Due diligence and monitoring
KYC becomes digital.Reducing the time spent on identifying, getting to know, and monitoring your clients (KYC), while improving your data quality and adhering to all regulations.
Key features
Our Due Diligence Solution applies proven mapping and search algorithms to comprehensive data pools, to provide a reliable overview of a client relationship. This includes assessments of risk, the client network and journey of wealth, while fulfilling all regulatory requirements and enabling new lead generation. Through continual monitoring, the KYC dossier is kept up to date, and potential risks are raised as soon as new information becomes available.
The product includes the following modules of the Deloitte Standard approach:
+ Structured screening
+ Media search
+ Business background
+ Client network
+ Journey of wealth
+ Risk rating
+ KYC report
For more information about the Deloitte Standard Approach, please click here.
- Our Solution uses multiple names and automated name variations, and translates these into case-relevant languages, while delivering a single consolidated response
- The system identifies additional names and applies these as search parameters in the next steps of the process
- A learning system that applies parameters for discerning information related to your client from unrelated data, improving the results every time you interact with it
- Searches are updated with new data, without losing or duplicating work
- New data is put into context with previous analysis
- Monitoring is carried out on a regular basis or when relevant, e.g. a media search update is triggered if potential results have been identified in structured screening
- Collected information is automatically contextualised and presented in an easy-to-understand way
- A clear indication is given to the user of why the information is considered relevant
- Risk rating automatically considers all collected information, including the media search results
- A high-quality KYC report is generated containing a management summary to present the case and a detailed customisable section comprising in-depth analysis for your compliance department
The product includes the following modules of the Deloitte Standard approach:
+ Structured screening
+ Media search
+ Business background
+ Client network
+ Journey of wealth
+ Risk rating
+ KYC report
For more information about the Deloitte Standard Approach, please click here.
- Our Solution uses multiple names and automated name variations, and translates these into case-relevant languages, while delivering a single consolidated response
- The system identifies additional names and applies these as search parameters in the next steps of the process
- A learning system that applies parameters for discerning information related to your client from unrelated data, improving the results every time you interact with it
- Searches are updated with new data, without losing or duplicating work
- New data is put into context with previous analysis
- Monitoring is carried out on a regular basis or when relevant, e.g. a media search update is triggered if potential results have been identified in structured screening
- Collected information is automatically contextualised and presented in an easy-to-understand way
- A clear indication is given to the user of why the information is considered relevant
- Risk rating automatically considers all collected information, including the media search results
- A high-quality KYC report is generated containing a management summary to present the case and a detailed customisable section comprising in-depth analysis for your compliance department
Advantages
Fast time to YES or NO
Consistency and transparency
Expert system for everyone
Deloitte due diligence standard
The Deloitte Standard is the result of Deloitte not only designing a state-of-the-art due diligence process but actually building it with latest technology, evaluating and integrating leading applications to offer a ready-to-use package at preferred rates.
This module includes a best-in-class solution for screening master data against lists of sanctioned individuals and companies, politically exposed persons (PEPs) and other custom lists. It provides accurate identification about threats and reduces false positives.
Multilingual natural language processing is used in combination with machine reading to extract factual intelligence with high precision. The module does all the heavy lifting upfront by analysing each media item and presenting risk-relevant or contextually insightful excerpts in a structured form.
Leveraging a database with information on over 400 million companies, we identify relevant relationships to/from companies and collect data on all involved parties. We provide an overview of company structures, identify the ultimate beneficial owner and visualize this information to identify risk-related objects.
Proper due diligence also covers the business network of a client. All related entities and natural persons in the client network are identified and automatically screened using our Structured Screening module. Resulting risk-related objects are highlighted for further processing.
Knowing the business network of a client, including their current and previous roles in related legal entities, provides you with a clear idea of their sources of wealth. This module calculates the person’s wealth based on all known income sources and available financial data through the business background check.
An automated risk rating considering the entire network as well as the nature of the relationships is calculated to evaluate the inherent risk of a business relationship. It is ‘out of the box’, in line with FATF rules, and can be easily adjusted to your requirements. A high-quality KYC report is automatically generated.
Easy-to-use, plug & play solutions
Deloitte Managed Services is a leading European RegTech Provider of end-to-end managed services for KYC and AML. We combine our extensive expertise with advanced technology, high-quality data and unique mapping intelligence into easy-to-use solutions, no matter which industry or jurisdiction you operate in.
Advanced technology
Proven mapping algorithms
High-quality suppliers
Deloitte expertise
Deloitte due diligence standard
We convert complex problems into easy-to-use RegTech solutions, to execute tasks in the most compliant and efficient way. Access our solutions through the Deloitte KYC Utility or get your exclusive on-site installation.
Your Deloitte Managed Services team
We are a unique team of professionals combining Compliance, Audit, Technology and Industry expertise, using digital solutions to meet your KYC and AML obligations and resolve respective challenges.
Micha Bitterli, Head KYC
Micha has over 20 years of experience in regulation and audit and has worked with national and international regulatory bodies. «As a Big 4 firm we combine leading edge technology and information to efficiently deliver solutions, which enable our clients to stay ahead of their industry.»
Hugh Macquarrie, Head Deloitte Managed Services
Hugh leads Deloitte’s Managed Services offerings in Switzerland and the End-to-End KYC offering across our North South Europe member firms. Hugh is committed to finding creative solutions by bringing together Deloitte’s regulatory, technical and operational expertise and is convinced that with our managed services we can support the banking industry in combatting financial crime, whilst also reducing risk and increasing efficiency for our clients.
Contact us
You are interested in more information? Arrange a call with our experts to schedule a tool demonstration to learn more about our solutions. Use the form below to contact us, and we will get back to you as soon as possible.
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