Online Compliance

What you don’t know can hurt you

As a bank, non-banking financial institution or corporate within the regulated sector, you’re obliged to implement robust due diligence checks on customers and counterparties. If not, you face reputational damage and fines – global fines actually topped $280bn in the last decade. Worst still, you risk being associated with parties connected with terror or fraud.

You really need to Know Your Customer (KYC) through rigorous checks. But at the same time you need to streamline processes to drive business growth and keep spending under control.

It’s a challenge that existing manual research processes simply aren’t up to. That’s where Firco Online Compliance, our fast and robust online screening solution, comes in.

The benefits of Firco Online Compliance

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With access to comprehensive and up-to-date records, Firco Online Compliance gives you a wealth of efficiency-improving functionality:

Better information

Reduce risk with a complete and up-to-date picture of your customers and counterparties.

Better processes

Replace inefficient and costly manual processes while reducing false positive hit rates.

Better performance

New processes that deliver faster on-boarding and support business growth.

Better user experience

  • Look up individuals quickly
  • Validate passport MRV’s consistently and reliably during client on-boarding
  • Request more information when you need it
  • Support speedy reviews and alert decisions across language barriers
  • Establish connections easily.

Transformational capabilities and features

  • Comprehensive data on more than 3 million entities in 250 countries and territories – including the world’s largest politically exposed persons (PEPs) database
  • Up-to-date information from over 1,300 enforcement agencies, 30,000 publications, court fillings, company records and all global sanctions lists
  • Configurable search functions that reduce false positives in line with your own risk based approach (e.g. configure the tool to show only PEP search results that match your organisation’s definition of a PEP).

Find out more