Need for increased operational efficiency
- Compliance cost increase
- Onboarding time
- Evolving regulatory environment
- Availability of suitable resources
The multitude of regulation requirements have led financial services industry players and corporations to search for efficient solutions to be compliant with all applicable rules. In this context, we have combined industry expertise and digital savvy in our service offering for KYC operations, called D.KYC.
The service involves collecting and qualifying data and documents, risk scoring and due diligence level maintenance, shareholding structure collection, and watchlist screening, among others, and allows to substantially reduce counterparty onboarding time while enhancing the data quality and traceability.
Financial institutions face increasing challenges within their Know Your Customer (KYC) strategy and operations, compelling them to think and act differently.
Maintaining these KYC operations internally leads to inefficiencies and high cost of ownership, which is often underestimated. Externalizing KYC activities improves output quality, increases risk management, and accelerates counterparty onboarding.
D.KYC (Deloitte Know Your Customer) is an integrated managed service that combines numerous KYC/AML/CTF services, expertise, and workflow management.
The service is supported by a multi-channel web-based platform and allows you to delegate the execution of predefined KYC/AML/CTF activities to Deloitte (Deloitte Solutions SàRL PSF, ISO27001 certified).
As described in the diagram below, D.KYC covers 100% of the Know Your Customer value-chain—from onboarding to ongoing monitoring—and allows a granular and flexible level of configuration to fit your situation.
Clients’ counterparties Natural persons, legal entities
Supplies static data & documents
Clients Financial & non-financial institutions
Decisions on counterparty acceptance, monitoring and oversight of KYC operations
Deloitte Solutions Sàrl PSF
Set of predefined KYC/AML/CTF Managed Services
Significantly improve data quality and traceability
Substantially reduce counterparty onboarding time
Exhaustive and flexible service coverage
Significant decrease of "false positive" alerts and therefore low operational impact
Reduce total cost of ownership (mutualized technology, processes, and manpower)
Reduce your key-man dependency, business continuity, and operational risks
Free up your internal resources, allowing them to focus on controls or core-business activities
Service operated by a regulated and supervised entity in Luxembourg
Our operational team benefits from 20+ years of experiencein KYC/AML/CTF
Facilitated access to senior experts to handle complex/risky situations
Built-in name screening features relying on leading name matching technology and consolidated watchlist, now including Adverse Media on top of the usual sanction/official lists and PEP content
Ready-to-use approach, enabling a predictable and transparent budget (rather than the usual software/empty-box approach)
State-of-the-art content and technology
With D.KYC, you are shifting from "KYC maker & checker" to an "oversight" role, focusing your efforts on priorities.