KYC app
Silent client check.Fast and simple client screening at the point of sale, reducing business risk in just a few clicks.
Key features
Often an AML check is required when it is not possible to carry out an extensive onboarding process. To avoid a negative impact on the client experience, such AML checks should be done in real time at the point of sale and without involving the client. In such cases, our KYC App can screen an ID and immediately receive either a ready-to-go response or clear guidance on how to react. The KYC App is supported by a managed service that handles the screening results in real-time (you get an immediate decision) and can be extended with our due diligence product for further back-office operations.
The product includes the following modules of the Deloitte Standard approach:
+ Structured screening
For more information about the Deloitte Standard Approach, please click here.
- Start the screening process with one click
- The app screens the client information against sanctions, PEP and custom lists
- Clear feedback is provided when the scan is successful, and results are displayed immediately. Depending on the nature of the result, the app provides clear guidance on how to react
- Hit handling is performed in real time by our managed service team (optional) to reach a decision about how to continue
- An audit trail, including data and a copy of the ID/passport, can be saved automatically in a central location (optional feature)
- The camera automatically focuses and scans the client’s ID for further processing
- The app automatically recognises and extracts the required data from client IDs and passports from a wide variety of nationalities
- The app automatically identifies missing information when reading the client’s document and prompts you to scan the second side of the ID when necessary
- If the client’s ID is unreadable, there is a guided process to save time and enhance the user experience
- No data is saved in the app: all data is stored centrally in a safe environment
- The app is protected, either by username and password, or by the biometrical functions available on your device
- A password can be changed within the app (e.g. in case you change your device)
The product includes the following modules of the Deloitte Standard approach:
+ Structured screening
For more information about the Deloitte Standard Approach, please click here.
- Start the screening process with one click
- The app screens the client information against sanctions, PEP and custom lists
- Clear feedback is provided when the scan is successful, and results are displayed immediately. Depending on the nature of the result, the app provides clear guidance on how to react
- Hit handling is performed in real time by our managed service team (optional) to reach a decision about how to continue
- An audit trail, including data and a copy of the ID/passport, can be saved automatically in a central location (optional feature)
- The camera automatically focuses and scans the client’s ID for further processing
- The app automatically recognises and extracts the required data from client IDs and passports from a wide variety of nationalities
- The app automatically identifies missing information when reading the client’s document and prompts you to scan the second side of the ID when necessary
- If the client’s ID is unreadable, there is a guided process to save time and enhance the user experience
- No data is saved in the app: all data is stored centrally in a safe environment
- The app is protected, either by username and password, or by the biometrical functions available on your device
- A password can be changed within the app (e.g. in case you change your device)
Advantages
Execute AML checks at the point of sale
Easy to use
Your client is in focus
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.
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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