Zoot, a provider of data orchestration and decisioning technology, recently briefed Celent on how their orchestration and decisioning platform supports KYC and anti-fraud.
Banks and other financial institutions rely on multiple specialist data and analytics service providers to support their Know Your Customer (KYC) and anti-fraud processes at account opening, product origination, and across the entire customer lifecycle. This reliance on multiple sources introduces operational and systems complexity, particularly in enabling automated decisioning for digital financial services use cases like online account opening.
To address this, Zoot has developed a scalable technology platform that orchestrates data-based decisioning workflows for KYC and anti-fraud. Zoot’s orchestration platform provides a solution that coordinates KYC and/or fraud checks against a broad catalogue of data partners, adds an additional analytic layer to provide a master risk assessment based on the results of multiple data checks, and serves up the insights to support automated decisioning and/or human-based investigation and review.
