Kyckr Perpetual KYC

Future-proof your compliance through automation and intelligence.

Kyckr Perpetual KYC is a solution designed to automate your access and processing of compliance obligations. Through our innovation and expertise, Kyckr provides a powerful suite of technology and services, enabled by our world class access to primary source registry information– the most legally authoritative source.

By taking an event-based approach, we employ intelligence to monitor and capture changes based around the attributes of your client information, helping you reduce risk, cost and providing a higher level of actionable insights.

See how our approach below can help your future proof your obligations.

How it Works

Our 3-phase approach simplifies your KYC process delivering compliance in on-boarding and customer due diligence:

Data Cleansing

Kyckr automates cleansing through a rules-based workflow, helping us identify blemishes, inaccuracies whilst matching correct entries and records.

Automation helps us dramatically reduce processing costs and times compared to a manual approach.

Data Remediation

Customer data is checked for completeness, consistency, duplicates, integrity and accuracy.

Through purpose-built rule-based decision engines, we align your cleansed records against global company registries, helping identify the discrepancies between your data and what is correct in the registries.

Company Watch

Real-time event monitoring helps you retain a most up-to-date, accurate customer book.

Our capabilities apply specially defined rules and risk filters that watch and analyse event changes relating to any customer on your existing customer books.

Is the information you use to make compliance/AML decisions accurate and up-to-date?

The information you keep regarding your customers should be current, correct and accurate.

Whilst other solutions store data around their customers and use secondary sources, Kyckr does not store information and only uses primary source. This means you’re always referencing current, correct and accurate information through Kyckr for Business.

How do you know if there’s a change to your customer/supplier risk?

Companies change risk profiles constantly and without automation, compliance management becomes challenging, time consuming and expensive.

Kyckr Company Watch provides smart live monitoring to changes from primary source information meaning we notify you of the important changes that occur at the registry.

Is your customer or supplier de-registered or suspended?

Our clients typically encounter that up to 17% of their customers are not properly registered.

In most countries, once a company is de-registered, it no longer owns its assets – the state does. Providing accounts and other services to manage such assets is technically a breach of AML obligations. In addition, it also misrepresents assets under management because your customer no longer owns the assets.

Do you really know who you are onboarding?

Kyckr can help with your new client onboarding by assessing the following:

Legal Entity: Ensuring legally compliant name, address and status fields are captured.

Director: PEPs and Sanctions, Negative Press.

Controller: Shareholders and who controls the company.

Benefits

Kyckr can significantly reduce manual processes by reducing the risk of human error, increasing accuracy of customer information and improving efficiency for your business.

Cleansing and Remediation of data

Without Kyckr
  • Manual cross-check of client information against company registry information
  • Manual update of change to client information in Case Management Systems
With Kyckr
  • Automatic cross-reference of client information is to company registry information
  • Information variances automatically identified and available for bulk updating

Onboarding Clients

Without Kyckr
  • Manual entry of client information into Case Management System
  • Manual download supporting filings from company registers
With Kyckr
  • Information is electronically loaded into Case Management System reducing key stroke errors
  • All available filings are made available for downloading, reducing the time in sourcing documents in various registers globally

KYC Due Diligence Refreshing

Without Kyckr
  • Manual refresh of client files based on a risk rating, after a defined future period (E.g. high-risk clients every 12 months, low risk every 3 years)
With Kyckr
  • Company Watch allows real-time reporting of client event changes, such as Directors and changes to shareholders
  • KYC Due Diligence refresh of customer information can be event driven rather than determined in fixed periods

Client Off-boarding

Without Kyckr
  • Client account closures manually determined by bank personnel based on information received by the client or via third parties
With Kyckr
  • Company Watch alerts compliance staff that a company has been deregistered

Our Industry Expertise

  • Financial Services (Banks, advisors, planners)
  • Stockbrokers
  • Legal
  • Accountants
  • SSL Certificate providers
  • Payment Providers
  • Supply Chain
  • Any sector with compliance or AML obligations

Learn More about Perpetual KYC

Our automated solutions bring your KYC challenges into compliance for yesterday, today and tomorrow. To speak to a KYC specialist about how we can help, get in touch with our Kyckr team at info@kyckr.com.

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