Persistent’s Know Your Customer (KYC) application enables banks to meet KYC requirements across countries, branches and products, thereby facilitating and smoothing the customer onboarding process.  The rules-driven approach provides uniform records, speeding identification and verification of customers.  Online access to customers, data, and approvers  enables effective and efficient collaboration within the bank or financial institution, allowing the staff to spend more time with customers and less time working through data. The KYC application is a highly configurable, rules-driven, and integrated application that can also be integrated with legacy systems. It captures customer information, categorizes customers, and supports the collection of documents for verification and other KYC requirements.

Key benefits:

  • Achieve time-savings of up to 85%
  • Maintain high data quality by automating the onboarding process, while minimizing manual paper handling and distribution
  • Decrease processing time and reduce labor costs by capturing critical data and documents required to validate information
  • Increase visibility to all stakeholders in the onboarding process
  • Automatically calculates Simplified Due Diligence (SDD) and Enhanced Due Diligence (EDD) for the customers
  • Accelerates risk profiling based on configurable risk factors
  • Easy integration with third-party data sources for identification and verification of customers
  • Analytics to identify prospective customers and real time reporting to monitor activities

 

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