Verafin’s end-to-end approach to CDD/EDD and High-Risk Customer Management applies intelligence-based analytics that incorporate a wide range of data sources and improve your High-Risk Management processes by grouping customers into categories based upon how they differ from each other. This allows for more tailored and effective management throughout the customer relationship, including:
- Identification of high-risk customers and relative risk factors, and grouping them into their applicable high-risk categories.
- Risk Stratification, which addresses how risk differs within each high-risk category and automatically risk scores each customer relative to others in the same group.
- EDD Reviews that include a centralized CDD/EDD workflow and integrate with ongoing AML monitoring and surveillance processes.
- Surveillance that applies targeted analytics to specific groups, monitoring them for risk factors and unusual activity.