Continuous regulatory compliance goes beyond Checkpoint screening. Building continuous compliance into your data framework needs automated solutions that are quick and scalable for real-time decision intelligence.
Businesses in Banking, Financial Services, Insurance and Telecom are subjected to many strict regulatory compliance checks with respect to the processes followed for customer onboarding. This is to ensure that the organization is not being utilized or compromised by individuals or any commercial entity for money laundering and other illegal activities. The regulatory authorities regularly publish the list of the sanctioned individuals and the organizations need to screen all their customers against these lists on periodic basis.
There are also many third party service providers who gather, maintain and provide such data on subscription basis.
Our PrimeWatch solution provides a comprehensive entity screen solution against all types of watchlist which can be plugged into the existing business workflow.
Some countries also mandate institutions dealing in financial services and insurance should tag all their customers with a unique account number. This Unique Customer Information Code (UCIC) is the golden Id of the customer which identifies the golden record of the customer giving a comprehensive 360 degree view of the relationship of the customer across all your organization. Our Prime MDM solution creates the golden record of the customer and maintain the UCIC of every customer of your business.