KYC Portal

KYC Portal is a customer lifecycle management (CLM) solution designed to streamline the Know Your Customer (KYC) processes for organizations. According to the vendor, the product automates customer onboarding, due diligence, and ongoing monitoring to ensure compliance with anti-money laundering (AML) and other regulatory requirements. KYC Portal is said to be suitable for companies of all sizes, from small businesses to large enterprises. It is used by financial institutions, banks, insurance companies, payment service providers, as well as gaming and gambling companies.

Dashboard Enhancements: The real-time Dashboard in KYC Portal CLM provides a static view of data in various formats, such as pie charts and widgets. It shows information such as the total number of applications, risk exposure, newly created applications, entity types, and upcoming reviews, according to the vendor.

Dynamic Screening Results: KYC Portal CLM integrates with third-party screening service providers to automate monitoring and decision-making based on screening results. The new feature allows users to display more detailed results from third-party screenings, including categories (e.g., PEP, Adverse Media) and scores provided by the third party, according to the vendor.

Dynamic Type of Entities: KYC Portal CLM allows dynamic association of the category of an entity based on a field's value in the form. Users can configure which field sets the category for the entity and the value in the field that triggers the association, according to the vendor.

Limiting Search based on User Access: The "USE FROM EXISTING" feature in KYC Portal CLM allows users to search existing entities to avoid duplication. The new feature allows the configuration of access limitations for the "USE FROM EXISTING" feature based on user rights, according to the vendor.

Notes Overhaul: The NOTES section in KYC Portal CLM keeps a full historical audit trail of entity/application activities. The new feature allows users to filter and search the audit trail based on various criteria, such as note category, type, users, exposure in the Customer Outreach Tool, and date range, according to the vendor.

Replication of Reports: KYC Portal CLM enables users to create and manage reports using the embedded report designer. The new feature allows users to replicate existing reports within a program, quickly configuring new reports based on the settings and filters of existing reports, according to the vendor.

Status Flow Printing: KYC Portal CLM's STATUS module allows the creation of customized status flows for applications. The new feature provides a visual representation of the status flow configuration, which can be printed as an image or PDF, according to the vendor.

Risk Categories Module: KYC Portal CLM's Scoring module allows the creation and management of risk parameters and categories. The new module displays all created risk categories and the fields contributing to each category's overall risk, according to the vendor.

New Scoring Method - Maximum Entity Risk Band: KYC Portal CLM offers various risk algorithms for scoring. The new scoring method, "Maximum Entity Risk Band," assesses the scores of all entities within an application and assigns the highest risk band to the entire application, according to the vendor.

Detailed View of Manual Risk Override: KYC Portal CLM's automated risk assessment module allows users to override risk assessments. The new feature provides a detailed view of manual risk overrides, showing both the automatically generated risk values and the overridden values input by users, according to the vendor.