Monitoring high risk customers – an automated solution
Ongoing AML regulations require financial institutions to have appropriate controls to review and monitor customers who pose a high risk of financial crime. One of the key challenges is to identify, verify and monitor customer information, especially for those customers that were on-boarded before the new risk models were developed.
We have designed, developed and implemented automated financial crime solutions based on data intelligence and smart business rules, enabling automated KYC reviews for the majority of business customers.
With a bespoke build, feeds from any legacy systems can be combined with approved external data sources to monitor the full portfolio. High risk events and triggers are automatically identified for manual review, allowing resource to focus on high risk activity, while low and medium risk customers can be processed automatically, in line with a defined risk based approach that meets regulatory approval.
Campion Willcocks was asked to build a bespoke automated portfolio monitoring system for a UK Tier 1 bank, in order to monitor global multinationals, smaller companies, retail business banking and retail customers, including trigger alerts for real-time risk management.Read More