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Kompli-Global launches outsourced KYC offering

Source: Kompli-Global

With fraudsters and money launderers becoming increasingly clever, regulated entities do not always have the time or in-house expertise to keep up with their regulatory compliance obligations.

Which is why Kompli-Global, the leading RegTech AML specialist, has today announced the launch of its comprehensive outsourced Know your Customer (KYC) solution, Kompli-Outsource™. By harnessing the latest augmented intelligence (AI) and human expertise to provide the most up-to-date information for regulated entities during the onboarding process (the decision to onboard a customer is that of the regulated entity), Kompli-Outsource will help those companies by doing the ‘heavy lifting’, thus allowing them to focus on what they do best and generate much needed revenue.

This will be achieved first by basic corporate KYC due diligence reports, delivering AML due diligence information relating to a company and its people. The reports are completed via Kompli-Konnect for corporate ownership structure verification, UBO, PSC and principal officer identification and CRN, registered address and shareholder confirmation. Additional checks include PEP, sanction & enforcement watchlists on all subjects, including adverse media search, as well as identity verification for proof of ID, proof of address and document authentication, facial recognition and liveness confirmation.

Kompli-Outsource also builds in risk screening via Kompli-IQ for adverse information alerts by interrogating a wide variety of data sources, alongside Kompli-RiskCheck, which provides an added potential fraud and risk indicator search to provide full peace of mind by searching over 45 risk scenarios to alert companies to potential threat situations or circumstances that may need further investigation. Kompli-SecureMeet removes the need for face-to-face meetings which can delay account opening and reduces friction within the customer journey by enabling this to all be done remotely. It is a significant deterrent to fraudsters who are very reluctant to appear on video committing an offence or impersonating someone with stolen identity.

The final step in the Kompli-Outsource journey is an adverse information search. Kompli-IQ plus provides deep web screening for negative information, adverse events and bad actors. It is the most powerful global, negative news search available, finding adverse information missed by other systems, as well as checking for ‘allegations of criminality’. This helps to spot the fraudster before they commit a crime inside your business.

Martin Pashley, Chief Commercial Officer at Kompli-Global, explained: “In these challenging times, companies have enough on their plate ensuring they generate revenue for their businesses. Our technology and expertise in KYC due diligence will enable such organisations to remain compliant and focus on what they do best.”

He added: “By giving us some basic client information, our technology and expertise delivers comprehensive onboarding reports that mean regulated entities, whatever their sector, can be more confident that they keep criminals out and avoid fines for non-compliance.”

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