Not all high-risk customers are created equal
Institutions are under increased regulatory pressure surrounding Customer Due Diligence and Enhanced Due Diligence (CDD/EDD), particularly regarding the identification, risk scoring, and surveillance of FFIEC high-risk customer types. These challenges are exacerbated by conventional CDD/EDD approaches that result in process inefficiencies, wasted time and increased cost.
Verafin’s High-Risk Customer Management solution reduces the compliance burden and improves efficiency of ongoing due diligence by managing high-risk customers in a targeted way. Our intelligent risk categorization approach identifies, categorizes, stratifies and actively monitors ongoing high-risk customer activity.