Ongoing Risk Based Due Diligence
Complete customer lifecycle coverage for financial institutions from regulations such as the Third EU Money Laundering Directive, Sections 312 and 326 of the USA PATRIOT Act, and Australia’s AML/CTF Bill continue to put pressure on financial institutions to take a risk-based approach to their customer due diligence process, and to ensure Know Your Customer (KYC) requirements are effectively addressed.
With Fiserv's (formerly NetEconomy's) award-winning solution, we help financial institutions take CDD to the next level – offering innovative capabilities to identify and monitor customers with high-risk profiles and high-risk behavior in a dynamic and efficient way. From account opening and customer verification to ongoing monitoring, Fiserv provides a fully integrated solution to mitigate and manage risk throughout your customer’s lifecycle.
Fiserv’s Customer Due Diligence /KYC Solution
A highly effective CDD/KYC solution designed to:
- Improve your ability to mitigate risk
- Increase productivity of your compliance staff
- Meet KYC/CDD regulatory requirements
- Reduce false positives
- Streamline processes
- Reduce workload
With Fiserv's capabilities for risk scoring and enhanced due diligence on high risk customers, financial institutions will improve their ability to mitigate risk across their organization. Risk Based Due Diligence from Fiserv monitors customers and transactions, and alerts its users to the appearance of suspicious activity. Once alerts have been generated, a step-by-step customizable workflow with built-in case management drives users through investigation, case tracking and reporting within one fully integrated end-to-end environment.
“We maintain an aggressive and comprehensive program of risk and compliance management to ensure we fully comply, and exceed wherever possible, all Federal (Patriot Act, BSA) and State regulations. Working with Fiserv continues our effort to employ the best available measures."
John De Lavis, Chief Operating Officer, NetSpend
Other endorsements