Blog | Improving your risk-based CDD with intelligent categorization - Read the full blog now

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Improving your risk-based CDD with intelligent categorization
How segmentation improves both the effectiveness and efficiency of your customer due diligence procedures for higher-risk categories


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With expanding regulatory expectations toward CDD/EDD risk management and shrinking compliance resources, the question on the minds of many BSA/AML compliance professionals is, “How can we manage this?” 
 
The answer is by applying intelligent categorization — but what does that mean?

Not all high-risk customers pose the same level of risk to an institution. Therefore, applying the same level of ongoing due diligence to all high-risk customers is incredibly inefficient. In this blog, you will learn how intelligent categorization allows for more tailored and effective management throughout the customer relationship, including:
  • Identification of high-risk customers and categorizing them into high-risk groups.
  • Risk Stratification to address how risk differs within each high-risk category.
  • EDD Review Workflows that centralize processes, automate tasks, and integrate with ongoing monitoring and risk assessment.
  • Surveillance that applies targeted analytics to specific groups, monitoring them for unusual activity and risk factors.
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