Oracle Financial Services Know Your Customer allows financial institutions to meet regulatory requirements, improve overall customer relationships, and provides cost-effective measures to identify and prevent financial crimes. The product follows a three-pronged approach to meet end-to-end KYC requirements of financial institutions

• Comprehensive risk scoring to identify threats well in advance to onboarding the customer
• Continuous customer monitoring with integrated alert mechanism to validate any profile changes
• Enhanced due diligence process aided by inbuilt case management investigation tools to adjudicate any customer’s risk assessment

Oracle Financial Services Know Your Customer is a sub component of Oracle FCCM. The application shares the same data model with other FCCM applications, and thus offers users a truly unified AML and KYC coverage. Once the client’s data is loaded, their accounts and customers are risk rated and reviewed through case management for Enhanced Due Diligence (EDD). OFS KYC also offers a rich set of operational business intelligence reports