Customer Risk Assessment
Get accurate knowledge of the risks associated with your customers, identify high risk entities and make informed decisions to uphold compliance with AML regulations.
Uphold compliance with empowered, informed decision making
Having the capability to evaluate and categorise the risk associated with individual customers or entities, our Customer Risk Assessment solution has been designed specifically to meet the needs of your compliance team.Â
An advanced financial crime compliance solution, our Continuous Risk Assessment (CRA) tool aids your financial institution in continuously and dynamically evaluating customer risk throughout their entire life cycle. To achieve this, it leverages various data sources, algorithms, and risk assessment methodologies to determine the level of risk posed by customers.
Integrated as a module within our Anti-Money Laundering Suite, CRA facilitates the most sophisticated and automated ongoing review of various factors influencing customer risk. Its user-friendly interface allows your organisation to easily configure and test complex CRA rules across different geographies, business units or clients, ensuring consistent and continuous risk assessments.
With intelligent dynamic client segmentation, CRA is capable of mitigating risks and automatically resolving alerts, in turn saving the time of your team for operations that matter. Adding to this, in case of any alerts generated through suspicious activities, transactions, or other risk events, our CRA seamlessly applies screening and monitoring rules defined by the organisation’s risk policies in response.
- Organisation wide CRA
- Elevate your existing systems
- Define and test risk events
- Conduct real-time monitoring of clients
- Investigate real-time risk events
- Dynamic risk comprehension
- Advanced automation
Protect your business from dealing with high risk customers
Dynamic risk scoring and assessment
Using predefined rules, algorithms, and risk models, assign risk scores to individual customers in real time, based on their attributes, behaviour, and other risk indicators.
Event driven and streamlined periodic reviews
In-line with the changes in customers’ profiles and respective risk rating, generate automated risk assessments.
Change / anomaly detection at customer and transaction level
Flag any change in customer profiles or an anomaly in the expected behaviour pattern in customer deposits and withdrawals.
Fully configurable workflow engine
Define the entire process workflows of your organisation to enhance the automation of internal processes and ensure consistency and audited traceability.
Treatment of mandatory and/or missing information
Flexibly treat mandatory and/or missing information, default scores, dynamic weighting, overriding factors and multiple corresponding values against any given factor.
Data integration
Conduct comprehensive risk assessment by integrating multiple internal & external databases such as transactions, watchlists, sanctions lists, & PEP.
Manual score update
Override system-generated risk scores through our AML Customer Risk Assessment Solution.
Integrable & cross-functional applicability
Utilise the benefits of Customer Risk Assessments in other AML solutions such as transaction monitoring and watchlist screening.
Flag customers for Enhanced Due Diligence (EDD)
Enhance security by flagging customers, Gather additional information, perform deeper investigations, & apply stringent monitoring measures to mitigate identified risks.
Compliance just a click away with powerful dashboards & reporting
Explore all customer data and analytics on a single, unified dashboard. Our best-in-class dashboards & reporting tools help your organisation in meeting compliance obligations by providing continuous, large-scale customer screening and re-screening capabilities leading to substantial operational efficiencies.
Our dashboards give you:Â
Top-down view of key screening activity
Client history, highlighting the customers who have scored the most hits
Current screening configurations
Reduced time in conducting review with bulk operations feature and keyboard shortcuts.
Overview of team activity and workflows, highlighting backlogs and performance issues.
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