Not all high-risk customers are created equal
Institutions are under increased regulatory pressure surrounding Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD), particularly regarding the identification, segmentation, stratification, 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 segmentation approach automatically identifies, segments, stratifies and actively monitors ongoing high-risk customer activity.