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OmniEagle’s Legal & Natural Party Risk Assessment module is designed to streamline and automate your Customer Due Diligence (CDD) and Know Your Customer (KYC) processes, ensuring compliance with stringent AML regulations while minimizing manual effort and improving accuracy. This powerful feature allows you to identify and assess the risk profiles of both individuals and legal entities engaging with your financial institution, enabling informed decisions and proactive risk mitigation.

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Key Benefits

  • Reduced Compliance Burden: Automate essential CDD/KYC tasks, reducing the workload on your compliance team and minimizing the risk of non-compliance penalties.
  • Enhanced Accuracy: Leverage data-driven insights and intelligent risk scoring to make more informed decisions about customer risk.
  • Faster Onboarding: Streamline the customer onboarding process with automated data collection, verification, and risk assessment.
  • Proactive Risk Mitigation: Identify and mitigate potential risks early in the customer lifecycle, preventing financial crime and protecting your business.

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Core Functionality

  • Automated Data Collection:
    • Seamlessly gather customer information from various sources, including internal databases, KYC providers, and public records.
    • Support for data collection from both individuals and legal entities, with customizable data fields to capture relevant information.
  • Intelligent Risk Scoring:
    • Dynamic risk scoring based on a multitude of factors, including industry, geography, transaction history, and adverse media.
    • Customizable risk models that align with your organization’s specific risk appetite and regulatory requirements.
    • Automated assignment of risk levels (e.g., low, medium, high) to customers based on their risk score.
  • Integration with Leading KYC Providers:
    • Seamlessly integrate with leading KYC providers like PostIdent, Verimi, and others to automate identity verification.
    • Support for various verification methods, including document verification, biometric verification, and address verification.
  • Sanctions and PEP Screening:
    • Automated screening against global sanctions lists (OFAC, EU, UN), Politically Exposed Persons (PEP) databases, and other watchlists.
    • Real-time alerts for potential matches, enabling immediate investigation.
  • Adverse Media Screening:
    • Continuous monitoring of global news sources to identify negative news or reputational risks associated with customers.
    • Automated alerts for compliance officers to review potential adverse media hits.
  • Ongoing Monitoring:
    • Continuous monitoring of customer risk profiles for changes in risk factors.
    • Automated alerts for compliance officers when a customer’s risk profile changes.
  • Comprehensive Reporting:
    • Detailed audit trails of all CDD/KYC activities, including data collection, verification, and risk assessment.
    • Customizable reports to meet internal and external reporting requirements.

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Integration Details

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Use Cases

  • Streamlined Customer Onboarding: Automate the CDD/KYC process for new customers, reducing manual effort and accelerating onboarding.
  • Enhanced Risk Management: Identify and mitigate high-risk customers early in the customer lifecycle.
  • Ongoing Compliance: Continuously monitor customer risk profiles and ensure compliance with evolving AML regulations.

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Regulatory Alignment

  • GWG (German Anti-Money Laundering Act): This feature helps you comply with the GWG’s requirements for customer due diligence and ongoing monitoring.
  • BaFin Regulations: Aligns with BaFin’s risk-based approach to AML compliance.
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