March 21 at 12:30 PM - 01:30 PM EST

Enterprise AML with a Risk-Based Approach

How to Identify, Score, Monitor, and Review High-Risk Customers in Verafin

Understanding the nature and purpose of customer relationships on an ongoing basis — in particular those customers in high-risk groups, such as NRAs, MSBs, MRBs, ATM Owners, PEPs, and NGOs — is crucial to your financial institution’s BSA/AML program. With new CDD requirements looming on the horizon, FIs will likely face increased scrutiny, and pressure to adopt an end-to-end, risk-based approach to their due diligence and risk management processes.

Join us to learn how Verafin’s Enterprise AML platform helps financial institutions strengthen compliance with a risk-based approach for managing and mitigating risks including solution to identify, assess, monitor and review high-risk customer groups.

Highlights of this product demonstration will include:

  • Benefits of a risk-based approach to strengthen your AML program, by identifying, assessing, monitoring and reviewing high-risk customers.
  • CDD Questionnaire to identify newly onboarded high-risk customers and collect Ultimate Beneficial Ownership information.
  • High-Risk Customer Finders to identify potential risks hiding within your existing customer base.
  • Customizable Risk Models & Scoring to allow you to manage risk factors and reviews for high-risk customer categories, according to your institution’s risk appetite.
  • Ongoing Monitoring with Targeted Analytic Scenarios for High-Risk Customers alerting you to suspicious activity, or activity that may require further scrutiny or due diligence.
  • Enhanced EDD Workflow to provide you, your institution and examiners with greater clarity and transparency into risk review processes.

Tagged as...

  •   Beneficial Ownership
  •   BSA/AML Compliance
  •   CDD/EDD
  •   Customer Risk Management

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