How to capture reliable data
The biggest challenge of all compliance procedures is the trustworthiness of the data and keep the overload of different information channels under control. And the worst nightmare is certainly duplicated data in the core system. On top of this, many departments of the company are involved in collecting and checking of the onboarding data: agent or broker, legal, mid-office, compliance, … that the whole process is cumbersome and time consuming. And the client is not pleased to hear that he needs to deliver one piece of missing paper in order to complete his file.
Harmoney can help you to streamline your client acceptance workflows. Your first and second line of defense are fully integrated in the process.
Different client types like private and corporate persons ask for specific KYC and AML procedures. The Harmoney platform can handle this for you.
Your risk based approach is integrated with the client data capturing and automatically calculated and verified. We seamlessly integrate the checks with data providers like LexisNexis, Thomson Reuters or Dow Jones.
This caters for a very user friendly customer experience, without the long paper questionnaires to fill out.
The supervisor points out that a procedure needs to be monitored and notifications need to be available in the system. As compliance officer, you have a full view on all the statuses of your onboarding dossiers. You can immediately identify the cases where intervention is needed. This reduces the time to onboard and is cost efficient.
Operational efficiency is key.