Too many tasks for too many customers
Financial institutions are facing challenges in meeting requirements for conducting periodic enhanced due diligence (EDD) reviews of high-risk customers. Managing the volume of reviews created as a result of generic risk models can be overwhelming, especially with a manual process for identifying and risk-rating customers.
Verafin’s automated EDD solution is a centralized workflow for reviews that integrates in a continuous loop with customer risk, as well as ongoing suspicious activity monitoring and targeted surveillance. The output of the enhanced due diligence review process dynamically impacts customer risk to ensure an accurate risk score and efficient due diligence process, ultimately strengthening your compliance program.