TOPIC: Money Service Business

Demonstration | End-to-End High-Risk Customer Management & CDD/EDD - Join us on May 29

May 29 at 12:30 PM - 01:30 PM EST
End-to-End High-Risk Customer Management & CDD/EDD
Identification, Stratification, Surveillance & EDD Workflows for High-Risk Customers


Register Now

How accurate is your institution’s customer risk profile? A one-size-fits-all approach to customer risk can lead to thousands of high-risk customers being flagged for continuous review, increasing your workload.
 
Verafin’s end-to-end solution for High-Risk Customer Management and CDD/EDD helps you effectively manage higher-risk categories of customers, including ATM Owners, MRBs, MSBs, NGOs, and more.

Join us as we demonstrate how Verafin groups customers in high-risk categories, stratifies the risk within those groups and, through ongoing surveillance, provides a more accurate picture of your institution’s risk profile.

Register Now

    Demo | End-to-End High-Risk Customer Management & CDD/EDD - Join us on May 29

    May 29 at 12:30 PM - 01:30 PM EST
    End-to-End High-Risk Customer Management & CDD/EDD
    Identification, Stratification, Surveillance & EDD Workflows for High-Risk Customers


    Register Now

    How accurate is your institution’s customer risk profile? A one-size-fits-all approach to customer risk can lead to thousands of high-risk customers being flagged for continuous review, increasing your workload.

    Verafin’s end-to-end solution for High-Risk Customer Management and CDD/EDD helps you effectively manage higher-risk categories of customers, including ATM Owners, MRBs, MSBs, NGOs, and more.

    Join us as we demonstrate how Verafin groups customers in high-risk categories, stratifies the risk within those groups and, through ongoing surveillance, provides a more accurate picture of your institution’s risk profile.

    Register Now

      Blog | Optimizing high-risk customer management and ongoing due diligence

      Blog
      Optimizing high-risk customer management and ongoing due diligence
      How end-to-end AML technology improves the effectiveness of high-risk customer monitoring in a complex BSA/AML risk environment
      Read the full blog now

      An already challenging BSA/AML compliance risk environment continues to grow in complexity. When FinCEN’s Final Customer Due Diligence (CDD) Rule came into effect in May 2018, covered FIs were required to update policies and procedures to ensure Beneficial Ownership information is collected for new relationships on a go-forward basis.

      In this blog, we outline how a risk-based approach to compliance goes far beyond collecting information at account opening, and why FIs must understand high-risk customer relationships, such as ATM Owners, MSBs, MRBs, NGOs, etc., throughout their lifecycle.

      Read about the challenges of High-Risk Customer Management and how a technology platform that uses Intelligent Categorization can help FIs establish an end-to-end, risk-based approach to BSA/AML compliance that includes Identification, Risk Stratification, EDD Review Workflows, and ongoing Surveillance for powerful, more efficient due diligence for higher-risk customers.

      Read the full blog now