Not all high-risk customers are created equal
Managing risk is often a one-size-fits-all approach. A typical risk system uses generic models that incorporate numerous risk factors, resulting in large volumes of high-risk customers. But all high-risk customers are not created equal. A local charity, for example, likely does not present the same level of risk to your institution as an international NGO.
Verafin’s high-risk management approach allows you to define what risk means to you, and stratifies risk within high-risk categories, such as MSBs, ATM Owners, and MRBs. This ensures you are reviewing the right customers at the right time and provides greater visibility to the examiner of your institution’s risk profile.