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KYC Utility

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VALUE PROPOSITION

  • Clear backlog of 50k+ profiles for year 2020
  • Embed robust KYC utility model in global operating model
  • Reduce touch time and dependency on labor

KYC Utility – demonstrating modular, cross-functional nature of ELEMENT™ as part of a combined SaaS and Managed Service provision

 

BACKGROUND

Leading European financial institution fined significant amount for failings in KYC/AML Process

The mandate to remediate 80k+ corporate entities by end 2020, and only 30K remediated by Dec 2019

The client base spans 40+ jurisdictions, with integrated operations from Europe (Benelux, Poland, Slovakia) and Asia (India, Manila)

TARGETS

  • Deploying fully customized cloud-based KYC solution in 3 months, fully compliant with GDPR and FI’ information security and data security policies
  • Integrating 350+ primary and secondary data sources for KYC

ADDRESSING THE NEED

  • Fully automating desktop KYC search and profile generation
  • Reducing touch time by over 50%
  • Platform for 100+ users and meeting FI's regulatory mandate

To read more about ELEMENT™ of Compliance CLICK HERE

 

Other Use Cases

A global bank addresses the risks and costs of conventional data sources and fragmented approaches to KYC and AML. Using BlackSwan’s ELEMENT™ of Compliance, operational costs are reduced by over 50% and highest-priority risks are given full attention within a comprehensive situational context.[...]

Modernization of a tier-1 bank replacing multiple legacy systems with PaaS based applications – demonstrates multi-purpose, digital transformation inside a highly regulated data-intensive organization and as an OEM[...]

Next generation FIU technology PaaS for ventures brands (outperforms legacy systems using paid sources) – demonstrating advanced data source integration and rapidity of deployment[...]

About BlackSwan Technologies

BlackSwan Technologies is a SaaS Product company. Its Flagship product ELEMENT is a cognitive operating system that enables rapid development of Enterprise AI-Driven applications. ELEMENT is the foundation that can be used by enterprises across multiple industries to build robust AI applications, tools and workflows. With hundreds of pre-configured data fetchers, analytical functions, models and user interface components, element makes heavy use of knowledge graphs and a range of Machine Learning techniques to help companies improve outcomes and reduce costs.

BlackSwan ELEMENT is trusted by some of the largest, fastest, and most innovative companies in the world.