Services

Compliance Utility Solutions

Anti-Money Laundering and Know Your Customer Solutions

Deloitte Managed Services provides professional services with regard to Anti-Money Laundering (AML) requirements, particularly Know Your Customer (KYC) and Know Your Transactions (KYT) compliance. Learn how a comprehensive AML/KYC lifecycle management can help protect your organisation while addressing regulatory imperatives.

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Comply with regulatory requirements

Consistent compliance with measures preventing criminal financial activity is key. A fundamental pillar to achieve compliance is anti-money laundering, which includes the combating of terrorism and the Know Your Customer (KYC) principles. Nevertheless, financial intermediaries still face major difficulties in implementing the regulatory requirements. This often leads to high fines and other measures of supervisory authorities. A difficulty is that national and international regulations sometimes differ from each other. Deloitte Managed Services offers a comprehensive standard solution that takes these issues into account and is highly adaptable to the needs of each individual financial intermediary.

What are the key benefits of our solution?

  • We ensure compliance with the regulatory imperatives of national and international standards, so that risks are identified in a timely manner, and measures are taken to prevent exposure.
  • Thanks to a structured, workflow-based approach, processes are more time-, resource- and cost-efficient, improving the bank’s overall business model and time to market.
  • Key client data can be assessed efficiently, validated and (also from a risk perspective) evaluated using an aggregation of reliable data sources.
  • The tool provides quick and insightful analyses of the customer’s estimated wealth as well as the original sources of funds, in order to make plausibility checks easier.
KYC Utility - Our way to enhance client data

The four core modules KYC Compliance Utility Tool

There are four core modules in our KYC Compliance Utility Tool, for each phase in the lifecycle of a bank’s business relationship with a client.

Prospecting

Refers to the lifecycle phase when a bank or prospective client is interested in entering into a business relationship. Our tool guides the user through a number of searches which, by aggregating all relevant data, leads to a reliable KYC report, containing an overall risk assessment of the business relationship.

Download the ‘Prospecting’ brochure
 

Onboarding

Refers to the onboarding phase of a prospect client starting the business relationship with the bank. Our tool guides the user through a number of processes, which end with the production of the bank’s contract and all the relevant forms for the onboarding.

A KYC Report may be archived as part of the documentation containing the overall risk assessment of the business relationship.

Download the ‘Onboarding’ brochure
 

Monitoring

Refers to the lifecycle phase when the bank’s client is monitored regularly in order to avoid AML risks. Monitoring may refer to the client’s KYC information (change of circumstances) or to the client’s transactions, which are checked for plausibility based on the customer’s KYC. Our tool guides the user through a number of searches, and the aggregated data leads to an update of the KYC report containing an overall risk assessment of the business relationship or detected details of high-risk transactions.

Download the ‘Monitoring’ brochure
 

Remediation

Refers to the lifecycle phase when the bank is interested on an ad-hoc basis to update the KYC information of their client and remedying anything that is not correct. Our tool guides the user through a number of searches, which lead to a reliable KYC report, containing the most current information to be remediated as well as the overall risk assessment of the business relationship.

Download the ‘Remediation’ brochure

Contact our experts

Micha Bitterli

Micha Bitterli

Partner

Micha has over 16 years of experience, including two in New York, in auditing large financial institutions and trading financial instruments and commodities. In addition to working as an auditor, Mich... More

Toni Pisa

Toni Pisa

Director

Toni has more than 10 years of experience in the auditing and consulting of local and international banks. This experience, in combination with his degree studies in IT, as well as his qualification a... More