The challenges of KYC remediation
Financial institutions are under increasing pressure from ever more demanding know-your-customer regulations (KYC). This is to guard against the risk of identity fraud, tax fraud, as part of the fight against money laundering and terrorist financing. (LCB-FT).
Controls must be carried out not only at the time of the entry into the relationship, but also throughout the commercial relationship. Remediation campaigns are used to update customer data to restore compliance with regulations.
Automate the collection and control of customer receipts
Automatically control the conformity of your documents in your DMS, while improving the quality of your data base.
Assess your compliance status in real time!
Average duration of an automated campaign
Automatically complete & compliant files
Automate your KYC remediation campaigns in 3 steps
How to complete your KYC remediation project in less than a month?
1. Assess your level of compliance
The first step is to evaluate the proportion of customer receipts still valid in EDM (Electronic Document Management). Our AI-based solutions cross-reference the data available in EDM and in the database. They automatically check all stored receipts, which allows you to quickly target the customers to be corrected. These are customers whose credentials are not in compliance: illegible, outdated or falsified documents.
2. Launch your remediation campaign
Based on this targeting, the next step is to automate the remediation of these customers. This starts with an e-mail or SMS allowing them to submit their new documents via a secure area.
It is automatically followed by e-mail or SMS reminders.
When submitting new documents, customers are accompanied in real time by AI algorithms that indicate any compliance problems detected (wrong document, document too old, poor quality, etc.)
3. Industrialize the manual processing of anomalies
The last step is to speed up the manual processing of customer files that really need it. On average, 20% of customer files have an anomaly. The majority of these files can be caught up via our dedicated back-office interface. The part that cannot be made up can be reopened, i.e. treated as not completed.
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Real-time document control
In SaaS mode, Netheos APIs allow for 100% automatic analysis of the image quality of the documents sent, their type and their consistency with the information transmitted on the call. This allows you to offer end users real-time support when submitting their documents (automatic feedback in case of errors and personalized assistance) and thus guarantee that their file is complete and compliant.
Our technologies check the authenticity of the documents received (security features, connection to external repositories, etc.) in order to detect fraud attempts and warn the professional if necessary.
Your regulatory obligations are thus automated and your risk of fraud is significantly reduced
Netheos develops its own Artificial Intelligence technologies that automatically analyze supporting documents (salary, home, bank, identity).
They are able toextract, compare and rectify information information, while verifying the quality and authenticity of documents.
These technologies are more efficient and reliable than conventional methods. They reduce errors that lead to compliance risks.
Operators specialized in fraud
In addition to its technologies, Netheos offers a manual control service. Our Netheos Services team relies on the human element, with specially trained anti-fraud experts, whose job it is to complement the work of Artificial Intelligence. If necessary, this team can manually process the files that have raised an alert, via a dedicated back-office interface.
Thanks to its technologies and teams, Netheos is able to handle your entire KYC remediation process.