Whether dealing with natural or legal persons, prospects or long-standing clients, our advanced Know Your Customer (KYC) suite has been developed by expert KYC Analysts to provide you with a comprehensive, modular, and customizable solution for effective and AML-compliant risk management.
Onboarding and screening are fundamental stages in our KYC and AML process. This initial step in the KYC Onboarding Process is essential when adding new clients or suppliers to your business portfolio. Whether a supplier, client, new contact, or long-term relationship, this phase is preparatory to the KYC screening stage, namely the interrogation of anti-money laundering databases and accurate verification of the presence or absence of names on national and international watchlists.
The onboarding phase consists of completing a form containing all data associated with the subject. This data enables us to verify with high precision whether the subject appears on the watchlists we have selected.
If the match between the screening subject and the proposed result is correct, the name is assigned an exposure, for example:
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Following the KYC and AML screening phase, the next step is risk assessment, also known as KYC AML Risk Rating. We employ a mathematical model that integrates risk variables specific to your company, providing a detailed risk profile and accurate KYC Risk Assessment.
Defining a "risk profile" for a customer record means assigning a value representing an estimate of how critical that record may be for the business.
This constitutes a second-level analysis. The mathematical model integrates risk variables present in the company policy with standard dimensions such as location (domicile/residence), type of activity (sector, business location), and relationships (family or business ties). The algorithm returns a risk level (low, medium-low, medium-high, medium, or high) aimed at understanding how critical the party before you may be.
Our KYC AML Risk Mitigation methodology is structured to adopt effective and compliant measures. This includes identifying inherent risk, analyzing vulnerability, and determining residual risk, following a three-phase approach in the KYC AML Process:
Inherent risk identification: gathering information and identifying and assessing money laundering risks (e.g., through customer mapping).
Vulnerability analysis: evaluates the adequacy of organizational, procedural, and control measures actually implemented against previously identified risks to identify any vulnerabilities or gaps.
Residual risk determination: risk self-assessment involving the automatic calculation of a risk value to which the obliged entity remains exposed, despite the vulnerability analysis and consequent identification of corrective measures.
Compliance requires in-depth knowledge not only of your direct partners but also of their related parties. We utilize a global database containing information on over 400 million companies worldwide to perform KYC verification of Ultimate Beneficial Owners (UBO), Politically Exposed Persons (PEP), Board of Directors members, Corporate Structures, and ownership chains, ensuring optimal risk management.
