Achieving perpetual KYC with KYC Portal

KYC Portal reduces your risk exposure to mere hours instead of weeks or months, through automation and its unique dynamic configuration engine. This ensures you are able to adopt perpetual KYC (pKYC) by being proactive rather than reactive by continuously monitoring your customers. Switching from manual periodic KYC reviews to those that are triggered by anomalous patterns of customer behaviour, brings a totally new approach to how you do KYC.

In today’s world it is vital to adopt a continuous KYC (cKYC) approach rather than the inefficient costly periodic client reviews and remediation projects, to understand your customers’ risk profile throughout their relationship or lifecycle.

One of the biggest advantages that KYC Portal brings to the table is the peace of mind that your reputation is safe guarded. The ultimate peace of mind that data, both for newly on-boarded and previously approved customers, is perfectly in line with internal risk procedures, totally compliant with regulatory requirements and up-to-date at all times.

All the KYC aspects, workflows, processes and alerts that are usually handled on a manual basis are fully automated by KYC Portal. Based on the customisation that you would have defined within the system, it will handle all the aspects of compliance and alert your team when something goes wrong. KYC Portal will also allow you to tweak the tool to cater for new regulatory requirements and market changes, instantly applying and re-assessing such tweaks across all your past subjects. Even if your team had to be so efficient that all your on-going concerns are up to date and checked, the period between the review obligation exposes your organisation to risk due to market changes. KYC Portal also automates such concern, on a daily basis.

All of the above and much more, ensures that at any point in time, you are aware of all the aspects of risk on all your subjects. This approach is the only approach that will always ensure that your reputation is safe-guarded from any risk. By continuously monitoring transactions, perpetual KYC provides peace of mind by raising an alert if an activity does not fall in line with what is expected. Once you adopt the perpetual KYC approach, you will wonder how you managed risk and compliance without it. This approach reduces risk but it also optimises use the of compliance teams and resources.

Lavanya Rathnam

Lavanya Rathnam is an experienced technology, finance, and compliance writer. She combines her keen understanding of regulatory frameworks and industry best practices with exemplary writing skills to communicate complex concepts of Governance, Risk, and Compliance (GRC) in clear and accessible language. Lavanya specializes in creating informative and engaging content that educates and empowers readers to make informed decisions. She also works with different companies in the Web 3.0, blockchain, fintech, and EV industries to assess their products’ compliance with evolving regulations and standards.

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