KYC Hub’s perpetual KYC involves ongoing and event-based monitoring of customer data to ensure that it remains accurate and up to date.
Most companies face challenges and fall short of complying with changing AML regulations and guidelines. The problems get magnified when companies manage customers across geographies.
Lack of access to watchlists and inefficient processes involved in screening against sanctions exposes companies to regulatory fines and potential bad actors within their systems.
Doing manual screening and onboarding leads to more resources being deployed in order to be thorough often leading to poor operational efficiencies.
Inherent business risks and potential frauds arising due to the presence of bad actors and relationships.