RiskScreen OnBoard

RiskScreen OnBoard is a platform offered by KYC Global Technologies Limited that aims to facilitate the onboarding and verification process for businesses. It is designed to cater to businesses of various sizes, from small and medium enterprises to large corporations. According to the vendor, RiskScreen OnBoard is utilized by compliance officers in financial institutions, risk managers in various industries, legal professionals in corporate law firms, accountants and auditors in accounting firms, as well as trust and fund administrators in trust and fund management companies.

Key Features

White Label Customer Portal: RiskScreen OnBoard offers a White Label Web Portal option that allows businesses to customize the appearance of their external prospect web portal and associated communications. According to the vendor, users can fully brand the web portal with their own company logo, colors, and more, providing a familiar environment for customers. Different branding options can be applied for different types of customers, such as individuals and corporates.

Dynamic Onboarding Forms: RiskScreen OnBoard provides dynamically responsive forms that adapt to previously supplied responses. Forms can be configured to display reactive fields based on previous answers and live risk scoring of responses, tailoring the form precisely to each customer's requirements and risk profile. The vendor claims that this feature improves the customer experience by accelerating onboarding or remediation processes and capturing targeted data.

Smart Digital KYC Remediation: RiskScreen OnBoard automates nearly all aspects of the KYC remediation process, resulting in significant time and cost efficiencies. According to the vendor, the solution tackles the existing backlog of remediation by identifying relationships that require updating and completing the exercise in a timely manner. It is said to improve the customer experience by asking for information once and reusing existing data, while providing automatic, consistent, and scalable risk rating of all remediation subjects.

Complex Client Structures: RiskScreen OnBoard offers an onboarding solution for complex client structures, including corporates, trusts, funds, and foundations. According to the vendor, it reduces the time to revenue for new complex structures by up to 80%. The platform allows users to visualize complex client structures and validate them with Know Your Business (KYB) sources, ensuring accurate and comprehensive onboarding decisions.

Instant Sanctions, PEP, and Watchlist Checks: RiskScreen OnBoard integrates Dow Jones and Refinitiv data to provide instant sanctions, Politically Exposed Persons (PEP), and watchlist checks. This feature ensures compliance with regulatory requirements by screening customers against these databases in real-time. According to the vendor, it helps businesses identify potential risks and make informed decisions during the onboarding process.

Integrated eIDV: RiskScreen OnBoard offers fully integrated electronic verification for proof of identity. The platform enables fast and efficient verification of ID documents and addresses, streamlining the onboarding process. According to the vendor, integrated eIDV enhances the accuracy and reliability of customer data, reducing the risk of identity fraud.

Workflow and Risk Rating Engine: RiskScreen OnBoard incorporates a workflow and risk rating engine that follows a 3D risk-based approach at every stage. The platform allows users to track onboarding progress, validate and risk rate data obtained from customers, and allocate or refer cases to colleagues. It provides dashboards and reports to optimize the onboarding flow and ensure compliance with regulatory requirements, as claimed by the vendor.

Reporting Suite & Audit Trail: RiskScreen OnBoard includes a comprehensive reporting suite and audit trail functionality. The platform generates full audit trails and reports to ensure proof of regulatory compliance. Users can easily access and share these reports with regulators or auditors, demonstrating adherence to compliance standards, according to the vendor's claims.