Bankers Almanac Enhanced Due Diligence

Better identify financial counterparty risk with modern KYC software for all banks.

Overview

Modernising your KYC process is easier than you think

Financial counterparties form the backbone of your global financial network. But how robust is your process for assessing counterparty risk? Manual processes that rely on copying information into reports distract analysts and make it hard to prove you take a risk-based approach to assessing partners.

With Bankers Almanac Enhanced Due Diligence, all banks have easy access to modern KYC software to automate and enhance their risk assessment process. Clients benefit from instant access to accurate data, documents, and screening tools covering over 21,000 banks and 200,000 other financial institutions. Standardised processes and robust audit trails help clients build trust with regulators.

Product Value

Better identify financial counterparty risk with modern KYC software for all banks

A KYC due diligence report can be created in under ten minutes containing all the required documents and data that need be reviewed. KYC analysts can immediately focus on assessing counterparty risk, rather than having to find information and build reports.

Interactive ownership and key personal charts help analysts quickly unpack entities and spot risk. Entities can be automatically screened against:

  • Sanctions – all major sanctioning bodies
  • Enforcement actions – over 1,250 enforcement sources
  • Politically exposed persons – over 2 million entries
  • Adverse media coverage – over 30,000 news sources
  • State ownership – over 30,000 news sources

KYC due diligence reports and processes are standardised, ensuring clients can prove that they consistently took a risk-based approach to assessing financial counterparties.

Final reports along with copies of reviewed documents and comprehensive audit trails are automatically saved to the cloud, and can be easily downloaded, enabling compliance officers to quickly provide evidence of all actions.

Upgrading your manual KYC process to modern software automation is quick and simple. Users just need to log into this cloud-based application and select a counterparty to assess. Clients can generally become proficient with this application within one morning.

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