Are you banking high-risk customers you don’t know about?
Improper identification of customers in high-risk categories can lead to risk gaps in your BSA/AML program.
Most institutions rely on manual reports, antiquated rules, or front-line account opening questionnaires to identify and segment high-risk accounts, including ATM Owners, MSBs, MRBs, NGOs, and more. But, risk is not static, and customer activity changes over time. How do you ensure that you have an accurate picture of your institution’s risk profile at all times?
From an integrated Account Opening Questionnaire to continuous monitoring of your existing customer base with segmentation analytical agents, Verafin’s High-Risk Customer Management solution automatically identifies high-risk customers and intelligently segments them into high-risk categories. By increasing the efficiency of your compliance processes and providing a deeper understanding of your risk profile, Verafin closes risk gaps in your high-risk customer management and customer due diligence programs.