EXL's Digital KYC Solution
This feature is upgradeable
For End Users
You can activate this feature and other links for ALL VENDORS with a VendorMatch Premium subscription. Additionally you can gain access to an increased depth of data, summary reports, RFX reports (detailed completed RFIs - available to financial institutions only) and comparison grids. Please click here for more information.
For Vendors
Vendors can activate their links and gain access to analytics by upgrading to VendorMatch PRO. Please click here for more information.
Speak with an analyst
Financial institutions and their advisors can subscribe to our Analyst Access* service. Effectively phone or (email) a friend you can have on tap advice and support provided by our analysts on this vendor, solution or solution category.
HOW TO SUBSCRIBE
To protect vendor data only financial institutions and recognized advisors can subscribe to VendorMatch Premium. Please click here for more information.
or contact us to discuss a subscription.
Subject to reasonable use.
Survey Summary
The Survey Summary provides a download of the vendor profile, solution profile and the VendorMatch Discovery survey vendor responses used to power the directory. All responses are provided by the vendor online.
Note that this report is a high level summary of the vendor's credentials and a solution's capabilities designed to assist with solution short-listing. The RFX report is the more comprehensive Request For Information report designed to support evaluation and selection, this will only show where the vendor has completed the "RFX" RFI.
HOW TO SUBSCRIBE
To protect vendor data only financial institutions and recognized advisors can subscribe to VendorMatch Premium. Please click here for more information on Premium features or contact us.
RFX Report
The RFX report is an XLS download of the Vendors response to the “RFX” Request for Information for this solution.
The RFX is a centralized golden copy of a RFI authored by our analysts based on their expertise in running real-life system evaluation and selection projects and completed by the vendor online.
Note to protect vendor that only Financial Institutions and recognized Advisor can subscribe to this feature.
In each instance the first time the link is used the user requests permission to access the RFX report and it is the vendor who is required to authorizes access. You will be alerted when the vendor has reviewed your request and granted permission.
HOW TO SUBSCRIBE
Please click here for more information on Premium features or contact us.
To learn more about subscribing to our service options, please contact us here
This feature is upgradeable
For End Users
You can activate this feature and other links for ALL VENDORS with a VendorMatch Premium subscription. Additionally you can gain access to an increased depth of data, summary reports, RFX reports (detailed completed RFIs - available to financial institutions only) and comparison grids. Please click here for more information.
For Vendors
Vendors can activate their links and gain access to analytics by upgrading to VendorMatch PRO. Please click here for more information.
Speak with an analyst
Financial institutions and their advisors can subscribe to our Analyst Access* service. Effectively phone or (email) a friend you can have on tap advice and support provided by our analysts on this vendor, solution or solution category.
HOW TO SUBSCRIBE
To protect vendor data only financial institutions and recognized advisors can subscribe to VendorMatch Premium. Please click here for more information.
or contact us to discuss a subscription.
Subject to reasonable use.
Survey Summary
The Survey Summary provides a download of the vendor profile, solution profile and the VendorMatch Discovery survey vendor responses used to power the directory. All responses are provided by the vendor online.
Note that this report is a high level summary of the vendor's credentials and a solution's capabilities designed to assist with solution short-listing. The RFX report is the more comprehensive Request For Information report designed to support evaluation and selection, this will only show where the vendor has completed the "RFX" RFI.
HOW TO SUBSCRIBE
To protect vendor data only financial institutions and recognized advisors can subscribe to VendorMatch Premium. Please click here for more information on Premium features or contact us.
RFX Report
The RFX report is an XLS download of the Vendors response to the “RFX” Request for Information for this solution.
The RFX is a centralized golden copy of a RFI authored by our analysts based on their expertise in running real-life system evaluation and selection projects and completed by the vendor online.
Note to protect vendor that only Financial Institutions and recognized Advisor can subscribe to this feature.
In each instance the first time the link is used the user requests permission to access the RFX report and it is the vendor who is required to authorizes access. You will be alerted when the vendor has reviewed your request and granted permission.
HOW TO SUBSCRIBE
Please click here for more information on Premium features or contact us.
To learn more about subscribing to our service options, please contact us here
Overview
Traditionally, client lifecycle management (CLM) processes have been highly manual, inefficient, and cumbersome. This results in delayed processes, impacting customer experience and potentially exposing organizations to financial crime risks. Know Your Customer (KYC) is an integral part of the CLM processes. The ever-changing regulatory landscape coupled with the need for vast amounts of data from various sources further complicate the process of creating a KYC profile. Typically, analysts research a number of sources for client information such as formation details, legal IDs, ownership
and key controllers. This collection, assessment and organization of customer information is manual, repetitive, time-consuming and open to human error.
EXL's Digital KYC Solution eliminates the manual step of data collection and analysis using automation and advanced analytics component. The solution searches over thirty sources to identify and ingest client information. It then uses proprietary algorithms to resolve conflicts and arrive at a set of answers for more than 100 KYC questions.
The tool also customizes the output (data and documents) based on user roles, region and entity type.
The solution also supports the monitoring of client profiles on an ongoing basis, providing results and outputs of KYC data changes, adverse media hits and sanctions and PEP hits. It is integrated with multiple data providers, ingest the data, uses proprietary models to remove false positives and provides results in a structured output.
The greatest benefit of the solution is that it allows the analysts to now focus on critical tasks and resolving exceptions, rather than the time-consuming tasks of collecting, ingesting and arranging data. it also helps shorten onboarding time, time for reviews and for the client to focus on high value tasks of analysis and investigations rather than data collection and monitoring.
Key Features
The key components/features of the solution are
1. Core BPM Engine - For planning tasks, workflows and for users to interact with the system.
2. Robotics Process Automation - Automatic data collection from various information sources
3. Systems Integration - Integrations through APIs with information providers
4. Advanced Analytics - Data mining using business rules and fuzzy NLP matching
5. Ongoing Monitoring - Monitoring of client data, adverse media and sanctions and PEPs
Key Benefits
The solution offers the following benefits.
a. Reduction in turn-around time of data aggregation
b. Improvement in output quality
c. Standardization of outputs across various geographies
d. Reduce cost of FTE performing KYC activities.
e. Better compliance with regulatory/policies due to standardized approach of completing KYC requirements