Fintech solutions
KYC Relavance platform (Fraud / AML / KYC / CIP)
For Banking/Insurance, Know your customer(KYC) as a platform will serve 3 purposes;
-
KYC and compliancy
-
KYC in CRM
-
Exchange data between financial institutions
It is all about identifying the customer, knowing the customer and detecting fraudulent behavior/transactions in a big Big-data and GDPR proof analytics environment with rapidly growth of data volumes in distributed locations.
​
KYC and compliancy
KYC or KYC check is the mandatory process of identifying and verifying the identity of the client when opening an account and periodically over time. Banks must make sure that their clients are genuinely who they claim to be.
Banks may refuse to open an account or halt business relationship if the client fails to meet minimum KYC requirements.
And many finance companies need sophisticated financial and other monitoring systems to enable law enforcement agencies to detect suspicious transactions or activities and need to setup international cooperative arrangements to assist each other in these endeavors.
​
​
KYC in CRM
It is essential to have a 360-degree view of your customers along with insightful analytics and intelligent reports related to customers’ buying history, preferences, behaviours, etc., all from a single and easy to use dashboard. It helps you leverage the power of intelligent customer information and insights to skyrocket your sales.
​
Exchange data between financial institutes
KYC is no longer a process that takes place within a bank but within the network.
KYC information is shared within that network.
​
The exchange of data from different environments and systems is crucial.
They are part of a global network.
​
Relavance Fintech basic software offers:
- Ingestion of distributed data in different formats
- Data storage in an associative database
- Working with huge datasets
- Data discovery on all data
- Security by Design; GDPR proof, encryption, data lineage
- AI (artificial intelligence) features like machine learning (based on associative intelligence)
​
​
​